On February 22, 2023, the Minister of Finance presented the 2023 Budget Review in Parliament. SARS has made the following documents available on their website: 2024 tax tables, medical fees tax credit, budget tax guide, and budget documents. The statutory rates of tax for the 2024 year of assessment are also available. The tax rates, rebates, and thresholds proposed by the Minister of Finance will take effect on March 1, 2023. The medical scheme contribution tax credit will also be effective from March 1, 2023. The rate per kilometer has been increased from R4.18 to R4.64 per km. The daily amounts for overnight allowance and daily business trip reimbursements are also available. The Budget 2023 proposals to change employment-related tax legislation will be issued in a PAGSA Newsflash shortly.

For more information, please visit https://www.pagsa.org.za/2023/06/10/nf-2023-08-budget-2023-highlights-and-useful-links-for-payrolls/.