Live blog: Budget 2016

15:18

We can build on the strengths and do things differently through innovation

15:17

The needs of the young are not the same as those of the old, we need to bridge the divides.

15:16

A new course for the economy to be chartered.

15:16

Public transport improvements in different corridors across the country.

15:14

R6 billion dedicated to improve commuters travelling

15:10

Grants- Child grants to R350 by April

15:08

Grants- Old Age will rise by R80 to R1500 in April, R1510 by October.

15:07

By 2018, 510 unsafe schools will be rebuilt

15:06

Higher Education R16.3 billion allocated- R5.7million  to address shortfall for zero increase.

14:58

We do not need to be invested in four airlines, there is the possibility of merging SAA and SA Express.

14:58

State-owned entities must be effectively governed and those that are no longer necessary should be phased out.

14:52

Tax dodgers will be dealt with.

14:50

14:50

The transfer duty rate on properties above R10 million will increase from 11 per cent to 13 per cent, and measures are proposed to strengthen the estate duty and donations tax.

14:48

Higher capital gains inclusion rates are proposed, together with an increase in the annual amount

above which capital gains become taxable.

14:48

Increases of between 6 and 8.5 per cent in the duties on alcoholic beverages and tobacco products

14:47

Introduction of a tax on sugar-sweetened beverages;

14:47

Introduction of a tyre levy to finance recycling programmes, increases in the incandescent globe tax, the plastic bag levy and the motor vehicle emissions tax

14:47

An increase in the monthly medical tax credit allowances

14:46

There will be personal income tax relief of R5.5 billion, focused mainly on lower- and middle-income earners

14:44

Public compliance with tax obligations is high

14:43

Spending limits will be imposed, including freezing admin jobs and travel and car guidelines.

The Chief Procurement Officer will save R25bn a year by year three.

Advertisements