Details of the Budget with respect to direct taxation, which, unless stated otherwise, will apply from 1 Marchare summarized below. For details with respect to indirect taxation, see South Africa-1, News 22 February The top four brackets will remain unchanged; — Review the tax treatment of contributions to retirement funds situated outside South Africa; — Align tax treatment of preservation funds upon emigration; — Allow transfers to pension and provident preservation funds after retirement; — Increase the primary, secondary and tertiary rebates from ZAR 13, to ZAR 14,; secondary from ZAR 7, to ZAR 7, and tertiary rebates ZAR 2, to ZAR 2,; and — Increase monthly medical tax credits from ZAR to ZAR per month for the first two beneficiaries. For details with respect to direct taxation, see South Africa-1, News 22 February
VAT, fuel levy to increase Wednesday 21 February - 1: All eyes will be on whether Gigaba will increase taxes orVAT, and how free higher education will be funded.
Despite speculation over his future,finance ministerMalusi Gigaba will deliver the budget speech in the National Assembly this afternoon.
Masechaba Mogane Despite speculation over his future,finance ministerMalusi Gigaba will deliver the budget speech in the National Assembly this afternoon. All eyes will be on whether Gigaba will increase taxes or VAT, and how free higher education will be funded.
This livestream has ended. You may watch the recording above. From 1 April the value-added tax VAT rate goes up to 15 percent from 14 percent and the fuel levy will rise by 52c a litre.
We therefore decided that increasing VAT was unavoidable if we are to maintain the integrity of our public finances.
|2018 Income Tax Calculator||As I begin, let me first table before this august House:|
|Personal income tax relief The revised tax scales mean: The income tax threshold is raised from R75, to 78, for persons below 65 years.|
|Budget speech in a nutshell: Life is going to get a bit more expensive||Relatively few changes to existing tax rates were proposed.|
|It is scheduled to begin at|
Social grants are also to be increased from 1 April. Personal income-tax rebates and brackets will be increased at a rate below inflation, with greater relief for those in the lower-income tax brackets. The excise duty rate on luxury goods rises two percentage points to 9 percent, while a higher estate duty tax rate of 25 percent will be imposed on estates greater than Rmillion.
So-called sin taxes, on alcohol and tobacco, will be increased by between 6 and 10 percentage points. Budget Rise in alcohol and tobacco increases: On Tuesday, President Cyril Ramaphosa told Parliament changes to the cabinet will not be done in haste.
Gigaba is expected to deliver his maiden Budget Speech in Parliament on Wednesday afternoon.
I know members want it to happen yesterday it will not happen yesterdaySouth African Minister of Finance Malusi Gigaba delivered the Budget Speech and tax proposals today, 21 February Relatively few changes to existing tax rates were proposed. The remainder of the Budget includes proposals for further tax reform and amendments to .
The Budget Speech had a lot of details as well as a lot of jokes. We've got some of the best reactions from South Africans online.
Watch live: National Budget speech – Malusi Gigaba. Budget speeches. Audio files.
Speeches. You can use the filters to show only results that match your interests. Title South Africa -United Kingdom investor roundtable: 28 Aug Opening of South African National Talanoa Dialogue: 23 Aug The Budget for was presented to Parliament by the Minister of Finance on 21 February Details of the Budget with respect to direct taxation, which, unless stated otherwise, will apply from 1 March , are summarized below.
For details with respect to indirect taxation, see South Africa-1, News 22 February Budget Speech summary & highlights.
Download the South Africa Budget Speech / transcript & the Old Mutual pocket tax guide summary. Then use our free online income tax calculator to calculate your new tax rates based on your monthly salary.
Live streaming, breaking news and analysis and infographics of the South African Budget Speech by Malusi Gigaba. Use our calculators to see how it affects your money.