Taxpayers get surprise R14bn in tax relief in Tito Mboweni’s budget
The surprise announcement by Mboweni not to increase tax rates is aimed at not further slowing down the already sluggish economy
Individual taxpayers have been given unexpected tax relief of R14bn, including R2bn through the adjustment of tax brackets by more than the inflation rate.
The surprise announcement in finance minister Tito Mboweni's budget was the decision not to increase tax rates so as not to slow down the already sluggish economy. This reverses the plan of the 2019/2020 budget for R10bn of tax increases for 2020/2021...