2022 National Budget Highlights

Presented with a range of possible choices for the R180 billion revenue overrun in 2021/22, Finance Minister Enoch Godongwana chose to apply as much of that windfall as possible to reducing government debt, demonstrating his determination to reinstate fiscal discipline. His maiden Budget speech shows a clear intent not to jeopardise South Africa’s economic recovery after the pandemic with unnecessary tax increases.

Key points:

  • Relief for individual taxpayers
  • Lowered tax rate for corporates 
  • Debt Stabilisation
  • Rise in excise duties
  • Support for SME’s

To read more about the 2022 National Budget, click on the following links:

  1. SARS: 2022 Budget – Tax Guide
  2. Allan Gray – 2022 Budget speech update
  3. Analytics Consulting – Budget speech wrap up by Kevin Lings