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THE POST - IOL
SA’s Covid cases breach 1.6m, close to 55 000 deaths recorded. By IOL Reporter 8h ago. In its daily Covid statistics media statement, the Health Ministry confirmed that 2 759 new cases wereTHE STAR - IOL
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MAURITIUS PREPARES TO REOPEN BORDERS, BUT SOUTH AFRICAN Mauritius is expected to reopen borders by mid-2021. However, Mauritius Tourism Promotion Authority (MTPA) said the country wasunsure when its
IOL | NEWS THAT CONNECTS SOUTH AFRICANSNEWSSPORTTECHBUSINESS REPORTENTERTAINMENTLIFESTYLE Discover the world of IOL, bringing you a mix of current news across politics, sport, business, motoring and lifestyle. Telling your stories and driving change! BREAKING NEWS FROM SA, AFRICA AND AROUND THE WORLD Top stories and news highlights from around South Africa, Africa and across the globe as they happen. Read the latest local and International news on IOL today. LATEST SOUTH AFRICAN NEWS Your comprehensive source for the latest and trending South African news, analysis and video content. Stay up-to-date with current affairs& events in SA!
THE POST - IOL
SA’s Covid cases breach 1.6m, close to 55 000 deaths recorded. By IOL Reporter 8h ago. In its daily Covid statistics media statement, the Health Ministry confirmed that 2 759 new cases wereTHE STAR - IOL
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MAURITIUS PREPARES TO REOPEN BORDERS, BUT SOUTH AFRICAN Mauritius is expected to reopen borders by mid-2021. However, Mauritius Tourism Promotion Authority (MTPA) said the country wasunsure when its
THE POST - IOL
SA’s Covid cases breach 1.6m, close to 55 000 deaths recorded. By IOL Reporter 8h ago. In its daily Covid statistics media statement, the Health Ministry confirmed that 2 759 new cases wereTHE STAR - IOL
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WORLD NEWS: LATEST INTERNATIONAL NEWS HEADLINES Read the latest International news from the US, Europe, Asia, South America, Australia and the rest of the world. Follow the top global news stories on IOL. LATEST CELEBRITY NEWS & GOSSIP Get all the latest celebrity and entertainment news, gossip, photos and videos online. Keep up to date with hot gossip and celebrity newsright here.
HAWKS ARREST ‘GHOST VENDING’ SYNDICATE 12 hours ago · Other suspects were allegedly found in possession of illegal firearms and ammunition and were additionally charged accordingly. Several cell phones, laptops, sim cards, total cashamount of R714
KZN HEALTH MEC LAUNCHES ’COVID-19 INFLUENCERS PROGRAMME As the province recorded one Covid-19 death in the past 24 hours, the KZN Health Department embarked on a national roadshow to encourage communities on the importance of getting vaccinated. MEET THE RUNNER WHO PLANS TO DO COMRADES BAREFOOT FOR THE 1 day ago · DURBAN - With the landscape of the Comrades Marathon having changed due to Covid-19, a Pietermaritzburg man is using the opportunity to bring hope to the homeless in that city in a bid tohelp
ANC QUERIES CAPE OFFICIALS RENTING GOVERNMENT HOUSES FROM The provincial Department of Human Settlements revealed in the Western Cape legislature a number of government officials lived in government properties in areas such as Plumstead, Gardens and RAMAPHOSA FACES QUESTIONS IN NCOP At the NCOP meeting, Ramaphosa is also expected to answer questions on the economic recovery plan. The latest figures from Statistics South Africa has shown that the economy grew by 4.6% annually. FLORENCE MASEBE PLEADS WITH PARLIAMENT TO PROTECT ACTORS 1 day ago · The Performers’ Protection Act of 1967 fails to protect the rights of actors in today’s environment. On Twitter, Masebe posted two clips of her submissions to Parliament to IOL | NEWS THAT CONNECTS SOUTH AFRICANSNEWSSPORTTECHBUSINESS REPORTENTERTAINMENTLIFESTYLE Discover the world of IOL, bringing you a mix of current news across politics, sport, business, motoring and lifestyle. Telling your stories and driving change!THE POST - IOL
