Artikel 7(C) vir Jan Alleman
February 28, 2019
Shareholders’ agreements 101
February 28, 2019

Budget Speech 2019

On Wednesday, 20 February 2019, all eyes were on the Minister of Finance in Parliament, when he delivered his budget speech. Given the fact that our country finds itself in an election year in 2019, minimal changes were expected and were also the order of the day.

For the first time in years, no changes to personal income tax tables have been made and personal income tax rates remain unchanged. However, National Treasury has made marginal adjustments to rebates.

A brief summary of the key proposals for the 2019 budget follows:

  • An increase of 1,1% in primary, secondary and tertiary rebates for individuals, which offers a small amount of relief for inflation. The change in the rebate will increase the tax-free threshold of R78 150 to R79 000.
  • The medical tax credits, which are usually adjusted for inflation, remain unchanged and amount to R3 720 per person per year for the first two members and R2 508 per person per year for each additional member.
  • Interest exemptions for persons under and above 65 remain unchanged (R23 800 and R34 500 respectively).
  • The general fuel tax will increase by 29 cents per litre for petrol and diesel by 30 cents per litre (effective 3 April 2019).
  • Excise duty on tobacco products and alcohol will increase by between 7,4% and 9% (effective 1 March 2018).
  • No changes to corporate tax rates, VAT or dividend tax.
  • Zero-rated tax on white bread flour, cake flour and sanitary products for VAT purposes from 1 April 2019.

This list is not complete. You are welcome to download ASL’s electronic tax guide from our website – CLICK HERE. 

Do not hesitate to contact us (tax@asl.co.za or 021 840 1600) if you have any queries regarding the legislative amendments or if you would like your tax matters to be reviewed. We would like to arrange a meeting with you to determine how we can address these needs.

 

Begrotingsrede 2019

Op Woensdag 20 Februarie 2019 was alle oë op die Minister van Finansies in die Parlement, waar hy sy begrotingsrede gelewer het. Gegewe die feit dat die regering en land hulself in 2019 in ’n verkiesingsjaar bevind, was minimale veranderinge verwag en was dit dan toe ook aan die orde van die dag.

Vir die eerste keer in ’n aantal jare is daar geen veranderinge aan persoonlike inkomstebelastingtabelle aangebring nie en persoonlike inkomstebelastingkoerse bly onveranderd. Nasionale Tesourie het egter marginale aanpassings aan kortings gemaak.

’n Kort opsomming van die belangrikste voorstelle vir die 2019-begroting volg:

  • ’n Verhoging van 1,1% in die primêre, sekondêre en tersiêre kortings vir individue, wat ’n klein mate van verligting vir inflasie bied. Die verandering in die korting sal die belastingvrye drempel van R78 150 tot R79 000 verhoog.
  • Die mediese belastingkrediete, wat gewoonlik aangepas word vir inflasie, bly  onveranderd en beloop R3 720 per persoon per jaar vir die eerste twee lede en R2 508 per persoon per jaar vir elke addisionele lid.
  • Rentevrystellings vir persone onder en bo 65 jaar bly onveranderd (R23 800 en R34 500 onderskeidelik).
  • Die algemene brandstofheffing sal met 29 sent per liter styg vir petrol en diesel met 30 sent per liter (effektief 3 April 2019).
  • Aksynsbelasting op tabakprodukte en alkohol sal met tussen 7,4% en 9% styg (effektief 1 Maart 2018).
  • Geen veranderinge aan korporatiewe belastingkoerse, BTW of dividendbelasting.
  • Nulkoersbelasting op witbroodmeel, koekmeel en sanitêre doekies vir BTW-doeleindes vanaf 1 April 2019.

Hierdie lys is nie volledig nie. U is welkom om ASL se elektroniese belastinggids van ons webwerf af te laai – KLIEK HIER.

Moenie huiwer om ons te kontak (tax@asl.co.za of 021 840 1600) indien u enige navrae oor die wetswysigings het of as u graag wil hê dat daar na u belastingsake gekyk word. Ons sal graag met u in gesprek wil tree om te bepaal hoe ons hierdie behoeftes kan aanspreek.