Budget News 2019 | 20 February 2019

Posted on: February 20th, 2019 by STBBSiteOwner

The new Minister of Finance, the Honourable Mr. Tito Mboweni, delivered the National Treasury budget for 2019/2020 this 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.

For further details, contact your STBB attorney.

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