Tax Tuesday: Budget speech summary

De Wet De Villiers Latest, Tax Tuesday

Minister Tito Mboweni delivered his annual budget speech on 24 February 2021. In the year following the outbreak of the Covid-19 pandemic, many expected the individual tax burden to increase to make up for increased government spending and lower year-on-year tax collections. However, in an effort to stimulate spending, government increased tax brackets above inflation ...

Tax Tuesday: Tax on total return ETFs

De Wet De Villiers Latest, Tax Tuesday

PART I: TAX BASICS When a South African company declares dividends to a South African shareholder, the dividends are generally exempt from income tax. Instead, the dividends are subject dividends tax. Dividends Tax is a withholding tax (meaning it’s paid directly to SARS on the investor’s behalf) and is levied at 20% of dividends received. ...