Trevor Manuals Budget Speech 2009 /10
1 comment so farHi Everyone,
I hope you are all well and having a great week so far.
While to some, this may be old news but I wanted to chat to you about the budget speech that Trevor Manual, South Africa’s Finance Minister delivered last week during what seemed to be a melancholy address of the nation regarding finances for the upcoming financial year.
Understandably so, aside from the global economy scraping along the underbelly of the recession pool, our countries economy is taking its fair amount of strain along with the upcoming political challenges that we will be faced with in April.
Not to say the upcoming elections are a bad thing, but these do always tend to create a little bit of a dip in foreign investment while under way. Needless to say, Mr Manual delivered a beautifully articulated speech, as to be expected and the one thing that I’m absolutely stoked beyond my prayer beads about is the announcement of reduced personal income tax. While there is a very sound and smart strategy behind this, in my eyes it’s still completely terrific that we will all be paying marginally less tax each month which will ultimately mean we clear just a little bit of extra cash after each pay day. With the intention of injecting more wealth into our own economy ahead of the 2010 world cup as well as to clear the domestic debauchery of dept that most of us are battling to cover, bring on the tax relief! Trevor for President!
In fact I’m so excited about this reduction in personal income tax I have included a handy tax calculator link to help you to work out how much of a saving you will be making with this financial years reduction. The attached tax calculator is compliments iafrica.com and not only shows you what you can expect to pay in personal income tax this year but how this amount compares to what you were paying during last year.
Here are a few other top financial changes that will be applied as a result of the budget speech;
- Sin Taxes Increase (expense)
- A box of cigarettes will now cost an additional 88 cents per box
- A bottle of spirits (750ml) will increase by R3.21
- A can of beer will now cost 7cents more
- Petrol and Diesel on the Rise in April (around 40 cents per litre) (expense)
- Old age, Disability and Care Grants to increase by R50 per month (income)
- Foster Care Grant to Increase to R680 (income)
- Child Support Grant of R240 per child is now extended to children up to the age of 15 years
- R932 Million to be injected into the treatment and prevention of HIV/Aids
And that’s about as much financial coverage as I choose to dabble in.
Go check out the tax calculator, amidst the doom and gloom of our finances I think you may be pleasantly surprised at the saving you will be making in the next 12 months.
Hope you all have a marvellous evening and I will catch up with you later on in the week.
Namaste’
Jo Blog
Tuesday, February 17th, 2009 at 4:57 pm and is filed under General Jobs.co.za, JoBlog's Workplace, The Employment Times. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
I must admit that it is very difficult to stay positive in these trying times, with the economy looking very bad and the recession getting the best of even the strongest of us.
BUT… I must admit that the I checked out the tax calculator and YES, FINALLY, some good news. Less personal tax!!!
The 88cents on siggies is a bit of a downer for me though, never have met a recruitment consultant who does not smoke or has a strong drink every now and then. Recruitment is a very tuff industry you know!?
All the best to all the recruiters out there! Hope this recession ends rapidly so we can make loads of money!!!