Can you ensure your business is compliant?

The 2020/2021 Budget Speech will be announced by Finance Minister Tito Mboweni on 26 February 2020. So in preparation for this tax season, we will provide you with Budget Speech updates, insights, changes and tools, visit tax.sage.co.za to stay up to date this tax year-end.

Our HR & Payroll software complies with the 2019 tax rates, as announced by Tito Mboweni in the 2019/2020 Budget Speech and will be updated following the announcements on 26 February 2020. This includes the tax thresholds, tax tables and taxable portion of the travel allowance to name a few.

In keeping with the changes announced in the latest Budget Speech, our salary tax calculator gives you a view of what your tax saving or liability will be in the new tax year.

Click here to calculate your tax, with our free online salary tax calculator.

• There is an upward revision to budget deficit targets and debt ratio.
• Envisaged savings in public sector wage bill announced.
• R15 billion increase in tax burden for individuals.
• There were no changes to corporate tax.
• Total expenditure growth of +7.9% over the next three years (real spending growth of +2.3% on average per annum)
• The budget focused heavily on Eskom:
  
  
  
  • Supportive stance taken towards Eskom and other SOEs.
  • There will be no Eskom debt transfer, but rather an Eskom cash injection of R23 billion per year for 3 years, partially financed through public sector wage cutbacks.
  • Chief Reorganisation Officer to be appointed at Eskom.

Visit tax.sage.co.za for updates and more information once the Budget Speech has been announced on 26 February 2020.