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Budget for 2013-14 – presented to Parliament

04 May 2013

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Proposed Changes

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South Africa

The Budget for 2013-14 was presented to Parliament by the Minister of Finance on 27 February 2013. The most important features of the Budget, which will generally apply from 1 March 2013, are as follows: -   proposal to initiate a tax review to assess the tax policy framework and its role in supporting the objectives of inclusive growth, development and fiscal sustainability; -   proposal to increase personal income tax relief and make adjustments to the medical tax credit; -   proposal to reform the tax treatment of contributions to retirement savings; and -   proposal to introduce an...