News 22.2.2018 05:00 am

VAT hike biggest shock in budget

Customs duties, fuel levies and sin taxes also go up, while people who earn more than R410 461 will pay more tax.

Finance Minister Malusi Gigaba will rely heavily on the goodwill and optimism created by President Cyril Ramaphosa to absorb any shock at the 2018-19 budget he presented in parliament yesterday.

VAT hike biggest shock in budget
VAT hike biggest shock in budget

VAT hike biggest shock in budget

Customs duties, fuel levies and sin taxes also go up, while people who earn more than R410 461 will pay more tax.

ANC welcomes budget for ‘the people’
News

ANC welcomes budget for ‘the people’

It says the increase in VAT, which has drawn the ire of some opposition parties and unions, would be offset by instruments in place to protect the poor.
250 students in Eastern Cape hospitalised for food poisoning
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250 students in Eastern Cape hospitalised for food poisoning

The students presented symptoms which included stomach cramps, vomiting and headaches, and they are treated as a mass casualty.
Missing Eastern Cape police dog Olive found unharmed
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Missing Eastern Cape police dog Olive found unharmed

Olive was spotted underneath a low cliff by members of a police and K9 search party, who managed to free her.
Killers drank Marikana man’s blood, court hears
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Killers drank Marikana man’s blood, court hears

They dipped their fingers in his blood, some scooped it with their hand and drank it, a witness told the North West High Court.
Late-running trains attacked in Pretoria
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Late-running trains attacked in Pretoria

Two drivers were attacked by commuters and windows shattered as boulders blocked the rails.
BCCSA rules in SABC’s favour on ‘Black Monday’ coverage
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BCCSA rules in SABC’s favour on ‘Black Monday’ coverage

The BCCSA ruled that the visuals were contextualised and Ferreira’s complaint of strong language was subjective.
WATCH: ANC MP pays tribute to Ramaphosa in ‘broken’ Venda
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WATCH: ANC MP pays tribute to Ramaphosa in ‘broken’ Venda

The ANC MP made an effort to speak to the president in Venda, but her pronunciation has drawn much amusement on social media.
VAT hike angers opposition parties, unions
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VAT hike angers opposition parties, unions

Unions say some positives in the budget were overshadowed by poor South Africans paying for the damage done during Zuma’s tenure.
Police union calls for urgent national summit on cop killings
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Police union calls for urgent national summit on cop killings

It is clear that criminals have no respect for human life, let alone the government, Sapu says, and the police minister has to act with speed.
Mining industry welcomes budget’s tone and commitments
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Mining industry welcomes budget’s tone and commitments

Ramaphosa’s intervention to restore dialogue on mining policy raised hope that a solution would be found to unlock growth and transformation.
READ IN FULL: Minister of Finance Malusi Gigaba’s 2018 Budget Speech
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READ IN FULL: Minister of Finance Malusi Gigaba’s 2018 Budget Speech

This is the challenge of our time, to build a South Africa in which all people have a decent standard of living, access to economic opportunities and opportunity to pursue their dreams.
Why Cyril rewrites narrative of him and Zuma as enemies
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Why Cyril rewrites narrative of him and Zuma as enemies

The country has seen rapid political changes since Ramaphosa’s election as the governing party’s president in December.
No government can tax itself to prosperity: Maimane
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No government can tax itself to prosperity: Maimane

Increases in fuel and in basic food prices will affect the poor most as a consequence of poor management over the last 9 years, the opposition leader says.
Here are some of the Guptas’ flashy assets that could be seized and sold
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Here are some of the Guptas’ flashy assets that could be seized and sold

Outa says the family loved their flashy playthings, but their cars were registered to pay e-tolls.
Gigaba responds to being found guilty of lying under oath
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Gigaba responds to being found guilty of lying under oath

Scathing findings by a full bench of the high court against the minister are now being reviewed by his lawyers.
HIGHLIGHTS: Budget speech 2018
South Africa

HIGHLIGHTS: Budget speech 2018

Finance Minister Malusi Gigaba on Wednesday afternoon delivered the annual budget speech in the National Assembly.
Everything you must know about Gigaba’s R57bn free tertiary education plan
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Everything you must know about Gigaba’s R57bn free tertiary education plan

Minister of Finance Malusi Gigaba says fee-free education is a step towards addressing youth unemployment.
Gigaba says no to nuclear for SA right now
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Gigaba says no to nuclear for SA right now

Gigaba was referring to remarks made by then-Deputy President Cyril Ramaphosa at the World Economic Forum last month.
One-percent VAT increase not aimed at punishing the poor – Gigaba
Business News

One-percent VAT increase not aimed at punishing the poor – Gigaba

VAT has the least effect on the poor compared to other tax hikes the National Treasury could have introduced, says Gigaba.
Gigaba warns on public sector wage bill
South Africa

Gigaba warns on public sector wage bill

Public sector wage talks started last year and were still ongoing at the time of the budget.
57bn for free higher education over next 3 years
South Africa

57bn for free higher education over next 3 years

According to the budget, allocations to NSFAS are set to increase at an average annual rate of 51.6 percent, rising from R10.1bN in the last financial year to R35.3bn in 2020/21.
Fire destroys children’s home in Durban
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Fire destroys children’s home in Durban

The fire department worked to extinguish the blaze which took close on two hours, with multiple fire tenders on the scene.
A look at ‘sin’ tax through the years
South Africa

A look at ‘sin’ tax through the years

Today’s budget speech will provide clarity on many financial issues, but sin tax looms and adds to the burden.
Cosatu calls for action against Eastern Cape cop killers
South Africa

Cosatu calls for action against Eastern Cape cop killers

This comes after five police officers and a retired soldier were shot and killed while two others were wounded by a gang of robbers in Ngcobo near Queenstown during the early hours of Wednesday.
Gauteng high school pupil found with more than R40k in fake notes
South Africa

Gauteng high school pupil found with more than R40k in fake notes

A preliminary investigation showed that someone in the family was responsible for the fake bank notes.


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