Budget

Gordhan announces hard-hitting personal tax increases

Finance Minister Pravin Gordhan has announced hard-hitting increases in personal income tax of R16.5bn for 2017-18‚ as economic growth stutters and revenue collection falls short of expectations. These increases are part of a total R28bn package of tax hikes. Tax revenue has deteriorated by a further R7bn since the medium-term budget[…]

Read »

SJC marches to Mayors office

Dozens of Khayelitsha residents marched to the Cape Town Civic Centre to a deliver a petition on Tuesday, demanding safe, clean and dignified sanitation services. The petition, led by the Social Justice Coalition (SJC), included the signatures of 5000 Khayelitsha residents ahead of Mayor Patricia de Lille’s 2016/17 budget speech[…]

Read »

Budget blues for consumers

Consumers burdened by debt will be hardest hit by increases in fuel and tax levies announced by Finance Minister Pravin Gordhan in his Budget yesterday. Although analysts said that Gordhan was left with little choice but to craft a tight budget, consumers complained his measures would leave them short. Many Capetonians[…]

Read »

Social grants increase dismal: Black Sash

Social rights advocacy group Black Sash has criticized the decision of Finance Minister Nhlanhla Nene to increase social grants by a meager R60, noting that the increase is not in line with the country’s current inflation rate. As a result of the increase, pension and disability grant recipients will now[…]

Read »

Analysts give mixed reviews on 2015 budget

South African’s are expecting to part with their money less over the course of the next year, with the country’s economy set to remain bleak as a result of a widening budget deficit. The group most hard-hit will likely be those within the middle income bracket, with tax increases likely[…]

Read »

Nene mum on sale of non-core assets

Finance Minister Nhlanhla Nene on Thursday again refused to identify the non-core state assets which would be sold off to raise money for Eskom. Briefing a joint meeting of Parliament’s finance committees, Nene said the sale was almost finalised. “No matter how much we would actually want to identify these[…]

Read »

RAF welcomes fuel levy hike

The Road Accident Fund was given a temporary lifeline with Finance Minister Nhlanhla Nene’s announcement of a 50c hike in the fuel levy, it said on Wednesday. “This raises the compensation scheme’s primary source of income from 104c to 154c per litre of fuel sold, a percentage increase of 48[…]

Read »

Budget mixed for taxpayers: analysts

Finance Minister Nhlanhla Nene’s 2015/16 budget contained mixed messages for individual taxpayers, PricewaterhouseCoopers (PwC) said on Wednesday. PwC tax consultant Ian Wilson said in a statement that measures announced in the budget signalled relief for low- to middle-income earners and increased the income tax burden for middle- to high-income earners.[…]

Read »

Presidency budget under the spotlight

The presidency received R6 million in legal bills for the financial year of 2010/11, against a budget of R1m for that period, Beeld reported on Wednesday. At a meeting of Parliament’s Standing Committee on Public Accounts on Tuesday, unauthorised expenditure of around R45m at the presidency was also discussed. Around R17m[…]

Read »

Best school budget buys

With the beginning of the academic year kicking off, parents are forced to break the bank with unavoidable purchases of school stationery essentials. For those who have not budgeted for these items or that have more than one child, it can be a costly and time consuming nightmare. Retail giant[…]

Read »
WhatsApp WhatsApp us
Wait a sec, saving restore vars.