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SA’s Covid cases climb by 3 285, inching closer to 1.7m mark. By IOL Reporter 1h ago. The Health Ministry announced that the cumulative total of tests conducted to date is 11 899 793 with 23 199CAPE ARGUS - IOL
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TSHWANE INCREASES COVID-19 VACCINATION SITES TO 14 The City of Tshwane yesterday announced an increase in the number of the Covid-19 vaccination sites for the phase 2 mass vaccinationprogramme. This
LOOK: THE SARDINES HAVE ARRIVED IN KZN "This morning there was a lot of action in Port Edward. A few shoals of sardines came through. The guys were down early and cast theirnets. Four
WEEKEND ARGUS
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ENTRIES FOR MISS SA 2021 NOW OPEN Entries open for Miss South Africa 2021 on Monday, May 24, at 17pm, and will close on June 24, at midnight. Stephanie Weil of the Miss South Africa Organisation says: “We are KZN, HERE ARE YOUR COVID-19 VACCINATION SITES Uthukela DM - Ladysmith Hospital. eThekwini MM - Netcare St Augustine's Hospital. Meanwhile, vaccine registration, for persons 60 and over, officially opened last month. IOL | NEWS THAT CONNECTS SOUTH AFRICANSNEWSSPORTTECHBUSINESS REPORTENTERTAINMENTLIFESTYLE Discover the world of IOL, bringing you a mix of current news across politics, sport, business, motoring and lifestyle. Telling your stories and driving change!THE POST - IOL
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IOL | PRETORIA NEWS
SA’s Covid cases climb by 3 285, inching closer to 1.7m mark. By IOL Reporter 1h ago. The Health Ministry announced that the cumulative total of tests conducted to date is 11 899 793 with 23 199CAPE ARGUS - IOL
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CAPE TIMES - IOL
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TSHWANE INCREASES COVID-19 VACCINATION SITES TO 14 The City of Tshwane yesterday announced an increase in the number of the Covid-19 vaccination sites for the phase 2 mass vaccinationprogramme. This
LOOK: THE SARDINES HAVE ARRIVED IN KZN "This morning there was a lot of action in Port Edward. A few shoals of sardines came through. The guys were down early and cast theirnets. Four
WEEKEND ARGUS
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ENTRIES FOR MISS SA 2021 NOW OPEN Entries open for Miss South Africa 2021 on Monday, May 24, at 17pm, and will close on June 24, at midnight. Stephanie Weil of the Miss South Africa Organisation says: “We are KZN, HERE ARE YOUR COVID-19 VACCINATION SITES Uthukela DM - Ladysmith Hospital. eThekwini MM - Netcare St Augustine's Hospital. Meanwhile, vaccine registration, for persons 60 and over, officially opened last month. BREAKING NEWS FROM SA, AFRICA AND AROUND THE WORLD Top stories and news highlights from around South Africa, Africa and across the globe as they happen. Read the latest local and International news on IOL today.THE STAR - IOL
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CRIME AND COURTS
Atlantis father and son, alleged to have sexually abused sisters, granted bail. By Robin-Lee Francke 16h ago RAMAPHOSA FACES QUESTIONS IN NCOP At the NCOP meeting, Ramaphosa is also expected to answer questions on the economic recovery plan. The latest figures from Statistics South Africa has shown that the economy grew by 4.6% annually. MEET THE RUNNER WHO PLANS TO DO COMRADES BAREFOOT FOR THE 4 hours ago · DURBAN - With the landscape of the Comrades Marathon having changed due to Covid-19, a Pietermaritzburg man is using the opportunity to bring hope to COASTLANDS HOTELIER SAANTHA NAIDU’S WIFE DIES AT AGE 66 Durban: Saras Naidu, the wife of Durban property mogul and Coastlands hotelier Saantha Naidu, has died at the age of 66 after a 11-year battle with cancer. Naidu passed on in the presence of close KZN HEALTH MEC LAUNCHES ’COVID-19 INFLUENCERS PROGRAMME As the province recorded one Covid-19 death in the past 24 hours, the KZN Health Department embarked on a national roadshow to encourage communities on the importance of getting vaccinated. POWER OUTAGES LEAVE PIETERMARITZBURG ELDERLY IN THE DARK 1 day ago · An old age home in the Pietermaritzburg CBD is among the places hard hit by power outages and have not had power for the pastfive days.
