top of page
  • Writer's pictureThe Kaplan Team

NEWSFLASH Budget news 2019

Updated: Apr 7, 2020

The new Minister of Finance, the Honourable Mr. Tito Mboweni, delivered the National Treasury budget for 2019/2020 yesterday afternoon. Whilst there were no radical changes in the tax sphere, the following stand out:

· A small adjustment to income tax thresholds.

· No adjustment in the income tax brackets for individuals (no inflationary adjustment).

· No adjustment in transfer duty or the threshold of R900,000.

· No increase the inclusion rate of capital gains tax.

· Fuel levy increase below inflation (29c for petrol and 30c for diesel).

· 7.4% to 9% increase in sin taxes.

· Carbon Tax to be implemented on 1 June 2019.

Contact our professionals for further details.

2 views0 comments



This article is not intended to constitute legal advice and is produced for information purposes only and to provide a general understanding of the legal position relating to the topic. It is recommended that advice relating to the specific circumstances of your situation be sought from our attorneys before acting upon the content of this article. This article was written at a particular point in time and accordingly may not always reflect the most recent legal developments, if any, applicable to the relevant topic. Kaplan Blumberg and its partners and/or employees, are not responsible for any consequences which may follow upon any decision taken to act upon the information provided in this article.

bottom of page