Tax brackets
Into which tax bracket do I fall?
The amount of your taxable income determines the tax bracket in which you will fall. For the 2023 year of assessment, running from 1 March 2022 to 28 February 2023, an individual’s taxable income is taxed in terms of the following table:
| Taxable income (R) | Rates of tax (R) |
|---|---|
| 1 – 226 000 | 18% of taxable income |
| 226 001 – 353 100 | 40 680 + 26% of taxable income above 226 000 |
| 353 101 – 488 700 | 73 726 + 31% of taxable income above 353 100 |
| 488 701– 641 400 | 115 762 + 36% of taxable income above 488 700 |
| 641 401 – 817 600 | 170 734 + 39% of taxable income above 641 400 |
| 817 601 – 1 731 600 | 239 452 + 41% of taxable income above 817 600 |
| 1 731 601 and above | 614 192 + 45% of taxable income above 1 731 600 |
Disclaimer: The answers above are only applicable to individuals who are exclusively regarded as tax residents of South Africa. This is for information purposes only, and we urge clients to seek independent tax advise to ensure that your tax circumstances have been properly considered.