South Africa’s 2026 draft tax bills have entered another stage of parliamentary consideration, with the Standing Committee on Finance scheduled to hear responses from National Treasury and SARS to public submissions on 14 October 2026. For SMEs, the immediate priority is not to implement unconfirmed tax changes, but to understand which proposals may affect future compliance, reporting and tax planning.
Parliament’s notice relates to the draft Taxation Laws Amendment Bill, the draft Tax Administration Laws Amendment Bill and the Rates and Monetary Amounts and Amendment of Revenue Laws Bill. These remain draft measures until the legislative process is completed and the relevant legislation is enacted.
Parliament’s 13 October 2026 media alert confirms that Treasury and SARS were due to respond to submissions received during the public consultation process. The notice also records that stakeholders, including professional accounting and tax bodies, were invited to participate in the process.
What has changed so far?
The 2026 draft tax bills were published for public comment on 30 July 2026. National Treasury and SARS stated that the draft legislation is intended to give effect to tax proposals announced in the 2026 Budget Review, together with technical amendments.
One proposal highlighted in the explanatory material concerns the treatment of the de minimis limit where an individual holds multiple living annuities with the same insurer or fund. The proposal would clarify that the limit is determined cumulatively in those circumstances. This is more relevant to retirement and individual tax planning than to most operating SMEs.
Importantly, Treasury also indicated that the proposal concerning the supply of gold to banks was not included in the draft Taxation Laws Amendment Bill because it required further consultation. This illustrates why businesses should distinguish between a Budget proposal, a draft bill and an enacted law.
National Treasury’s publication notice confirms that written comments on the draft bills closed on 28 August 2026. The next stages may still result in amendments before legislation is finalised.
Who should pay attention?
- Companies with complex tax structures or cross-border transactions;
- Businesses affected by proposed tax administration changes;
- Employers and finance teams responsible for compliance systems and reporting;
- Professional advisers monitoring changes that may affect clients; and
- SMEs making investment, financing or restructuring decisions based on expected tax treatment.
What businesses should check now
Finance teams should avoid changing accounting systems or tax processes solely because a proposal appears in a draft bill. Instead, keep a register of relevant proposals and identify which transactions, contracts or reporting processes could be affected if the wording changes.
Businesses should also confirm that their current tax records, supporting documentation and internal approval controls are up to date. Strong record-keeping will make it easier to respond if new requirements are enacted or if SARS guidance changes.
Practical next steps
- Ask your accountant or tax adviser which draft provisions are relevant to your business.
- Separate enacted requirements from proposals in internal compliance checklists.
- Monitor official updates from SARS, National Treasury and Parliament.
- Do not rely on social media summaries when assessing a possible tax change.
- Review contracts and planned transactions where tax treatment is material.
The key message for SMEs is measured preparation. The 2026 draft tax bills may still change, so businesses should monitor the legislative process without treating proposals as current law.
