InfoBytesMay 16, 2022CRS Tax Guide 2022/2023

https://www.crs.co.za/wp-content/uploads/2022/05/tg2022.png

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.

We use cookies to ensure that we give you the best experience on our website.