Instead of focusing on rebuilding the country after years of state capture, we were distracted by a sideshow, writes Mandy Wiener.
Mostly sunny. Mild.
Finance Minister Malusi Gigaba plans to reduce the country’s contingency reserves from more than R30bn to R8bn in the next two years to offset revenue shortfalls and to reduce borrowing.
Budget 2017 contains updated tax tables and company employees will be paying more tax and taking less home at the end of the month, explains a payroll expert.
In his budget speech the finance minister was wrestling with a national debt challenge. The vast majority of South Africans are in the same space, says an expert.
A Fin24 user impacted by the new upper tax bracket is of the view that an increase in Value-Added Tax should rather have been instituted.
Potential job losses from the proposed 11% sugary tax could possibly be completely offset by supporting the sugar industry’s long standing requests.
The 2017 Budget Speech is all about tax, as Finance Minister Pravin Gordhan looked for ways to raise money and tighten expenditure, says a tax expert.
National Treasury’s estimate of a R30bn revenue collection shortfall is optimistic, saysKyle Mandy, Director at auditing firm PriceWaterhouseCoopers
Fin24 users have described the new tax rate for the super rich as a major disincentive, amid calls for meaningful job creation and an appeal to value high income earners.
We need to ask ourselves if Finance Minister Pravin Gordhan engaged the ‘appropriate lever’ in fulfilling an urgent need to raise an additional R28bn of revenue, says Tracy Brophy.
No amount of pleading will create transformation and SA needs people with the guts and balls to build something, says former deputy chief justice Dikgang Moseneke.
Government had to draw up a budget for 2017 in an environment of difficult trade-offs, says Deputy Finance Minister Mcebisi Jonas during a debate on the Division of Revenue Amendment Bill.
Budget 2017 was unusual due to the tough economic environment in 2016 and SA narrowly having avoided going into recession, says an independent economist.
What would the national budget look like if the opponents of National Treasury could gain the upper hand? Economist Jac Laubscher takes a look.
National Treasury has made some changes to its exchange control policy regarding intellectual property and offshore investment, explains a legal expert.
Although Finance Minister Pravin Gordhan’s 2017 Budget was the best that could be done under extremely challenging circumstances, it is difficult not be disappointed, says a business leader.
From a credit ratings point of view, it still very much remains a case of wait and see after Budget 2017 was delivered by Finance Minister Pravin Gordhan.
The Financial and Fiscal Commission has cautioned that over the long term, personal income tax hikes could have a detrimental effect on economic growth
Despite a higher marginal income tax rate of 45% being introduced on taxable income over R1.5m, the National Budget maintained fiscal prudence, says OAM.
From an agribusiness perspective, Budget 2017 came against the backdrop of high food price inflation and a recent positive upturn in agribusiness confidence.
Amid fears of South Africans skipping the country over the new tax rate for those earning over R1.5m, Judge Dennis Davis reckons they likely have no qualms with the hike, but more so with how the money is used.
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