Fiscal Policy

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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 [...]

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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 [...]

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Cecil Kilpin | November 2018 Newsletter

By |2022-01-20T14:33:16+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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