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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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