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Am I liable to pay tax?

How to prepare for Tax Year-end - Business Link

Individuals who receive taxable income of more than a specific amount (known as the “tax threshold” amount) in a year of assessment are liable for income tax.

As per the Minister of Finance’s Budget Speech on 24 February 2021, for the 2022 year of assessment (1 March 2021 – 28 February 2022), the tax thresholds* are as follows:

  • R87 300 if you are younger than 65 years
  • If you are 65 years – 75 years, the tax threshold increases to R135 150
  • For taxpayers aged 75 years and older, this threshold is R151 100

*it is important to note that these tax thresholds are different for each year of assessment

If you are earning taxable income above the tax threshold, you must register with SARS as a taxpayer.

We are currently in the 2023 Tax year, but the 2022 Tax Filing season, this means we are currently filing tax returns to SARS for the tax period 1 March 2021 – 28 February 2022.

The below will take you to the SARS website, with the tax tables and thresholds for various tax years.