Budget Speech Infographic 2017 - PSG

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Tax Free Savings. Education. BUDGET SPEECH 2017. What you need to know. 750ml unfortified wine ... R7.4bn vocational edu
BUDGET SPEECH 2017 What you need to know Revenue & Expenditure

Personal Income Tax

Projected revenue up by

0.4%

R1.414

Marginal rate of 45% for individuals earning R1.5m and above

R1.563

3.1% Deficit

TRILLION

4%

0.2%

Projected expenditure up by

TRILLION

Capital Gains Tax R482.1bn

Personal income tax

R241.6bn

Economic affairs & agriculture

R312.8bn

VAT

R198.7bn

Defense & public safety

R218.7bn

Corporate income tax

R96.1bn

Customs & excise duties tax

R70.9bn

Fuel levies

R84.9bn

Other

Old Age & Disability Grants

R70.7bn R162.4bn

Social services

5%

No change

30c

750ml bottle of spirits

R4.43

340ml can of beer

11.9c

R1.06

Box of 20 cigarettes

22.4%

Companies

0%

36%

Other trusts

3.2%

30c

9c

per litre

Estate Duties

per litre

20%

Properties up to R900 000 exempt from transfer duties. Up from R750 000 in 2016

Unchanged

Tax Trusts

Social Services

R884

BILLION

56% of expenditure allocated to social services

Education

R320.5

R900k

11.9c

340ml ciders & alcoholic fruit drinks

1.6%

Set at 20%, up from 15%

Transfer Duty

750ml unfortified wine

Individuals & special trusts

Fuel & Road Accident Fund Levy

Dividends Tax

14%

Sin Tax

Debt-service costs

R884bn

VAT

R90

General admin

18%

Tax rate of trusts increases to

45%

BILLION Basic education University subsidies Skills development levy institutions Education admin NSFAS Technical and vocational education and training

R216.7bn R31.6bn R21.1bn R15.8bn R15.3bn R7.4bn

Tax Free Savings

Health

R187.5 BILLION

District health services

R83.6bn

Other health services

R25.8bn

Central hospital services

R35.9bn

Facilities management

R9.9bn

Provincial hospital

R32.3bn

and maintenance

services

Defense & Public Safety

R198.7

BILLION

Economic Affairs & Agriculture

R241.6

BILLION

Affiliates of the PSG Konsult Group are authorised financial services providers Information sourced from http://www.treasury.gov.za/

Company Tax

NO CHANGE

R33 000 p.a. Annual contribution limit increased from R30 000

Medical Tax Credit

Medical scheme tax credit might be reduced or even removed in future due to NHI