South Africans will pay 80.5c more for every litre of fuel
purchased. This increases the State’s slice to R4.13 per
litre of petrol from the current R3.30 – or from 28% to
41%.
Income tax rates are raised by one percentage point for
those earning more than R15 100 per month. This will
raise R9.4bn, offsetting the annual benefit through an
adjustment for fiscal drag and medical credits.
The net effect of the new income rates is that those
earning less than R37 500 a month (R450 000pa) will
pay less tax with those above this level paying more.
Micro enterprises and SMEs generally will benefit from
significant tax reduction. The 1% annual turnover tax
threshold has been doubled from R150 000 to R300 000.
The taxes are halved on up to R1m in turnover.
“Sin” taxes have been hiked with smokers contributing
an extra R600m and alcohol drinkers R1.2bn in the year
ahead. the tax on a quart of beer goes up by 15.5c, a
bottle of wine will cost 15c more, a bottle of sparkling
wine goes up by 48c, a bottle of whisky will be R3.77
more; a pack of 20 cigarettes goes up by 82 cents.
The electricity levy has been increased from 3.5c/kWh
to 5.5c/kWh, to assist in demand management. This
additional 2c/kWh will be withdrawn when the electricity
shortage is over and/or when the proposed Carbon Tax
kicks in during 2016.
Property transfer duties have been increased with a new
rate of 11% (previously 8%) introduced for transactions
over R2.25m. The tax free hurdle rate has been raised
from R600 000 to R750 000.
SA’s economic growth forecast for 2015 has been
reduced to 2% from 2.5% projected during the Mini
Budget in October. Growth is expected to rise to 3% by
2017.
In this 2015/16 Budget, a consolidated Budget Deficit of
3.9% of GDP is projected, falling to 2.5% in 2017/18.
Government spending is projected to rise at 2.1% a year
until 2018. State salaries will take a steady 40% of the
Budget; repayments on Government debt will rise from
R115bn this year to R153bn in 2017/18.
Government debt to GDP ratio is now expected to
stabilise at 44% in three years’ time. Three years ago a
ceiling of 38% had been projected.
Social assistance beneficiaries numbered 16.4 million in
December 2014; the growth in numbers require that an
additional R7.1 billion will be spent on Social
Development this year. At least 60% of the State’s on
interest income will go towards social services and
alleviating poverty.
With effect from 1 April the old age, war veterans,
disability and care dependency grants will increase by
R60 a month to R1 410; child support grants increase to
R330; foster care grants increase by R30 to R860.
Central Government will make a contribution to
Gauteng’s eTolls, which translates into a reduction for
motorists. But the user pay principle will continue to be
the biggest funder of the road system.
The current projection is that tax revenue will amount to
R979 billion in 2014/15, or about R14.7 billion less than
the budget estimate a year ago. Budget revenue will be
R1 091 billion this year, or about 8.2 per cent more than
in 2013/14.

www.biznews.com/budget/2015/02/25/budget-2015-in-a-nutshell/

14:
South Africans will pay 80.5c more for every litre of fuel
purchased. This increases the State’s slice to R4.13 per
litre of petrol from the current R3.30 – or from 28% to
41%.
Income tax rates are raised by one percentage point for
those earning more than R15 100 per month. This will
raise R9.4bn, offsetting the annual benefit through an
adjustment for fiscal drag and medical credits.
The net effect of the new income rates is that those
earning less than R37 500 a month (R450 000pa) will
pay less tax with those above this level paying more.
Micro enterprises and SMEs generally will benefit from
significant tax reduction. The 1% annual turnover tax
threshold has been doubled from R150 000 to R300 000.
The taxes are halved on up to R1m in turnover.
“Sin” taxes have been hiked with smokers contributing
an extra R600m and alcohol drinkers R1.2bn in the year
ahead. the tax on a quart of beer goes up by 15.5c, a
bottle of wine will cost 15c more, a bottle of sparkling
wine goes up by 48c, a bottle of whisky will be R3.77
more; a pack of 20 cigarettes goes up by 82 cents.
The electricity levy has been increased from 3.5c/kWh
to 5.5c/kWh, to assist in demand management. This
additional 2c/kWh will be withdrawn when the electricity
shortage is over and/or when the proposed Carbon Tax
kicks in during 2016.
Property transfer duties have been increased with a new
rate of 11% (previously 8%) introduced for transactions
over R2.25m. The tax free hurdle rate has been raised
from R600 000 to R750 000.
SA’s economic growth forecast for 2015 has been
reduced to 2% from 2.5% projected during the Mini
Budget in October. Growth is expected to rise to 3% by
2017.
In this 2015/16 Budget, a consolidated Budget Deficit of
3.9% of GDP is projected, falling to 2.5% in 2017/18.
Government spending is projected to rise at 2.1% a year
until 2018. State salaries will take a steady 40% of the
Budget; repayments on Government debt will rise from
R115bn this year to R153bn in 2017/18.
Government debt to GDP ratio is now expected to
stabilise at 44% in three years’ time. Three years ago a
ceiling of 38% had been projected.
Social assistance beneficiaries numbered 16.4 million in
December 2014; the growth in numbers require that an
additional R7.1 billion will be spent on Social
Development this year. At least 60% of the State’s on
interest income will go towards social services and
alleviating poverty.
With effect from 1 April the old age, war veterans,
disability and care dependency grants will increase by
R60 a month to R1 410; child support grants increase to
R330; foster care grants increase by R30 to R860.
Central Government will make a contribution to
Gauteng’s eTolls, which translates into a reduction for
motorists. But the user pay principle will continue to be
the biggest funder of the road system.
The current projection is that tax revenue will amount to
R979 billion in 2014/15, or about R14.7 billion less than
the budget estimate a year ago. Budget revenue will be
R1 091 billion this year, or about 8.2 per cent more than
in 2013/14.

