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NEWSFLASH 2021/2022 Budget News

The Minister of Finance, Mr Tito Mboweni, delivered the National Treasury’s budget for 2021/2022 yesterday afternoon.


The following stand out:


1. The general fuel levy increases by 15 cents per litre, and the road accident fund levy increases by 11 cents per litre on 7 April 2021.


2. Capital Gains Tax effective rates remain unchanged:

- Individuals and special trusts - 18%

- Companies - 22.4%

- Other trusts - 36%


3. Estate Duty remains unchanged at 20% on the first R30 million, and 25% for the amount above R30 million.


4. Withholding tax remains unchanged at 7,5%, 10% and 15% on the sale of immovable property by a non-resident.


5. Income tax thresholds have increased to:



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