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Topic: 2022 Medium Term Budget Policy Statement

By |2022-10-28T09:17:15+02:00October 28th, 2022|Business, Finance + Economics, Goverment, Newsletter, Tax|

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 and stable macroeconomic framework and improved state capability, remain crucial to improve the economy’s productive capacity and international competitiveness. Key Issues: Since the 2022 Budget Review, global and domestic risks to the economic outlook have materialised, including slower global growth, higher levels of inflation, accelerating interest rate increases and intensified power supply interruptions Real GDP is projected to grow by 1.9 percent in 2022, compared with 2.1 percent [...]

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Cecil Kilpin | December 2021 Newsletter

By |2021-12-14T10:34:12+02:00December 14th, 2021|Business, Environmental, Finance + Economics, Innovation & I.T, Newsletter, Tax|

A Green Economy In South Africa The South African Department of Forestry, Fisheries and the Environment has defined the green economy in South Africa as “a system of economic activities related to the production, distribution and consumption of goods and services that result in improved human well-being over the long term, while not exposing future generations to significant environmental risks or ecological scarcities. It implies the decoupling of resource use and environmental impacts from economic growth. It is characterized by substantially increased investment in green sectors, supported by enabling policy reforms. The Green Economy refers to two inter-linked developmental outcomes for the South African economy: Growing economic activity (which leads to investment, jobs and competitiveness) in the green industry sector A [...]

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Cecil Kilpin | February 2020 Newsletter

By |2022-01-20T13:11:50+02:00February 27th, 2020|Business, Finance + Economics, Goverment, Newsletter, Tax|

Tax Guide 2020/ 2021: We have recently released our Tax Guide for 2020/ 21 - Download it here. Download 2020 Budget Review “The Aloe Ferox survives and thrives when times are tough. It actually prefers less water. It wins even when it seems the odds are against it. “ Tito Mboweni In a surprise move Minister Mboweni made no dramatic tax proposals to balance the books. In fact a number of proposals will actually reduce personal income tax, and, in the longer term, corporate taxes could be reduced. The budget highlights are as follows: Personal Income Tax: Relief through an above inflation increase in the brackets and rebates Medical Tax Credits: Increase in medical credits Foreign Remuneration Exemption: Exemption will be limited to R1.25m from [...]

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Cecil Kilpin | January 2020 Newsletter

By |2022-01-20T13:17:18+02:00January 22nd, 2020|Business, Finance + Economics, Goverment, Newsletter, Tax|

South Africa in the 2020s – an extract from a recent article by Clem Sunter   Just over 32 years ago in 1987, Clem Sunter published a book entitled The World and South Africa in the 1990s. For South Africa, he played the ‘High Road’ scenario where proper negotiations between the real leaders of the major parties would produce a political settlement that allowed the country to return to the world stage. However, he made it clear that in the long run a thriving economy in which everyone participated was a precondition for the country to become a winning nation.   Now let’s focus on South Africa in the 2020s.The first and second flags influencing the future are interrelated: the battle against corruption and the improvement [...]

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Cecil Kilpin | September 2018 Newsletter

By |2022-01-20T14:46:09+02:00September 13th, 2018|Business, Finance + Economics, Newsletter, Tax|

Economy Shrinks By 0.7% The South African economy slipped into recession during thesecond quarter of 2018, shrinking by 0,7% quarter-on-quarter. This followed a revised 2,6% contraction in the first quarter of 2018. The widely recognised indicator of recession is two (or more) consecutive quarters of negative growth. South Africa experienced its last recession during the 2008–2009 global financial crisis with three consecutive quarters of economic decline. The 0,7% downturn in the second quarter of 2018 was a result of a fall-off in activity in the agriculture, transport, trade, government and manufacturing industries. Agriculture production fell by 29,2% in the second quarter of 2018, following a 33,6% slump in the first quarter. This was largely driven by a decline in the production of field crops and [...]

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