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South African Budget Speech 2019

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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:

 

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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 by SaurusDNA
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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.

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

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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...

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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.

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