While delivering the annual budget speech, Finance Minister Tito Mboweni announced that there will be an increase in the personal income tax brackets and rebates.
In an effort to ease the burden of inflation on individual households, the personal income tax brackets and rebates will increase by 5%.
You can expect to pay more for alcohol and tobacco, as government has decided to increase the excise duties on these products.
On Wednesday, Finance Minister Tito Mboweni announced that the excise duties on these products will increase by 8%.
Finance Minister, Tito Mboweni announced that the gross tax revenue will be lower this year compared to what was projected in the 2020 budget.
South Africa's unemployment rate has increased by 1.7% from the third quarter of 2020.
StatsSA released the Labour Force Survey in the fourth quarter, which showed that the number of unemployed persons increased by 701 000.
This brought the total to 7.2 million, compared to quarter 3 in 2020.
It’s evident by the significant investments into skills development and educational programmes that Microsoft believes in upskilling our youth to have the right skills to succeed in the Fourth Industrial Revolution.
We are a specialist training service provider to the mining sector.