SAVE THE DATE:
Tax Update Physical & Virtual event


13 March 2024
08:00 -10:00

The 2024 budget proposals are good news overall, with no big-ticket tax rate increases, but individuals will feel the fiscal drag due to a lack of inflation-based adjustments. 

As expected of an election year, there were no shock announcements. The Minister remains committed to the goal of raising an additional ZAR 15 billion in taxes as announced in the medium-term budget policy statement. Most (if not all) of this amount will be collected from individuals through personal income tax. 

Despite speculation that personal income tax rates would be increased for high income earners, National Treasury did not change the tax rates, but also did not adjust the tax brackets. Accordingly, as a result of ‘bracket creep’, National Treasury expects to collect additional income tax of ZAR 15 billion from individuals. The country’s increasing budget deficit has made this goal even more pressing amid the continued lower revenue performance and higher than projected debt-service costs. The budget aims to alleviate immediate economic pressure and promote quicker debt stabilisation.

Please join us at The Country Club Johannesburg Woodmead where you can network with colleagues and friends, or join us virtually for a discussion of the latest budget proposals and the practical implications for the reward industry.

Venue: Country Club Johannesburg, Woodmead & Virtual
Cost: Paid-Up Members: No charge | Non-SARA Members: R450

2 CPD POINTS
 

Please note that online registration is now closed for this event
Please note that online registration is now closed for this event

Kelly Wright is a partner in the Bowmans Tax Practice. 

She works closely with the Reward practice to structure and implement long- and short-term incentive plans for a wide range of clients. Kelly also structures merger and acquisition transactions and regularly advises on debt and equity reorganisation transactions, as well as tax disputes.