Finance minister, Pravin Gordhan (pictured below), delivered the annual budget speech at the Parliamentary buildings in Cape Town earlier today. If you missed it, here are a few highlights:
Sin tax
Sin tax
- Bottle of 750ml wine - 13c
- Bottle of 750ml spirits - R4.76
- 340ml can of beer - 9c
- Ciders & alcoholic fruit drinks - 9c
- Cigarettes (box of 20) - 68c
Fuel and environmental levies
- Fuel levy - 12c/l
- Road Accident Fund levy - 8c/l
Social grants
- Elderly and disabled persons - R1 350 p/m
- Foster care - R830 p/m
- Child support - R315 p/m
Retirement policies
The tax free lump sum threshold has been raised from R315 000 to R500 000.
Rebates for individual taxpayers
Primary rebate (all taxpayers) - R12 726
Secondary rebate (aged 65 - 74 years) - R7 110
Tertiary rebate (aged 75 years and above) - R2 367.
Follow this link for more information http://www.fin24.com/Budget/Infographics/Budget-infographic-20140225
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