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LIVE: Mboweni says budget reduces tax burden on lower- and middle-income households


24 February 20:24
Despite speculation that South Africa may be facing a new wealth tax, Finance Minister Tito Mboweni announced no new major taxes when he tabled the 2021 Budget in Parliament on Wednesday afternoon.
Proposed tax increases over the medium term have also been done away with, while SA s tax revenue shortfall was lower than expected.
There was a measure of tax relief for lower and middle-income households, as well as a decrease in the corporate tax rate from 28 to 27%.
Mobweni also announced an additional R3 billion to aid SARS’ crime-busting efforts.
The budget includes almost R20 billion in funds for the  purchase and delivery of vaccines over the medium term. Unlike previous years, Eskom and SAA were not front and centre on Wednesday. ....

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FULL SPEECH: Tito Mboweni's 2021 Budget


FULL SPEECH: Tito Mboweni’s 2021 Budget
Finance Minister Tito Mboweni delivered his 2021 Budget Speech amid an economy ravaged by COVID-19 and the associated lockdowns.
Finance Minister Tito Mboweni delivers his Budget speech in Parliament on 24 February 2021. Picture: GCIS.
Today I table before this House:
2021 Appropriation Bill
The Budget Review
Madam Speaker last year we outlined a strategy to becoming a winning country.
Since then, we have mourned the passing of nearly 50 000 of our fellow South Africans as a result of the Covid-19 pandemic. The damage caused by Covid-19 runs deep and we share in the collective pain of many South Africans who have lost their jobs. ....

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