South African Budget Speech 2019

[Outlook]

The Minister of Finance, Tito Mboweni, will deliver the South African budget speech on 20 February 2019.

 

I will post a video to the live speech here when it goes live.

I really hope this is not a political event given the current election year. They need to focus on national government debt.

#BudgetSpeech2019

 

Watch it live here:

 

[Spreadsheet Ranger]

I hope we see/get something exciting, but I suspect all we will get is a higher fuel levy and an increased sin tax.

[SaurusDNA]

And don't forget tax-bracket creep! This one is the silent unnoticed killers that they've been doing for the past few years.

 

I don't know how they're going to manage the Eskom issue - if they bail out Eskom, we get the final ratings downgrade to junk by Moody's. If they don't, Eskom will be bankrupt by April.

 

Things that I think will be strategically omitted from the speech (but really hope he does address):

• Tax free investment account annual and lifetime limit increases.
• How they're going to fund free education.
• How they're going to fund the e-tolls issue.

Edited February 20, 2019 by SaurusDNA

[Bandit]

No bailout for Eskom. R23 billion pa support over next three years though.

No increase in personal income tax rates or brackets.

[Spreadsheet Ranger]

15 minutes ago, Bandit said:

No bailout for Eskom. R23 billion pa support over next three years though.

 

That is great news?

[Spreadsheet Ranger]

I did not listen to the whole budget, was away.

I see businessinsider reported that government will give first-time buyers subsidies through its Our Help to Buy scheme.

Anyone know where I can get info on this "Help to Buy scheme", I tried google'ing but could not find much.

[Bandit]

18 hours ago, Spreadsheet Ranger said:

 

That is great news?

 

Perspective. It's less than what Eskom wanted.

[SaurusDNA]

I guess the annual limits of Tax free investment accounts will remain at R33000 for the third year in a row then...   

[Bandit]

17 hours ago, Spreadsheet Ranger said:

I did not listen to the whole budget, was away.

I see businessinsider reported that government will give first-time buyers subsidies through its Our Help to Buy scheme.

Anyone know where I can get info on this "Help to Buy scheme", I tried google'ing but could not find much.

 

I don't have any info on it but I reckon you are not, erm, poor enough to qualify...

[Bandit]

1 minute ago, SaurusDNA said:

I guess the annual limits of Tax free investment accounts will remain at R33000 for the third year in a row then...   

 

It helps to think of TFSAs as an initiative by government to get the poorer middle class to save and we the "rich" are misusing it

 

Country is already strapped for cash so I doubt we'll get more tax breaks any time soon.