www.biznews.com/budget/2015/02/25/budget-2015-in-a-nutshell/

lolest this budget accommodates 70% of African budgets....south Africa is the real Giant of Africa

Lol no Nigerian will comment on this post....!!!

Lol no Nigerian will comment on this post....!!! Nigeria's budget vs South Africa's budget let's see who's the real mentor and a leader of Africa!

vandalZA:
Lol no Nigerian will comment on this post....!!!

Hahaha. Niqalile.

A country at work

PunkyBrewster:


Hahaha. Niqalile.

azizwa lezimbongolo

vandalZA:
azizwa lezimbongolo

Kikikiki. Ngumona.

i m not surprised sa is never inferior and never will. every african will benefit from that budget coz our university will accomodate thier children. thier drug dealers enjoy our dirty hilbrow. that is how lazy we are with a second gdp that grows at 2% but still maneges to distribute the biggest budget in africa. I thot with thier intellects and clever student on our universities

paniki:
http://en.wikipedia.org/wiki/List_of_government_budgets_by_country

So Nigeria's budget still at $23Billion, thats what South Africa spends only on education.
It just goes to show who is the power house economy in Africa, even the arabs are well aware that SA runs the show. dont believe those fake paper economy.

sostoz:
i m not surprised sa is never inferior and never will. every african will benefit from that budget coz our university will accomodate thier children. thier drug dealers enjoy our dirty hilbrow. that is how lazy we are with a second gdp that grows at 2% but still maneges to distribute the biggest budget in africa. I thot with thier intellects and clever student on our universities

So lazy South Africans still work hard to collect the biggest tax amount in the whole of africa. Then who is lazy. Some of the money is still gonna go to most african countries. you must ask who is the biggest african country investor in Africa. which means money made in SA gets invested through out Africa.

lol texting on a touch pad is not easy i see some spelling errors pls bare with my texts...anyway this explains who is the giant of black africa remember government of sa is blck so no excuses of white brains the finance minister is Zulu and dats how he plans to allocate funds. so when u go to study in sa u will c a black man chilling and foreigners geting thier hands dirty bcoz they hv no choice in a foregn land. they slave like hell and white sa will exploit em like hell. lol im waitin for the naija budget.

sostoz:
so when u go to study in sa u will c a black man chilling and foreigners geting thier hands dirty bcoz they hv no choice in a foregn land. they slave like hell and white sa will exploit em like hell. lol im waitin for the naija budget.

NOTE#

One plane ride to the DA controlled Western Cape and those memories of APatheid come flushing back.

morpheus24:


NOTE#

One plane ride to the DA controlled Western Cape and those memories of APatheid come flushing back.

The head of DA in in parliament is black. There are not enough whites to give DA there numbers.

i m not easily intimidated by whites morph. i c em during working hour and back to my black township as i m not interested in relocating to so-called surburb arear so as long as my daughter recieve quality private education its fine. so ur DA i c it on tv and coloured arear only and apartheid is a past morph its nice to be a black sa we hv more opportunities than any other african my friend especialy if u hv a skill. so what else morphy?
when is ur budget imean even aliko dangote can sponsor u with budget allocation its so microscopic and yet u brag about being a Giant or being most intelligent africans.

vandalZA:
Lol no Nigerian will comment on this post....!!! Nigeria's budget vs South Africa's budget let's see who's the real mentor and a leader of Africa!

even when we attain a trillion dollar economy, our budget won't get up to $100 billion ... currently, the large chunk of our $510 billion goes to oil producing states before budget.

exposure won't make you stupid.. that's why many Nigerians does not want to engage you dimwits.
ever wondered why our defense budget trumps yours?

https://www./20140628084609-109819820-nigeria-s-top-10-federal-revenue-receiving-states

for now, enjoy the bragging right

sostoz:
lol texting on a touch pad is not easy i see some spelling errors pls bare with my texts...anyway this explains who is the giant of black africa remember government of sa is blck so no excuses of white brains the finance minister is Zulu and dats how he plans to allocate funds. so when u go to study in sa u will c a black man chilling and foreigners geting thier hands dirty bcoz they hv no choice in a foregn land. they slave like hell and white sa will exploit em like hell. lol im waitin for the naija budget.

Firstly Nigeria is structured differently, politically and economically to SA and many other African countries.

