The supportive global conditions that spurred the economic recovery in 2021 are dissipating, and domestic shocks – Particularly power cuts – have lowered economic growth and confidence. A broad slowdown in global growth and high inflation are forecast. Rapid and decisive implementation of structural reforms, especially in the energy sector, supported by a clear [...]
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 [...]
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 [...]
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 [...]
