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2018 BUDGET NEWS

Category General News

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%

Author: STBB

Submitted 21 Feb 18 / Views 1909