The Minister of Finance, Pravin Gordhan, delivered his budget speech on 27 February 2013 and, other than expected, tax rates were (fortunately) not increased. On the face of it the tax proposals should not have a substantial impact on our clients but, as has often happened in the past, there will probably be law amendments later which will have an effect on the taxpayer.
We are not at present going to provide detailed commentary on the tax proposals but will, as and when more certainty about these proposals is gained in the course of the year, communicate with our clients about aspects thereof that may have an influence on their tax affairs.
The following link can be used to peruse the tax tables for the 2013/2014 tax year and also to read more about the tax proposals.
Should you be uncertain about the effect of the budget proposals on your tax liability, you are welcome to get in touch with your relationship director.