- Personal income tax relief for individuals amounting to R6.5bn.This partially compensates for
inflation. - Limited voluntary disclosure option for taxpayers in default
- Exchange control reforms proposed
- Interest-income exemption increased to R22 300 per year and to R32 000 for those over 65
- Standard Income Tax on Employees (SITE) system to be discontinued
- Congestion, pollution and landfill taxes considered
- Niggles remain for proposed dividend tax National Health Insurance scheme delayed for about five years
- "Tips for Pravin" to continue, using Facebook and other new forms of media
- Gambling winnings being exempt from personal income tax to be reviewed - impacts on casino, online gambling and lotto winners
- Wage subsidy for young people
- Clamp down on company car fringe benefits
For a more detailed look at the highlights of this years budget click here (pdf file 118kb)
Leave a comment