2018 BUDGET NEWS

Minister of Finance, Mr Gigaba, delivered the National Treasury’s budget for 2018/2019 this afternoon. The following amendments stand out:

• VAT increases from 14% to 15% on 1 April 2018.

• Estate duty increases from 20% to 25% on dutiable portion of estates of more than R 30 million.

• Donations Tax increases from 20% to 25% on amounts donated in excess of R30 million.

• The fuel levy increases with 52c per litre.

• The transfer duty threshold remains at R900 000.

• Increase in the ad-valorem excise duty rate on luxury goods (motor vehicles, electronics etc.) from 7 % to 9%

21 Feb 2018
Author STBB

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