Contrary to expectations, Treasury has made good on its undertaking to reduce corporate tax, cutting the rate  to 27% from 28% and has provided significant tax relief to individuals to counter the effects of inflation.

Total tax relief amounts to R5.2bn, with R3.5bn derived from no adjustment to the fuel levy or the Road Accident Fund levy and R2.2bn from expanding the employment tax incentive. It is the first time since 1990 that there has been no increase in the fuel levy...

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