PREMIER SIHLE ZIKALALA’S COMMUNICATIONS ADMINISTRATOR KWAZULU-NATAL Premier Sihle Zikalala said the brutal murder of a member of his staff was one of the most gruesome acts of gender-based violence committed in the province recently. Hlengiwe Madlala LOOK: ANELE MDODA LIVES HER BEST 5-STAR LIFE AT PHINDA TV personality Anele Mdoda enjoyed a luxurious bush break at one of KwaZulu-Natal’s most exclusive game reserves, Phinda Game Reserve. And we must say we are having major FOMO. The SA IOL | NEWS THAT CONNECTS SOUTH AFRICANSNEWSSPORTTECHBUSINESS REPORTENTERTAINMENTLIFESTYLE Discover the world of IOL, bringing you a mix of current news across politics, sport, business, motoring and lifestyle. Telling your stories and driving change!THE POST - IOL
SA’s Covid cases breach 1.6m, close to 55 000 deaths recorded. By IOL Reporter 8h ago. In its daily Covid statistics media statement, the Health Ministry confirmed that 2 759 new cases wereIOL | PRETORIA NEWS
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LIVE FEED: STATE CAPTURE INQUIRY, MAY 28, 2021 LIVE FEED: State Capture Inquiry, May 28, 2021. Johannesburg - The Commission of Inquiry into Allegations of State Capture will continue to hear Transnet related evidence from its former chief 'BINNELANDERS' ACTOR BEN KRUGER DIES South African actor, author and producer Ben Kruger has died at age 64. Kruger, who was best known for his role as Oom Okkie in the kykNET’s award-winning soapie “Binnelanders”, died at his ENTRIES FOR MISS SA 2021 NOW OPEN Entries open for Miss South Africa 2021 on Monday, May 24, at 17pm, and will close on June 24, at midnight. Stephanie Weil of the Miss South Africa Organisation says: “We are KZN, HERE ARE YOUR COVID-19 VACCINATION SITES Currently, 339 655 healthcare workers have been vaccinated. This morning, Health Minister Dr Zweli Mkhize announced the locations of the active sites across the country, with nine sites set up in IOL | NEWS THAT CONNECTS SOUTH AFRICANSNEWSSPORTTECHBUSINESS REPORTENTERTAINMENTLIFESTYLE Discover the world of IOL, bringing you a mix of current news across politics, sport, business, motoring and lifestyle. Telling your stories and driving change!THE POST - IOL
SA’s Covid cases breach 1.6m, close to 55 000 deaths recorded. By IOL Reporter 8h ago. In its daily Covid statistics media statement, the Health Ministry confirmed that 2 759 new cases wereIOL | PRETORIA NEWS
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LIVE FEED: STATE CAPTURE INQUIRY, MAY 28, 2021 LIVE FEED: State Capture Inquiry, May 28, 2021. Johannesburg - The Commission of Inquiry into Allegations of State Capture will continue to hear Transnet related evidence from its former chief 'BINNELANDERS' ACTOR BEN KRUGER DIES South African actor, author and producer Ben Kruger has died at age 64. Kruger, who was best known for his role as Oom Okkie in the kykNET’s award-winning soapie “Binnelanders”, died at his ENTRIES FOR MISS SA 2021 NOW OPEN Entries open for Miss South Africa 2021 on Monday, May 24, at 17pm, and will close on June 24, at midnight. Stephanie Weil of the Miss South Africa Organisation says: “We are KZN, HERE ARE YOUR COVID-19 VACCINATION SITES Currently, 339 655 healthcare workers have been vaccinated. This morning, Health Minister Dr Zweli Mkhize announced the locations of the active sites across the country, with nine sites set up in BREAKING NEWS FROM SA, AFRICA AND AROUND THE WORLD Top stories and news highlights from around South Africa, Africa and across the globe as they happen. Read the latest local and International news on IOL today.THE STAR - IOL
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LATEST CELEBRITY NEWS & GOSSIP Get all the latest celebrity and entertainment news, gossip, photos and videos online. Keep up to date with hot gossip and celebrity newsright here.
CRIME AND COURTS
Crime and courts. weekend-argus. Mother of missing Shevonne Matthews says she became homeless 19 years ago due to a broken heart. By Genevieve Serra 1h ago. Western Cape. Mom forced to switch off ZAHARA FINED FOR SKIPPING COURT APPEARANCE 7 hours ago · The Johannesburg Commercial Crimes Court has found popular singer and songwriter Bulelwa Mkutukana, known as Zahara, guilty of failing to appear in the Palm Ridge Specialised CommercialCrimes Court.
