Page 54 - Nexia SAB&T Property & Tax Guide 2022

COMPARATIVE TAX RATES

CATEGORY 2021 2022 2023
NATURAL PERSONS
◆ Maximum marginal rate 45% 45% 45%
◆ Reached at a taxable income 1 577 300 1 656 600 1 731 601
◆ Minimum rate 18% 18% 18%
◆ Up to taxable income of 205 900 216 200 226 000
◆ CGT inclusion rate 40% 40% 40%
COMPANIES & CC’s
◆ Normal tax rate 28% 28% 28%*
◆ Dividends Tax 20% 20% 20%
◆ CGT inclusion rate 80% 80% 80%
TRUSTS (other than special trusts)
◆ Flat rate 45% 45% 45%
◆ CGT inclusion rate 80% 80% 80%
SUNDRY
◆ Donations Tax 20%–25%* 20%–25%* 20%–25%**
◆ Estate Duty 20%–25%* 20%–25%* 20%–25%**
◆ VAT 15% 15% 15%
SMALL BUSINESS CORPORATIONS
◆ Maximum marginal rate 28% 28% 28%*
◆ Reached at a taxable income 550 000 550 000 550 000
◆ Minimum rate 0% 0% 0%
◆ Up to a taxable income of 83 100 87 300 91 250
MICRO BUSINESS
◆ Maximum rate of tax 3% 3% 3%
◆ On turnover of 750 000 750 000 750 000
◆ Minimum rate 0% 0% 0%
◆ Up to a turnover of 335 000 335 000 335 000
* For tax years ending on or after 31 March 2023 the tax rate is reduced to 27%.
** Estates and cumulative donations in excess of R30 million will be taxed at 25%.
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