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Budget sparks green transition – corporates must now take the lead

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The 2024 South African budget speech from Finance Minister Enoch Godongwana shows sustainability taking centre stage. The national budget’s clear reprioritisation towards electric vehicles demonstrates that government is walking the talk on emission reduction and cleaner transport.

Budget 2024 avoids direct tax increases

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Minister of Finance Enoch Godongwana delivered his Budget Speech 2024 to Parliament and the nation on 21 February 2024. A key announcement was that tax rates will not be increased in 2024/2025, as previously signalled by the Medium-Term Budget Policy Statement (MTBPS) 2023, to generate the extra R15 billion needed in revenue.

No major tax hikes but budget fails to deliver any relief...

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Catherine Wijnberg | CEO | Fetola | mail me | The 2024 budget speech was a fine balancing act between stabilising the country’s debt burden...

Budget 2024 | SA Finance Minister Enoch Godongwana’s Speech

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The 2024 Budget was tabled to Parliament on 21 February 2024 by South African Finance Minister Enoch Godongwana. Tax Pocket Guide Honourable Speaker, Nosiviwe Mapisa-Nqakula His Excellency,...

Budget 2024 – mixed expectations in an election year

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With the budget speech being delivered in an election year, I expect to hear populist promises and over-optimism which is geared more to voters than the financial markets. We will need to scrutinise the numbers coming out of the budget very carefully to see if Finance Minister Enoch Godongwana’s budget proposals are viable and achievable given the country’s high debt burden and strained tax base.

Budget 2024 – navigating uncertainty in challenging times

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Minister of Finance Enoch Godongwana will deliver the 2024 Budget Review to Parliament next week as the South African economy faces a gloomy economic outlook. The economy is still recovering from the impact of COVID-19 and state capture.

Serfdom awaits if we do not allow poor South Africans to...

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South Africans have been slowly marching towards serfdom, and unless something drastic changes, this march will continue. With this year’s budget speech on the horizon, in an election year, the country and the world will get a glimpse as to how bad things could be in the short to medium term.

‘Two-pot system’ for retirement funds to commence 1 March 2024

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In his budget speech on 22 February 2023, the Minister of Finance announced that the proposed two-pot system will take effect on 1 March 2024. Many had hoped for a delayed implementation date, given the development required to systems to accommodate the new structure.

The 2023 Budget – short terms gains not enough

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On Wednesday afternoon, the Minister of Finance, Enoch Godongwana, had the unenviable task of delivering the annual Budget Speech. Over the last year, and especially over the last few months, South Africa has taken one knock after another.

New loss utilisation restrictions and section 36 mining capital allowances

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In 2021 amendments were proposed relating to section 20 of the Income Tax Act 58 of 1962 to limit corporate taxpayers’ ability to utilise assessed losses carried forward to 80% of the value of such assessed losses in a given year of assessment.

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