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

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

//business-finance.news-articles.net/content/202 .. what-to-expect-in-south-africa-s-new-budget.html

Published in Business and Finance on Wednesday, March 12th 2025 at 10:20 GMT by BusinessTech

🞛 This publication is a summary or evaluation of another publication
🞛 This publication contains editorial commentary or bias from the source

Economists at Nedbank lay out what they expect from Finance Minister Enoch Godongwana's second attempt to balance South Africa's books.

2025-03-12 196 x 110 / 3737 Bytes

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/ ]