Minister of Finance

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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 | February 2022 Newsletter

By |2022-02-03T10:01:32+02:00Feb 3rd, 2022|Business, Environmental, Finance + Economics, Newsletter, Tax|

2022 Budget Tips - Make Your Voice Count The Minister of Finance, Mr Enoch Godongwana, will deliver his inaugural National Budget Speech on 23 February 2022. As usual, the budget allocation always aims to strike a balance between competing national spending priorities. It is in this context that Minister Godongwana invites South Africans to share their suggestions on the Budget – what should the government be spending the money on, how to address a large budget deficit, new sources of tax revenues, and other Budget-relevant information. Minister Godongwana looks forward to your contributions. NB: Contributions can be sent through - National Treasury website here: https://bit.ly/3ruszsi Twitter: @TreasuryRSA Facebook: National Treasury RSA with the hashtag #TipsForMinFin and #Budget2022 [...]

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Cecil Kilpin | October 2019 Newsletter

By |2022-01-20T13:45:02+02:00Oct 21st, 2019|Business, Finance + Economics, Goverment, Newsletter|

Developing a Strategy to Grow in the Short Term South Africa has limited growth potential in the short term. While government gets its house in order, we need to make sure that, as business owners, we have the correct strategy in place to meet the challenges that face us. Real value lies in the process ofputting the plan together. The act of planning helps you think things through thoroughly, and to critically re-assess your assumptions and ideas. A good strategy needs to be short, sharp and coherent, with a strong opening paragraph illustrating where you are going and how you aim to get there.   STRATEGY AND GOALS List your goals and your mission statement Develop a strategic plan of how your business will achieve [...]

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Cecil Kilpin | September 2019 Newsletter

By |2022-01-20T13:52:21+02:00Sep 18th, 2019|Business, Finance + Economics, Goverment, Newsletter|

Economic Policy Paper for Public Comment The Minister of Finance, Mr Tito Mboweni, is calling on members of the public to make comments on a paper titled: “Economic transformation, inclusive growth, and competitiveness: Towards an Economic Strategy for South Africa”. The paper, prepared by the National Treasury, is an attempt to translate the broad outcomes of inclusive growth, economic transformation, and competitiveness into specific programmes and draw on a range of domestic and international literature to support these policy priorities.   This paper considers the contribution of specific growth reforms that can achieve the outcomes of economic transformation, inclusive growth, and competitiveness. The paper draws on the National Development Plan to outline six themes and the contribution of growth reforms within each theme that prioritize economic transformation, inclusive growth, and competitiveness. The themes include: [...]

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Cecil Kilpin | May 2017 Newsletter

By |2022-01-21T11:30:29+02:00Apr 26th, 2017|Business, Finance + Economics, Goverment, Newsletter|

What Junk Status Means for South Africa For the first time in 17 years, South Africa's credit rating has been downgraded to "non-investment grade" or "junk" status by the ratings agencies S&P Global and Fitch. The third major rating agency, Moody’s, is yet to announce their revised credit rating for South Africa. This financial downgrade will make it more expensive for South Africa to borrow money as lending to this country is now considered to be very risky.  A bit like individuals with a poor credit rating who resort to borrowing from ‘loan sharks’, the SA government will now have to borrow from investors who are willing to invest in higher risk debt - this is expensive.Putting this into perspective, for the period April 2015 [...]

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