{"id":8470,"date":"2020-02-26T16:05:14","date_gmt":"2020-02-26T14:05:14","guid":{"rendered":"https:\/\/stbb.co.za\/dev2\/?p=8470"},"modified":"2020-03-03T10:23:56","modified_gmt":"2020-03-03T08:23:56","slug":"newsflash-2020-budget-news","status":"publish","type":"post","link":"https:\/\/stbb.co.za\/dev2\/newsflash-2020-budget-news\/","title":{"rendered":"Newsflash | 2020 Budget News"},"content":{"rendered":"

Lees in Afrikaans<\/span><\/a>\u00a0\u00a0 \u00a0|\u00a0 \u00a0\u00a0Inguqulelo ngesiXhosa<\/span><\/a><\/h4>\n

Minister of Finance, Mr Tito Mboweni, delivered the National Treasury\u2019s budget for 2020\/2021 this afternoon. The following amendments stand out:<\/p>\n

    \n
  • Above inflation adjustment to personal income tax brackets. (This was not done last year<\/em>)<\/li>\n
  • Transfer Duty exemption increased to R1 million.<\/li>\n
  • Inflationary adjustment to transfer duty rates.<\/li>\n
  • Allowable increase to tax free savings increased from R33,000 to R36,000.<\/li>\n
  • Sunset clauses in respect of certain corporate incentives.<\/li>\n
  • Limitation placed on use of assessed losses.<\/li>\n
  • General fuel levy increases by 16 cents per litre on 1 April 2020.<\/li>\n
  • Increased excise duties on tobacco and alcohol.<\/li>\n
  • Plastic bag levy increases to 25 cents per bag.<\/li>\n<\/ul>\n

    Transfer Duty rates effective from 1 March 2020 are as follows:<\/p>\n\n\n\n\n\n\n\n\n\n
    Value of property<\/strong><\/td>\nRate<\/strong><\/td>\n<\/tr>\n
    Up to R 1 000 000<\/td>\n0%<\/td>\n<\/tr>\n
    R1 000 001 \u2013 R1 375\u00a0000<\/td>\n3% of the value above R1 000 000<\/td>\n<\/tr>\n
    R1 375 001 \u2013 R1 925\u00a0000<\/td>\nR11 250 + 6% of the value above R1\u00a0375 000<\/td>\n<\/tr>\n
    R1 925 001 \u2013 R2 475\u00a0000<\/td>\nR44 250 + 8% of the value above R1 925 000<\/td>\n<\/tr>\n
    R2 475 001 \u2013 R11 000\u00a0000<\/td>\nR88 250 +11% of the value above R2 475 000<\/td>\n<\/tr>\n
    R11 000 001 and above<\/td>\nR1 026 000 + 13% of the value exceeding
    \nR11 000\u00a0000<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

    Lees in Afrikaans\u00a0\u00a0 \u00a0|\u00a0 \u00a0\u00a0Inguqulelo ngesiXhosa Minister of Finance, Mr Tito Mboweni, delivered the National Treasury\u2019s budget for 2020\/2021 this afternoon. The following amendments stand out: Above inflation adjustment to personal income tax brackets. (This was not done last year)<\/p>\n","protected":false},"author":53,"featured_media":3172,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_exactmetrics_skip_tracking":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[137,108],"tags":[],"class_list":["post-8470","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest","category-newsflash"],"acf":[],"yoast_head":"\nNewsflash | 2020 Budget News - STBB<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/stbb.co.za\/dev2\/newsflash-2020-budget-news\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Johan Greyling\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/stbb.co.za\\\/dev2\\\/newsflash-2020-budget-news\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/stbb.co.za\\\/dev2\\\/newsflash-2020-budget-news\\\/\"},\"author\":{\"name\":\"Johan Greyling\",\"@id\":\"https:\\\/\\\/stbb.co.za\\\/dev2\\\/#\\\/schema\\\/person\\\/1c62d874758d10e45e2abab5308dac2f\"},\"headline\":\"Newsflash | 2020 Budget News\",\"datePublished\":\"2020-02-26T14:05:14+00:00\",\"dateModified\":\"2020-03-03T08:23:56+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/stbb.co.za\\\/dev2\\\/newsflash-2020-budget-news\\\/\"},\"wordCount\":162,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/stbb.co.za\\\/dev2\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/stbb.co.za\\\/dev2\\\/newsflash-2020-budget-news\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/stbb.co.za\\\/dev2\\\/wp-content\\\/uploads\\\/2019\\\/11\\\/rawpixel-592444-unsplash-1_banner.jpg\",\"articleSection\":[\"Latest\",\"Newsflash\"],\"inLanguage\":\"en-ZA\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/stbb.co.za\\\/dev2\\\/newsflash-2020-budget-news\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/stbb.co.za\\\/dev2\\\/newsflash-2020-budget-news\\\/\",\"url\":\"https:\\\/\\\/stbb.co.za\\\/dev2\\\/newsflash-2020-budget-news\\\/\",\"name\":\"Newsflash | 2020 Budget News - 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