Tag Archives: Budget

Tax legislative amendments: How does it work?

As we approach the (expected) 24 February 2021 Budget Address by Finance Minister, Tito Mboweni, it is useful to consider how the proposed tax amendments raised during the Budget Speech eventually become law. As a starting point, it is important to remember that the South … Continue reading

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What lies ahead for SA’s budget?

On 24 February 2021, Finance Minister Tito Mboweni will deliver the annual budget address shortly on the heels of the State of the Nation Address a week earlier by President Cyril Ramaphosa. Given the expected R700 billion budget shortfall for the current cycle, Minister Mboweni will … Continue reading

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Cars, pets and summer holidays

The missing piece in many personal budgets. Having a budget is one of the most useful ways to stay in control of your finances. It not only helps to keep your spending below your income, but also allows you to … Continue reading

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DOES THE BUDGET SPEECH AFFECT YOU OR YOUR BUSINESS?

On 20 February 2019, Tito Mboweni, Finance Minister delivered his 2019 Budget Speech. In arguably the most uneventful budget in the past 25 years, hereby a short summary of the most significant proposals for the 2019 Budget as tabled by … Continue reading

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INTEREST FREE LOANS WITH COMPANIES

The latest annual nation budget presented in Parliament proposed the dividends tax rate to be increased with almost immediate effect from 15% to 20%. The increased rate brings into renewed focus what anti-avoidance measures exist in the Income Tax Act[1] … Continue reading

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BUDGET 2017

Following the annual national budget speech delivered by Finance Minister Pravin Gordhan on 22 February, we highlight some of the most significant matters arising below: A new tax bracket will be introduced targeting the wealthy as well as trusts. It … Continue reading

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