Economic Growth

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Cecil Kilpin | July 2020 Newsletter

By |2020-12-03T06:37:24+02:00Jul 31st, 2020|Business, Finance + Economics, Goverment, Newsletter, Tax|

Donations made to the Solidarity Fund The deduction available for donations increased. To alleviate the cashflow difficulties of employees where their employers contribute to the Solidarity Fund on their behalf, Government is proposing a special relief measure by temporarily increasing the current 5% tax limit in the calculation of monthly PAYE of the employee. An additional limit of up to a maximum of 33.3% for three months or 16.66% for six months, depending on an employee’s circumstances, will be available.   This will ensure that the employee gets the deduction that is in excess of 5% much earlier than under normal circumstances and will therefore not have to wait until final assessment to claim a potential refund, provided the donation is made to the Solidarity [...]

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Cecil Kilpin | November 2019 Newsletter

By |2019-11-22T16:42:52+02:00Nov 1st, 2019|Business, Finance + Economics, Goverment, Newsletter, Tax|

Medium Term Budget Policy Statement 2019 The 2019 MTBPS has been resented by Minister Tito Mboweni. His opening statement was a reference to the Aloe Ferox plant he brought to Parliament when presenting the February 2019 budget. “This little aloe is emerging from a long winter. During that winter, the ground became hard. The leaves fell from the trees and the air was bitterly cold. We toiled, hoping for better days. Our people became poorer. Some lost their jobs.” The above statement sums up his presentation. The key points are as follows: Economic growth is projected at 0.5 per cent for 2019, as long‐term growth estimates have fallen. As a result, revenue projections have been sharply reduced. Spending pressures continue to mount, led by the [...]

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Cecil Kilpin | February 2019 Newsletter

By |2019-02-19T15:48:38+02:00Feb 13th, 2019|Finance + Economics, Goverment, Newsletter, Tax|

Budget 2019 - What can we expect In the past few years we haven’t been sure who would present our budget speech let alone predict what was to be presented! While there are huge expectations that Minister Mboweni’s maiden full budget speech will deliver answers to all our problems, political and financial constraints will come into play. So, what are some of the key issues: Economic Stimulus  Every political party is lobbying for support on the basis that they will provide the economic growth required to provide jobs and a better life for all. The reality is that Treasury has little room to play with and it will be interesting to see what is tabled. Election Year Elections are scheduled for the 8th May 2019. We [...]

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Cecil Kilpin | November 2018 Newsletter

By |2018-11-20T11:52:07+02:00Nov 2nd, 2018|Business, Finance + Economics, Goverment, Newsletter, Tax|

The 17 Sustainable Development Goals (SDGs) The 17 Sustainable Development Goals (SDGs) of the 2030 Agenda for Sustainable Development were adopted by 193 world leaders in September 2015 at the United Nations General Assembly: “Transforming our World: the 2030 Agenda for Sustainable Development” [known as Agenda 2030]. They officially came into force on the 1 January 2016. South Africa is one of the member states of the United Nations. The 2030 Agenda consists of four parts: Vision and principles Goals and Targets Means of implementation Follow up review mechanism Vision and principles: Countries that have committed to the 17 SDGs have until 2030 to achieve 3 overarching goals which underpin the Agenda. They are: To end extreme poverty To fight inequality and injustice To fix climate [...]

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