Health Promotion Levy

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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 | August 2017 Newsletter

By |2022-01-21T11:12:08+02:00Aug 3rd, 2017|Business, Finance + Economics, Newsletter, Tax|

SARS PUBLISHES DRAFT TAX AMENDMENT BILLS National Treasury and SARS have published, for public comment, various tax amendment bills. Together with the 2017 Draft Rates, Monetary Amounts and Amendment of Revenues Laws Bill published on 22 February 2017, these three draft Bills give effect to the tax proposals announced in the Budget Review. The two draft Bills released include most of the more complex and administrative tax proposals but exclude the proposals dealt with in the 2017 Draft Rates Bill, such as: changes to the personal income tax brackets, rates and excise duties and the introduction of the Health Promotion Levy (the proposed sugary beverage tax).Some of the key tax proposals contained in the 2017 Draft bills are: A higher fringe benefit exemption for bursaries [...]

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