Economic Outlook

Home/Tag: Economic Outlook

Cecil Kilpin | March 2022 Newsletter

By |2022-03-07T16:13:40+02:00Mar 7th, 2022|Business, Environmental, Finance + Economics, Newsletter, Tax|

2022/2023 Budget Highlights The Minister of finance Enoch Godongwana tabled his Budget review on the 23 rd February 2022. The following were the key tax issues arising. Personal Income Tax: Inflationary relief through a 4.5 percent adjustment in the tax brackets and rebates Employment Tax Incentive: Expanded through a 50 percent increase to a R1 500 per month Fuel & RAF Levies: No change to the general fuel levy or the Road Accident Fund (RAF) levy Excise Duties: Increases of between 4.5 percent and 6.5 percent on alcohol and tobacco Corporate Income Tax: Effective for tax years ending on or after 31 March 2023 the rate is reduced to 27% Disclosure of Wealth: It is proposed that all provisional taxpayers with assets above R50 [...]

Comments Off on Cecil Kilpin | March 2022 Newsletter

Cecil Kilpin | November 2021 Newsletter

By |2022-01-19T17:03:21+02:00Nov 25th, 2021|Business, Finance + Economics, Goverment, Newsletter, Tax|

Economic Outlook Below is a brief synopsis of the economic outlook as presented at the Medium-Term Budget Policy Statement (MTBPS). The South African economy grew faster than expected in the first half of 2021, but this momentum is expected to wane following public violence in July, port and rail disruptions, and the third wave of COVID-19 infections Real GDP is forecast to grow by 5.1 percent in 2021. Output is expected to return to pre-pandemic levels in 2022, a year earlier than estimated in February. This is largely the result of global demand, higher commodity prices and the easing of COVID-19 lockdown restrictions Household consumption has improved but has not fully recovered from the pandemic. Inflation is contained [...]

Comments Off on Cecil Kilpin | November 2021 Newsletter

Cecil Kilpin | June 2020: Supplementary Budget

By |2022-01-20T12:23:06+02:00Jun 26th, 2020|Business, Finance + Economics, Goverment, Newsletter, Tax|

Liduma lidlule!The storm shall pass! The purpose of the supplementary budget is obviously due to the historic nature of this pandemic and economic downturn. A second adjustments budget in October will be tabled together with the Medium‐Term Budget Policy Statement. The Budget Does Two Things:First, it brings an Adjustments Appropriation Bill and a Division of Revenue Amendment Bill to the House. These Bills ask Parliament to approve the response package for COVID‐19.   Second, it lays a path for the direction the president gave us on 21 April to “not merely return our economy to where it was before the Corona virus, but to forge a new economy in a new global reality” This Supplementary Budget sets out a road-map to stabilise debt, by improving spending patterns, and creating a foundation for economic [...]

Comments Off on Cecil Kilpin | June 2020: Supplementary Budget
Go to Top