1. Lagos for example makes her own money and implements her own capital projects outside budget while all the money generated in Gauteng amongst other provinces is included in your R120billion.

2. Oil producing states get money outside our budget.

Nigeria is richer than all african countries including SA. that's the criteria for power, not budget. Our budget is basically oil revenue, nothing else, don't get so worked up about it lad. Morocco's budget is higher than ours they're not embarrasing themselves like saffers.

iterator24:

Firstly Nigeria is structured differently, politically and economically to SA and many other African countries.

1. Lagos for example makes her own money and implements her own capital projects outside budget while all the money generated in Gauteng amongst other provinces is included in your R120billion.

2. Oil producing states get money outside our budget.

Nigeria is richer than all african countries including SA. that's the criteria for power, not budget. Our budget is basically oil revenue, nothing else, don't get so worked up about it lad. Morocco's budget is higher than ours they're not embarrasing themselves like saffers.

lolest your budget is your oil revenue and aslo your GDP is your oil revenue......mmh! Nigerians

vandalZA:
lolest your budget is your oil revenue and aslo your GDP is your oil revenue......mmh! Nigerians

so they taught you in school that budget and GDP are synonymous?

iterator24:
even when we attain a trillion dollar economy, our budget won't get up to $100 billion ... currently, the large chunk of our $510 billion goes to oil producing states before budget.

exposure won't make you stupid.. that's why many Nigerians does not want to engage you dimwits.
ever wondered why our defense budget trumps yours?

https://www./20140628084609-109819820-nigeria-s-top-10-federal-revenue-receiving-states

for now, enjoy the bragging right

you should read your link before posting it. In your link they are talking about the budget of your states, no defence budget talked about...... And if you could make some calculations that money doesn't account to even R300billions($30billions)............. and their comparing it with your neighbours budgets and I don't remember south Africa being your neighbour

Nigeria's budget $20billion #fact

vandalZA:
Nigeria's budget $20billion #fact

we awarded a $13 billion contract to China last month [largest ever on the continent] , gave our millitary over $6 billion [trumps your defense budget], paid salaries worth over $5 billion from your '$20 Billion'.. you don't know what its like to be rich hommie...

enjoy the bragging right..

vandalZA:
you should read your link before posting it. In your link they are talking about the budget of your states, no defence budget talked about...... And if you could make some calculations that money doesn't account to even R300billions($30billions)............. and their comparing it with your neighbours budgets and I don't remember south Africa being your neighbour

link tells you our states don't depend on budgets like your provinces do...

vandalZA:
lolest this budget accommodates 70% of African budgets....south Africa is the real Giant of Africa

countries are boasting of GDPs you're here dying over budget? smh

lol u make no sense at all...point of correction our budget is $120 billion not R120 billion. even so ur millitary cant even show superiority during this period of insurgence any way not that m happy for that. I wont ague any further if u say so i respect ur opinion. i wish i can c ur budget although i dnt understand ur federal government. but i still think sa is a leading country with the bigest budget in africa and have the most lucrative football league in africa and competes with swizz, belgian, and australian league.

sostoz:
lol u make no sense at all...point of correction our budget is $120 billion not R120 billion. even so ur millitary cant even show superiority during this period of insurgence any way not that m happy for that. I wont ague any further if u say so i respect ur opinion. i wish i can c ur budget although i dnt understand ur federal government. but i still think sa is a leading country with the bigest budget in africa and have the most lucrative football league in africa and competes with swizz, belgian, and australian league.

lucrative football league in SA, by south africans. nobody watches your league outside SA dummy. and quit the budget praise its boring, investors want to know the richest. . even if your budget is $200 billion, we can produce it times 2..if you knew better, you won't advertise your ignorance on cyberspace.

and next time use the quote link

iterator24:
lucrative football league in SA, by south africans. nobody watches your league outside SA dummy. and quit the budget praise its boring, investors want to know the richest. . even if your budget is $200 billion, we can produce it times 2..if you knew better, you won't advertise your ignorance on cyberspace.

and next time use the quote link

You can't produce it once. Nigeria is poor. All was has been.

andrewza:


You can't produce it once. Nigeria is poor. All was has been.

your own investors think otherwise

iterator24:
your own investors think otherwise

The fact we have investors shows the great difference. Etween us.

iterator24:
we awarded a $13 billion contract to China last month [largest ever on the continent] , gave our millitary over $6 billion [trumps your defense budget], paid salaries worth over $5 billion from your '$20 Billion'.. you don't know what its like to be rich hommie...

enjoy the bragging right..

awarded a contract to China to do what?..............south Africa last year awarded Russia a $50billion contract to build nuclear power stations and the is still another $50billion pending to go eight France,China or USA for nuclear power stations. And the money in all is $100billions

iterator24:
lucrative football league in SA, by south africans. nobody watches your league outside SA dummy. and quit the budget praise its boring, investors want to know the richest. . even if your budget is $200 billion, we can produce it times 2..if you knew better, you won't advertise your ignorance on cyberspace.

and next time use the quote link

lolest Nigerians do watch it because their brothers are playing in south Africa's football league. And they even have a thread in nairaland were they analysis the south Africa's football league