After an unprecedented postponement triggered by widespread disagreements within the GNU (Government of National Unity) regarding a proposed VAT increase, Finance Minister Godongwana presented the 2025/2026 National Budget Speech on 12 March 2025. Below is a summary of the tax-related changes: - VAT (Value Added Tax) Considering the impact of a VAT adjustment, VAT [...]
Finance Minister Enoch Godongwana announced his budget speech on Wednesday 21st February 2024, that he hoped would alleviate immediate fiscal pressures. It was disappointing news for South Africa’s already struggling households to hear that the additional R15 billion needed to balance the budget, will come out of the pockets of individual taxpayers. To achieve [...]
Finance Minister Malusi Gigaba delivered the budget speech today that has been described as responsible and balanced under the current circumstances and likely to put South Africa in a healthier fiscal position. Ratings agencies are also looking at it favorably however the budget isn’t without its surprises, namely the hike in VAT for the [...]
South African finance minister Pravin Gordhan delivered the 2016 Budget on Wednesday afternoon. It was never pegged as being an easy task given the tough economic times the country is experiencing and that any wrong move could result in South Africa receiving a “junk status” rating. He did however manage to avoid an austerity [...]
Our new finance minister, Nhlanhla Nene delivered his first budget speech earlier today with increases aplenty. In this article, we will touch on some of the highlights from the 2015 Budget speech that may affect you, looking at the good and the bad. Starting with the bad... Income Tax Increases Bad news if you [...]
It’s budget time again and in an effort to keep things simple, we have put together an article with some of the highlights from yesterday’s budget speech. If you are looking for all the details from Pravin Gordhan’s 2012 / 2013 budget speech, download the handy Pocket Tax Guide here. Personal income tax: If [...]