KZN HEALTH MEC LAUNCHES ’COVID-19 INFLUENCERS PROGRAMME As the province recorded one Covid-19 death in the past 24 hours, the KZN Health Department embarked on a national roadshow to encourage communities on the importance of getting vaccinated. POWER OUTAGES LEAVE PIETERMARITZBURG ELDERLY IN THE DARK 16 hours ago · An old age home in the Pietermaritzburg CBD is among the places hard hit by power outages and have not had power for thepast five days.
MURDER OF FIVE TAXI OPERATORS SHOT DEAD IN CERES CONDEMNED 14 hours ago · Cape Town - Police are investigating a shooting at a taxi rank in Ceres which left five taxi operators dead. Police spokesperson Novela Potelwa said detectives from the provincial taxitask team
PREMIER SIHLE ZIKALALA’S COMMUNICATIONS ADMINISTRATOR KWAZULU-NATAL Premier Sihle Zikalala said the brutal murder of a member of his staff was one of the most gruesome acts of gender-based violence committed in ASTON MARTIN VINDICATED BY SEBASTIAN VETTEL SIGNING, SAYS 1 day ago · Sebastian Vettel looks like a man reborn at Aston Martin and the decision to sign him appears to be paying off, Formula One's managing director for motorsport Ross Brawn said. IOL | NEWS THAT CONNECTS SOUTH AFRICANSNEWSSPORTTECHBUSINESS REPORTENTERTAINMENTLIFESTYLE Discover the world of IOL, bringing you a mix of current news across politics, sport, business, motoring and lifestyle. Telling your stories and driving change! BREAKING NEWS FROM SA, AFRICA AND AROUND THE WORLD Top stories and news highlights from around South Africa, Africa and across the globe as they happen. Read the latest local and International news on IOL today.DAILY NEWS - IOL
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LATEST SOUTH AFRICAN NEWS Your comprehensive source for the latest and trending South African news, analysis and video content. Stay up-to-date with current affairs& events in SA!
THE POST - IOL
SA’s Covid cases breach 1.6m, close to 55 000 deaths recorded. By IOL Reporter 8h ago. In its daily Covid statistics media statement, the Health Ministry confirmed that 2 759 new cases wereIOL | PRETORIA NEWS
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IOL | NEWS THAT CONNECTS SOUTH AFRICANSNEWSSPORTTECHBUSINESS REPORTENTERTAINMENTLIFESTYLE Discover the world of IOL, bringing you a mix of current news across politics, sport, business, motoring and lifestyle. Telling your stories and driving change! BREAKING NEWS FROM SA, AFRICA AND AROUND THE WORLD Top stories and news highlights from around South Africa, Africa and across the globe as they happen. Read the latest local and International news on IOL today.DAILY NEWS - IOL
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LATEST SOUTH AFRICAN NEWS Your comprehensive source for the latest and trending South African news, analysis and video content. Stay up-to-date with current affairs& events in SA!
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SA’s Covid cases breach 1.6m, close to 55 000 deaths recorded. By IOL Reporter 8h ago. In its daily Covid statistics media statement, the Health Ministry confirmed that 2 759 new cases wereIOL | PRETORIA NEWS
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THE MERCURY
No running water for 425 000 homes in KZN, report finds. 8h ago. About 425 000 families remain without clean running water across KwaZulu-Natal, according to recent findings by the Co-operative IOL | SUNDAY TRIBUNE More than 2 million elderly people have registered for Covid-19 vaccine. By Rudolph Nkgadima Jun 4, 2021. About half a million of them are in Gauteng, followed byIOL ENTERTAINMENT
South Africa`s premier source for the latest in entertainment, showbiz & celebrity news. Check out the hottest entertainment news today! LATEST CELEBRITY NEWS & GOSSIP Get all the latest celebrity and entertainment news, gossip, photos and videos online. Keep up to date with hot gossip and celebrity newsright here.
