While South Africans battle with a cost-of-living crisis, rising unemployment and sluggish economic growth, Finance Minister Enoch Godongwana is faced with the daunting task of balancing the books in a watershed election year, amid a bloated public wage bill, rising…
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2024 Budget speech update
Tagged with: 2024 budget, 2024 tax rates, tax rates, two-pot retirement system
Posted in News, Press Room
Posted in News, Press Room
2023 Budget speech update
The 2023 Budget speech was delivered against the backdrop of high living costs, a dismal unemployment rate and intensive loadshedding crippling businesses, all of which are placing severe strain on South Africa’s economic recovery and growth. Finance Minister Enoch Godongwana…
2022 Budget speech update
With the aim of “keeping money in the pockets of South Africans”, Finance Minister Enoch Godongwana provided some hope to taxpayers during his maiden Budget speech. Earlier today, the Minister proposed no significant tax increases to the major revenue-generating categories, including personal income tax and VAT for the 2022/2023 tax year. This signals continuity from his predecessor’s Budget in 2021 and reinforces government’s commitment to stimulating economic growth.
2021 Budget speech update
Finance Minister Tito Mboweni tabled a taxpayer-friendly Budget, which has taken into account the enormous strain that the COVID-19 pandemic has placed on households and businesses. Personal income tax brackets and rebates will be adjusted by more than inflation to provide individual taxpayers with real tax relief and support economic recovery.
2020 Budget speech update
During the much-anticipated Budget speech this afternoon, the Minister of Finance announced tax relief for individual taxpayers, signalling that tax brackets will be adjusted and personal income tax rebates will increase
2019 Budget speech update
During the budget speech this afternoon, the Minister of Finance announced no surprise tax increases. The focus has shifted from revenue collection to restoring public confidence in the credibility of the South African Revenue Service and the country.
2018 Budget speech update
The Minister of Finance announced amendments to tax and other legislation that may affect investors. These changes come into effect on 1 March 2018, unless otherwise indicated.
2017 Budget speech update
The Minister of Finance announced amendments to tax and other legislation that may affect investors. These changes, which come into effect on 1 March 2017.
2016 Budget speech update
The Minister of Finance announced amendments to tax and other legislation that may affect investors. These changes, which come into effect on 1 March 2016.
2015 Budget speech update
The Minister of Finance announced amendments to tax and other legislation that may affect investors. These changes, which come into effect on 1 March 2015.
