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Budget 2020: The big surprise was two billion rand in tax relief

26 February 2020 7:25 PM
Tags:
finance minister tito mboweni
2020 Budget Speech
2020budget
Individual tax payers are actually better off as a result of Budget 2020.

Nobody was expecting tax relief for individuals, good news for most of us.

There is also slight relief on transfer duty on properties.

The Money Show interviewed Lesedi Seforo, tax director - JDK & Partners

Without high income earners you do not have a tax base. Government really has to walk a tight rope between incentivising people to remain in the country and overtaxing those people because they are the most mobile. Everybody is competing for their skills, all these different countries are competing for them. And already they are paying a lot of tax - so you don't want to scare them away by overburdening them with taxes.

Lesedi Seforo, tax director - JDK & Partners

One of the firms we work with is reporting record numbers of South Africans leaving the country. Some of the guys who come see us at our firm really love the country and are leaving with a heavy heart. They say it is not so much that I mind paying high taxes - but what am I getting for it? Some countries have more enticing benefits for your money.

Lesedi Seforo, tax director - JDK & Partners

Listen to the full sound clip below.

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This article first appeared on 702 : Budget 2020: The big surprise was two billion rand in tax relief


26 February 2020 7:25 PM
Tags:
finance minister tito mboweni
2020 Budget Speech
2020budget

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