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Medical aid tax credits, fuel levies and VAT - what to expect in South Africa's new budget

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Economists at Nedbank lay out what they expect from Finance Minister Enoch Godongwana's second attempt to balance South Africa's books.
The article from BusinessTech outlines expectations for South Africa's new budget, focusing on several key areas. Finance Minister Enoch Godongwana is set to address adjustments in medical aid tax credits, fuel levies, and VAT. There's speculation about potential increases in personal income tax, adjustments to medical aid tax credits which might not keep pace with inflation, and possibly a rise in fuel levies despite public discontent. The government might also consider changes to VAT, although increasing it could be politically sensitive. Additionally, the budget might include measures to support economic recovery, manage the country's debt, and address ongoing issues like load shedding and unemployment. The article also hints at possible tax incentives or relief measures aimed at stimulating economic growth and supporting the middle class amidst rising living costs.

Read the Full BusinessTech Article at:
[ https://businesstech.co.za/news/budget-speech/816290/medical-aid-tax-credits-fuel-levies-and-vat-what-to-expect-in-south-africas-new-budget/ ]