tax rates

Despite the rise in taxation on CGT and transfers of property over R10 Million, an increase in Social grants of up to R90.00 monthly and a decrease in taxation for lower and middle income earners seems as though the rich will still carry on getting richer. The 2016 Budget sees a reduction of R5.65 billion in personal income tax payable by individuals. This Budget provides for some changes to personal income tax, including adjustments to the three lower taxable income tax brackets and … [Read more...] about In a Nutshell