We are happy to provide a comprehensive online tax guide for the 2022/2023 tax season.
This covers several highlights that employers and employees need to consider:
- Personal income tax: Inflationary relief through a 4.5% adjustment in tax brackets and rebates.
- Employment tax incentive: Expanded through a 50% increase to R1500 p/m.
- Fuel & RAF levies: No change.
- Excise duties: Increase between 4.5% and 6.5% on alcohol and tobacco.
- Corporate income tax: The rate is reduced to 27%.
- Disclosure of wealth: All provisional tax payers with assets above R50 million are required to declare specified assets and liabilities.
- Assessed losses: Assessed losses brought forward will be limited to 80% of taxable income.
- Carbon tax: First phase extended by three years.
- Plastic bag levy: Increase to 28c p/bag from 1 April 2022.
- Health promotion levy: Beverages with more than 4g of sugar p/100ml will have a levy of 2.31c/g.
To view our comprehensive Tax Guide, complete the form to start the download.
It will be more than worth your while!
Contact our team at info@crs.co.za if you require any additional information.
