Budget Speech 2015

NENE APPOINTS ADVISORY COMMITTEE AT SARS

Finance Minister Nhlanhla Nene on Wednesday announced that he has appointed an advisory committee headed by a retired judge to help resolve the woes of the SA Revenue Service (Sars).

Nene made the announcement shortly before tabling his first main budget in the National Assembly, for 2015/16, and said the committee would be headed by retired Judge Frank Kroon.

"Our biggest interest is to restore the integrity of the institution, while matters that need to be addressed continue to be addressed," he told a media briefing.

"In terms of section 11 of the South African Revenue Service Act, the minister may appoint an advisory committee to advise him on matters that relate to governance and organisational arrangements," said Nene, who was flanked by Sars Commissioner Tom Monyane.

"We therefore have taken a decision to appoint this committee, working with the commissioner, and I have just had a conversation with the retired judge who is going to be leading this committee to take over this task, in order to remove this from personalities."

Nene said unlike his predecessor Pravin Gordhan, who had served as SARS commissioner, he had no experience of working for the revenue service.

"It was seen as prudent to appoint somebody who would deal with the task [and] advise both of us and assure that the integrity of the institution is restored."

"Judge Frank has agreed to take on this task."

He said the terms of reference of the committee had been drafted and he was in consultation with the justice department on appointing its other members.

Kroon retired from the Eastern Cape Division of the High Court in 2011.

SARS has been destabilised by allegations of a "rogue intelligence" unit in its ranks and the suspensions and departures of several senior executives.


Source : Sapa /ef/jk
Date : 25 Feb 2015 14:29
 
SeRpEnT said:
No why would they want to upset their wealthy backers and tenderpreneur cadre buddies?
Rather milk the middle class dry.
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Learn to read. They're raising it for all tax brackets. Not just the middle class. I'm okay with this budget, personally they should nail sin taxes harder like 1R on beer.
 
semaphore said:
Learn to read. They're raising it for all tax brackets. Not just the middle class. I'm okay with this budget, personally they should nail sin taxes harder like 1R on beer.
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Anyone who pays income tax in this country is effectively "middle class".
 
Nine-point plan to boost growth and create jobs
1. Resolving the energy challenge
2. Revitalising agriculture and agro-processing
3. Adding more value to our mineral wealth
4. Industrial Policy Action Plan
5. Encouraging private investment
6. Moderating workplace conflict
7. Unlocking small business potential
8. Boosting the role of state companies
9. Operation Phakisa, aimed at the ocean economy and other sectors
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LOL
 
It's decent...no more. I would have preferred a permanent freeze on Government salary expenditure growth for the next 2-3 years but I'll take a year at a time.

The SARS thing is disturbing a bit.
 
cr@zydude said:
Capital gains tax would hit the rich harder. I was expecting it to go up.
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Agreed... so was I.

I'm pleasantly surprised by this budget speech in general, but that doesn't mean its not going to hurt ALOT of peoples pockets in a very bad way.
 
TBH, the one thing I would have wanted to see change is the Energy-Efficiency Tax Incentive.

Expand it to include Residential properties, and to include things like Solar.... give me the option of getting a tax rebate for having solar installed and decreasing my load on the grid.
 
semaphore said:
What do you find depressing?
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On a macro economic level, the government with the policies being
Implemented are constraining the growth of the country. The money allocation leans more to expenditure instead of capital investment such as infrastructure. Instead of efficiently utilizing funds, it is being squandered on luxuries within government. This in turn is leading to. a budget deficit as the limiting growth prevents additional tax to be collected. Therefore, the only way to make it up the deficit is to increase taxes. Specifically on the tax base that are already overburdened (some of it self induced due to high debt).

At the end. It isn't about paying taxes, but how the taxes are used. And this is what is depressing. There is no incentive by govt to tighten their belts. All they do is shift the burden of their inefficiencies onto the citizen of the country.

And let me not start with shadow taxes

/rant ended
 
ToxicBunny said:
Anyone who pays income tax in this country is effectively "middle class".
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Oh really.
Please tell me more about someone earning R150 000 a year is middle class and someone earning R2m a year is middle class
 
creeper said:
On a macro economic level, the government with the policies being
Implemented are constraining the growth of the country. The money allocation leans more to expenditure instead of capital investment such as infrastructure. Instead of efficiently utilizing funds, it is being squandered on luxuries within government. This in turn is leading to. a budget deficit as the limiting growth prevents additional tax to be collected. Therefore, the only way to make it up the deficit is to increase taxes. Specifically on the tax base that are already overburdened (some of it self induced due to high debt).

At the end. It isn't about paying taxes, but how the taxes are used. And this is what is depressing. There is no incentive by govt to tighten their belts. All they do is shift the burden of their inefficiencies onto the citizen of the country.

And let me not start with shadow taxes

/rant ended
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You do realise Government expenditure growth has been falling dramatically right?
 
ToxicBunny said:
TBH, the one thing I would have wanted to see change is the Energy-Efficiency Tax Incentive.

Expand it to include Residential properties, and to include things like Solar.... give me the option of getting a tax rebate for having solar installed and decreasing my load on the grid.
Click to expand...

Apparently more is to be announced at a later stage around this issue
 
JStrike said:
Oh really.
Please tell me more about someone earning R150 000 a year is middle class and someone earning R2m a year is middle class
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Yes, the guy earning R2m is not middle class, he's rich...

but anyone who pays tax is at the very least middle class....

Didn't think the gist of my statement was that hard to grasp really.
 
ToxicBunny said:
Yes, the guy earning R2m is not middle class, he's rich...

but anyone who pays tax is at the very least middle class....

Didn't think the gist of my statement was that hard to grasp really.
Click to expand...

Fair enough, I misunderstood you.
The guy earning less than R150k a year is hardly middle class though
 
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