Budget 2017

[Gtx Gaming]

The annual allowance for tax
free savings accounts will be increased to R33 000. T

 

[Priapus]

How much did sin taxes go up?j

6-10%

 

[konfab]

They actually wonder? I thought they didn't give a flying toss

They do give a toss. Which is why they will hike the inflation rate, further tightening the screws of oppression.

 

[Priapus]

wasn't it R149B?

Correct. Typo on my part.

 

[Priapus]

"No transfer duty for houses under 900k"

 

[powermzii]

Possibility of reduction in medical tax credits % (in future) in order to fund national health scheme

 

[powermzii]

DWT also going up to 20% from 15%

 

[Priapus]

Sugar tax to be implemented later this year. Carbon tax implemented date will be discussed later this year.

 

[Garson007]

Possibility of reduction in medical tax credits % (in future) in order to fund national health scheme

Let's balance the budget first before we start giving out more money, mkay?

Trusts are getting raped by the new 45% bracket.

 

[JStrike]

The annual allowance for tax
free savings accounts will be increased to R33 000. T

Thats the only nice part of this budget.
But DWT going from 15% to 20% is brutal. That really, really hurts

 

[powermzii]

Let's balance the budget first before we start giving out more money, mkay?

Trusts are getting raped by the new 45% bracket.

You wont hear a disagreement from me - but i guess someone (US) has to pay for it..lol

 

[OCP]

DWT also going up to 20% from 15%

DWT?

 

[Priapus]

Let's balance the budget first before we start giving out more money, mkay?

Trusts are getting raped by the new 45% bracket.

How so? isn't it income tax only over 1.5 million ?

 

[powermzii]

DWT?

Dividend Witholding Tax - the amount taxed on dividends paid out by companies

 

[TheChamp]

"No transfer duty for houses under 900k"

Good one.

 

[Rkootknir]

How so? isn't it income tax only over 1.5 million ?

Trusts pay a flat rate on net income. So up to 28/02 they pay 41% and from then on 45% - almost a 10% increase in tax.

 

[FoXtroT]

Thats the only nice part of this budget.
But DWT going from 15% to 20% is brutal. That really, really hurts

They give with one hand and take away with another.

 

[Drifter]

Thats the only nice part of this budget.
But DWT going from 15% to 20% is brutal. That really, really hurts

Ouch!!! I though they were trying to motivate us to save and invest!!!!

 

[Garson007]

How so? isn't it income tax only over 1.5 million ?

Trusts get taxed at the top bracket from 1 cent.

Also massive increase for foreign ownership. Should drop the Cape Town prices a bit, maybe.

 

[rietrot]

"No transfer duty for houses under 900k"

At least 1 big positive.