National Budget Speech

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Cecil Kilpin | February 2023 Newsletter

By |2023-02-07T19:43:46+02:00February 7th, 2023|Business, Finance + Economics, Goverment, Newsletter|

Budget Date Set for 22nd February. The Minister of Finance, Mr Enoch Godongwana, will deliver the National Budget Speech on 22 February 2023. As usual, the budget allocation always aims to strike a balance between competing national spending priorities and limited resources. This budget promises to be a tough balancing act, with little or no wiggle room. The following key areas need to be addressed: Municipal finances Government spending priorities and what these should be Addressing a large budget deficit Stabilising State-Owned Entity finances Managing the energy crisis Tax revenues Debt sustainability We will keep you informed on all relevant budget announcements. 2023 SARB Economic Outlook (MPC Extract). As this [...]

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Cecil Kilpin | March 2022 Newsletter

By |2022-03-07T16:13:40+02:00March 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+02:00February 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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