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Budget 2022: Your Tax Tables and Tax Calculator

How much will you be paying in income tax, petrol and sin taxes? Use Fin 24’s four-step Budget Calculator here to find out.

Have a look at the tax tables below for the new Individual and Special Trust income tax brackets, and for a convenient reminder of the various other taxes that remain unchanged

Income Tax: Individuals and Trusts

Tax rates from 1 March 2022 – 28 February 2023:

Individuals and special trusts

Taxable Income (R)Rate of Tax (R)
1 – 226 00018% of taxable income
226 001 – 353 10040 680 + 26% of taxable income above 226 000
353 101 – 488 70073 726 + 31% of taxable income above 353 100
488 701 – 641 400115 762 + 35% of taxable income above 488 700
641 401 – 817 600170 734 + 39% of taxable income above 641 400
817 601 – 1 731 600239 452 + 41% of taxable income above 817 600
1 731 601 and above614 192 + 45% of taxable income above 1 731 600

Trusts other than special trusts: rate of tax 45%

Rebates

Primary: R16 452

Secondary (Persons 65 and older): R9 000

Tertiary (Persons 75 and older): R2 997

Age and Tax Threshold

Below age 65: R91 250

Age 65 to below 75: R141 250

Age 75 and over: R157 900

Source: SARS

Income Tax: Small Business Corporations

Years of assessment ending on any date between 1 April 2021 and 30 March 2023.

Taxable Income (R)Rate of Tax (R)
1 – 91 2500% of taxable income
91 251 – 365 0007% of taxable income above 91 250
365 001 – 550 00019 163 + 21% of taxable income above 365 000
550 001 and above58 013 + 28% of the amount above 550 000

Years of assessment ending on or after 31 March 2023.

Taxable Income (R)Rate of Tax (R)
1 – 91 2500% of taxable income
91 251 – 365 0007% of taxable income above 91 250
365 001 – 550 00019 163 + 21% of taxable income above 365 000
550 001 and above58 013 + 27% of the amount above 550 000
Turnover Tax for Micro Businesses

Years of assessment ending on any date between 1 March 2022 and 28 February 2023.

Taxable turnover (R)Rate of tax (R)
1 – 335 0000% of taxable income
335 001 – 500 0001% of taxable turnover above 335 000
500 001 – 750 0001 650 + 2% of taxable income turnover above 500 000
750 001 and above6 650 + 3% of taxable turnover above 750 000

Source: SARS

Transfer Duty

Transfer duty is payable at the following rates on transactions which are not subject to VAT:

Acquisition of property by all persons:

Value of property (R)Rate
1 – 1 000 0000%
1 000 001 – 1 375 0003% of the value above R1 000 000
1 375 001 – 1 925 000R11 250 + 6% of the value above R1 375 000
1 925 001 – 2 475 000R44 250 + 8% of the value above R1 925 000
2 475 001 – 11 000 000R88 250 + 11% of the value above R2 475 000
11 000 001 and aboveR1 026 000 + 13% of the value exceeding R11 000 000

Source: SARS

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