Finance Minister Tito Mboweni cuts the budget to R2 trillion, increases some social grants and nails sin taxes on booze, alcohol and fuel.
Funding for the rollout of the vaccine will come from the national budget, with additional funding to be drawn from the Covid-19 components of the HIV, tuberculosis, malaria and community outreach grants introduced last year.
The R350 social relief grant and the Temporary Employer/Employee Scheme (Ters) fund are set to continue for the next three months.
The country’s boozers should expect to pay R5.50 more for a bottle of whiskey while smokers will fork out an extra R1.39 for a pack of cigarettes as excise duties on alcohol and tobacco spike by 8%.
Over half of the projected spending will be allocated to social services such as culture, health and social development over the medium term.
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Want to buy Bitcoin? Rand cost averaging a favoured method as cryptos grow
Gains are so dizzying many feel they’ve missed boat – but there had been surges like these before.
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Expenses claimable, but home office does not rule tax-wise

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Expert says current regulations are outdated and no longer relevant in a changed workplace.

Business News Jobs bloodbath unrelenting: Unemployment rate now highest since 2008

When the job statistics for the third quarter of 2020 were announced, the feeling was that South Africa had reached the peak of unemployment. Sadly, the statistics for the fourth quarter are even worse.

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R200m Covid-19 loan scheme ‘largely dead’ – Intellidex

Business News R200m Covid-19 loan scheme ‘largely dead’ – Intellidex

Scheme role needs to be ‘reconciled with broader objectives’ of the Economic Reconstruction and Recovery Plan.

Business News Shareholders fight Steinhoff over proposed settlement

The Steinhoff group is being accused of favouring contractual claimants like Christo Wiese.

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Corporate excess profits tax a good idea

Business News Corporate excess profits tax a good idea

Tax would be easier to administer and apply as the audited figures would be readily available.

Business News Durban CBD no longer attractive to businesses, says economist

Dumisa, who also has an office in the CBD, said the city should focus on enforcing its by-aws if it has any hope of attracting back premium renters.

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New financial emigration law will ‘deplete tax base’ – expert

Business News New financial emigration law will ‘deplete tax base’ – expert

Amendment a way to keep pensioners’ savings in the country and is against the spirit of removing exchange control – Prof Jannie Rossouw

Business News Local cane growers renew call for Mboweni to lower sugar tax 

SA Canegrowers said sugar tax directly resulted in at least 9,000 job losses in the cane growing sector alone. 

Business News Battle lines drawn as Rebosis saga drags on 

Zunaid Moti’s voting rights were granted for the upcoming Rebosis AGM, in which he is owed R125 million by CEO Sisa Ngebulana’s Amatolo Family Trust.

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Outgoing Gold Fields CEO regrets employees’ deaths

Business News Outgoing Gold Fields CEO regrets employees’ deaths

Over 120 employees have passed away in the line of duty at Gold Fields.

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Naspers still too big for JSE pond

Business News Naspers still too big for JSE pond

The separate listing of Prosus in Amsterdam did little to unlock the not-so-hidden value.

Business News Agri SA warns of job losses in wake of new minimum wage

Less work will have a high price for workers, as the level of poverty, hopelessness and social decay will increase due to large scale unemployment, says Christo van der Rheede, CEO of Agri SA.

Business News Liduidators sue Highveld Syndication BRP and Nova chair for R110m

Klopper and Myburgh are closely involved with the rescue schemes of two of South Africa’s biggest failed investment schemes: Sharemax and Picvest.

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PIC Amendment Act signed into law

Business News PIC Amendment Act signed into law

The Act aims to strengthen accountability and transparency at the fund manager.




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