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IS VENTURE CAPITAL RIGHT FOR YOUR BUSINESS?

Posted by Bernard Schoeman on 26 June 2024.

Bernard Schoeman

CA(SA), Post Graduate Diploma Accounting, BCom

The Tax Shop Head Office

More about Bernard Schoeman

Bernard studied BCom majoring in information systems and accounting at the University of Cape Town and qualified as a Chartered Accountant (SA) in 1997 after completing of his articles with Deloitte & Touche. Bernard has extensive international and local experience having worked for nearly three years with financial institutions in the UK (London) and having audited numerous companies listed on the JSE in South Africa. He is a member of the South African Institute of Chartered Accountants.

Budget 3.0: VAT Increase Out, Fuel Levy Hikes In

Posted by: Bernard Schoeman on

28 May 2025

Last month’s Budget 3.0 withdrew the contentious proposed VAT changes. This resulted in inflation-linked fuel levy increases of 16c for petrol and 15c for diesel, from 4 June.

Other tax proposals from March’s Budget – including static personal tax thresholds, reduced transfer duties, and sin tax increases – remain unchanged.

The tax measures contained in Budget 3.0 will raise an additional R18bn in 2025/26. A further R20bn in tax measures are postponed to Budget 2026 – unless SARS collects an extra R35bn in uncollected taxes, for which Budget 3.0 allocated an additional R4bn in funding.

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