KZN HEALTH MEC LAUNCHES ’COVID-19 INFLUENCERS PROGRAMME As the province recorded one Covid-19 death in the past 24 hours, the KZN Health Department embarked on a national roadshow to encourage communities on the importance of getting vaccinated. WHO WILL PROTECT THE VULNERABLE AND POOR LIKE MS NKASAYI? 10 hours ago · In response to the letter by EFF provincial chairperson Melikhaya Xego, police said police spokesperson Novela Potelwa told the Cape Times: “The office of the provincialcommissioner is in
CONTRACTOR SHAKEN AFTER RACIAL SLURS, GUN POINTED AT HIM 12 hours ago · DURBAN - WHAT was supposed to be a routine job in Hillcrest turned into a nightmare for a contractor, who had a gun pointed at him by an angry ASTON MARTIN VINDICATED BY SEBASTIAN VETTEL SIGNING, SAYS 19 hours ago · Sebastian Vettel looks like a man reborn at Aston Martin and the decision to sign him appears to be paying off, Formula One's managing director for motorsport Ross Brawn said. A BANK ACCOUNT PROVIDES VALUABLE MONEY LESSONS FOR YOUR CHILD 19 hours ago · One way to start that conversation is by opening a bank account with your child. Four of the big five banks have products geared to children: MegaU at Absa, for under 20s; FNBy for under 18s* Shop @ Loot
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Newsletter Subscribe Business Report BudgetMinister of
Finance Tito Mboweni delivers his budget speech to Parliament. Photo: Phando Jikelo/African News Agency (ANA) BUDGET SPEECH 2020 AIMS TO WIN BACK INVESTOR CONFIDENCE By Bernard Sacks Feb 26, 2020Share this article:
ShareTweetShareShareShareEmail DURBAN – Minister Tito Mboweni walked the tightrope in delivering his Budget Speech 26 February 2020. In an effort to preserve the last remaining investment grade status he had to demonstrate to the ratings agencies that South Africa was applying appropriate measures of fiscal discipline in cutting expenditure and limiting the amounts allocated to underperforming SOEs, whilst not overburdening South Africans with taxes. Personal income taxpayers received a measure of welcome relief when the Minister announced that the personal income tax brackets and the rebates (primary secondary and tertiary) would increase by 5.2 percent for the 2020/21 tax year. The bulk of this relief accrues to taxpayers earning up to R750 000. Although there had been much speculation ahead of the Budget, no VAT increase materialised. This is welcomed, given the need to stimulate the economy and promote growth. Whilst the SA corporate tax rate remains unchanged at 28 percent, the Budget Review acknowledged that South Africa’s relative competitiveness internationally has lagged over the last several years due to rates in other countries such as UK, India and USA falling. Accordingly, in an effort to promote economic growth, government intends, over the medium term, to restructure the corporate income tax system by broadening the base and reducing the rate. The base broadening proposals will involve minimising tax incentives, and introducing new interest deduction and assessed losslimitations.
THE INTENTION IS TO IMPLEMENT RATE REDUCTIONS IN A REVENUE-NEUTRALMANNER:
* Effective years of assessment commencing on or after 1 January 2021, the offset of assessed losses carried forward will be limited to 80 percent of taxable income. * Government proposes to restrict net interest expense deductions to 30 percent of earnings for years of assessment commencing on or after1 January 2021.
The benefit of tax incentives is under discussion. Sunset clauses for a number of incentives are to be introduced, while others will beunder review.
Exchange controls are to undergo further reforms. Over the next 12 months, a new capital flow management system will be put in place. All foreign-currency transactions will be allowed, except for a risk-based list of capital flow measures. This change will increase transparency, reduce burdensome and unnecessary administrative approvals, and promote certainty. The capital flow measures take account of the Organisation for Economic Co-operation and Development best-practice Code of Liberalisation of Capital Movements and are aligned with similar approaches in other developing countries. The annual limit for contributions to tax-free savings account will be increased to R36 000 – a measure intended to increase savings. In an effort to help fund the rollout of national health insurance, the increases in medical tax credits continue to be implemented below the rate of inflation. SOME OF THE INDIRECT TAX CHANGES INCLUDE: * Increasing the fuel levy by 25c/litre, consisting of a 16c/litre increase in the general fuel levy and a 9c/litre increase in the RAFlevy
* Increasing excise duties on alcohol and tobacco by between 4.4 and7.5 percent.
* Heated tobacco products will be subject to excise duties withimmediate effect
* Government intends to tax electronic cigarettes in 2021. _Bernard Sacks is a Tax Partner at Mazars. _ BUSINESS REPORT ONLINE Free Market Economy TitoMboweni Tax
GDP
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