Budget Speech 2022: Focus areas to take note of
The Budget Speech 2022 included a welcome relief for personal and corporate taxpayers. With a 4,5% adjustment aligning with inflation, the personal income tax (“PIT”) table has been adjusted accordingly, meaning that the annual tax-free threshold for a person under the age of 65 will for example increase from R87,300 to R91,250. For companies with […]
The 2021 Budget Speech in bite-sized bits
Setting the tone: “We owe a lot of people a lot of money” – Hon. Min. Tito Mbweni, Budget Speech 2021 This sentence is probably the most memorable one with South Africa’s borrowing requirement remaining above R500 billion in each year over the medium term, increasing our gross loan debt from R3,95 trillion […]