SARS’s enhanced compliance efforts add R301.5bn to revenue
The South African Revenue Service outperformed its revised estimates for 2024/25, buoyed by strong personal income tax, VAT, and company income tax collections.
#personalincometax
Higher VAT will impact business operations and consumer spending
The Minister of Finance cites an average 19% VAT among peers to argue that South Africa’s 15% rate is low, but isolated comparisons miss key factors such as exemptions, corporate rates, and overall business costs.
Two (?) VAT hikes and no adjustments to the income tax brackets
A comprehensive round-up of the tax proposals affecting individual taxpayers and consumers.
Taxed out: why South Africa’s spending problem can’t be ignored
Experts slam the idea of a VAT increase, pointing to a record tax burden and bloated expenditure. From uncollected billions to inefficient governance, the real fix lies in reining in waste, not squeezing taxpayers.
Will a 2% VAT hike fix the Budget – or break consumers?
The VAT hike could add R58bn to government revenue, but with coalition partners clashing over its impact on ordinary South Africans, the debate over how to fund critical services without deepening the cost-of-living crisis is far from settled.
Tax adjustments, debt concerns, and relief measures: a look at the Budget that wasn’t
A postponed Budget Speech means uncertainty for taxpayers, but the VAT hike and personal income tax adjustments offer insight into the government’s fiscal strategy.
SARS will tighten the compliance screws to hit R1.84 trillion tax target
The MTBPS shows tax revenue will be below the Budget estimates, but SARS is adamant it will do everything in its power to collect as much money as it can.
How the two-pot system may impact household income and inflation
Economists assess the possible impact of the reforms on household consumption, real fixed investment, inflation, government debt, and GDP growth.
NHI: We are going to have equality whether people like it or not, says Ramaphosa
Solidarity and AfriForum are the first out of the starting blocks with legal challenges to the NHI Act.
Tax collection in 2023/24 comes in at R10bn more than expected
SARS rakes in more from personal income and VAT, but corporate tax slumps by almost 9%.
Income from influencer activities is taxable
A common misconception among influencers earning income from international sources is that payments from abroad are not subject to taxation in South Africa.
Budget 2024: how the inflation monster will affect taxpayers
The Budget Review suggests that National Treasury does not intend adjusting the tax brackets for at least another two years.
Budget 2024: bad news for personal income taxpayers
Here are the government’s proposals for PIT, the medical tax credits, the fuel levies, and the duties on alcohol and tobacco.
Treasury anticipates tax windfall from two-pot retirement system
Many fund members are likely to withdraw the seed capital from their savings component.
How much tax you may have to pay to fund NHI
The substantial tax increases would have to be implemented in an already tough economic environment, says a report by FTI Consulting.
Positive Budget bodes well for domestic bonds and equities
Old Mutual weighs in on how the Budget is likely to affect the country’s credit rating, economic growth, and the capital markets.
Fiscal risks to SA remain despite government’s debt-containment measures
National Treasury continues to toe the line between fiscal continuity, consolidation, and declining revenues amid an increasingly stagnant local economy.
