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Cecil Kilpin | February 2020 Newsletter

By |2022-01-20T13:11:50+02:00Feb 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 | February 2017 Newsletter

By |2022-01-21T11:43:57+02:00Feb 14th, 2017|Business, Newsletter, Tax|

National Budget Day, 22nd February 2017 The Treasury recently confirmed that Finance Minister Pravin Gordhan will present South Africa’s National Budget to Parliament on Wednesday, 22nd February 2017. South Africa’s slower economy last year resulted in tax revenues falling well short of expectations, and this shortfall must now be dealt with.  To ‘balance the books’, government spending will have to be cut even more, and taxes will have to be raised. In October 2016, it was proposed in the medium-term budget policy statement (MTBPS) that a further R26-billion in reductions to the public expenditure ceiling would have to be implemented over the next two years.  New tax measures amounting to R13-billion in the 2017-2018 financial year were proposed. Combined with the higher taxes announced in [...]

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