National budget: 10 things worth knowing

2012-02-22 13:44

Key points from Finance Minister Pravin Gordhan’s budget speech.

1. Gauteng e-tolls will be slashed in half to 30c/km for cars (was 66c/km). E-tolls will be capped at R550 per month for frequent users

2. Personal income tax relief of R9.5 billion

3. Cigarettes to cost 58c more (R10.32 per packet)

4. Unfortified wine up by 13.5c per 750ml bottle; fortified wine up by 17.5c/750ml. Spirits up by R6 to R36 per 750ml bottle. Malt beer up by 9c to R1.01 per 340ml can; ciders and alcoholic fruit beverages up by 8.6c to 98c per 330ml bottle

5. Petrol up by 28c/l – 20c/l for fuel levy, 8c/l for Road Accident Fund from April 4 2012

6. Electricity levy up by 1c/kWh

7. Total public spending will reach R1.1 trillion, representing 32% of GDP

8. Tax credits for contributions to medical schemes: R230/month for first two beneficiaries, R154 thereafter

9. R1bn for national health insurance pilot project; R9.5bn for economic competitiveness and support package; R6.2bn for job creation

10. R4bn for passenger rail coaches; R4.7bn for solar water geysers; R1.8bn for municipal water and R3.9bn for upgrading informal settlements

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