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South Africa's Budget for 2022 Presented in Parliament

25 February 2022

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Proposed Changes

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South Africa

On 23 February 2022, the South African Minister of Finance presented the Budget for 2022 in parliament. As announced in the budget speech, the main tax measures include the following: The personal income tax brackets and rebates will be adjusted by 4.5%, in line with inflation, with the annual tax-free threshold for a person under the age of 65 increased from SAR 87,300 to SAR 91,250 and the taxable income brackets/rates set as follows from 1 March 2022: up to ZAR 226,000 - 18% ZAR 226,001 to 353,100 - 26% ZAR 353,101 to 488,700 73 - 31% ZAR 488,701 to...