#2020BudgetSpeech: Randfonteiners had this to say …
Randfonteiners had this to say about sin taxes among others after Finance Minister Tito Mboweni delivered his 2020 Budget Speech.
Finance Minister Tito Mboweni delivered his 2020 Budget Speech on Wednesday, 26 February and with it came the good and bad news for South Africans.
In a nutshell, Mboweni said to support growth, they propose no major tax increases. Indeed, there is some real personal income tax relief.
“This Budget means that a teacher who earns on average R460 000 a year, will see their taxes reduced by nearly R3 400 a year. Hard-working tax payers, who earn on average R265 000 a year, will see their income tax reduced by over R1 500 a year. Our income tax system is progressive, and the adjustments reflect this. Someone earning R10 000 a month will pay 10 per cent less in tax. Someone earning R100 000 a month will pay about 1.5 per cent less.”
Regarding sin tax, Mboweni said, “We have increased excise duties to keep pace with inflation.”
He said from today (26 February) …
• A 340ml can of beer or cider will cost only an extra 8c
• A 750ml bottle of wine will cost an extra 14c
• A 750ml bottle of sparkling wine an extra 61c
• A bottle of 750 ml spirits, including whisky, gin or vodka, will rise by R2.89
• A packet of 20 cigarettes will be an extra 74c
• A 25 gram of piped tobacco will cost 40c more
• A 23 gram cigar will cost an extra R6.73
The Herald, once again took to the streets to find what Randfonteiners had to say about sin taxes among others.
