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
