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Of interest

18 February 2004 Angelo Coppola

Budget highlights - Manuel waxes lyrical.

* R72bn in tax cuts since 1994

* R327bn revenue projected for 2004

* Lower than expected sin tax - R800m revenue to government for tobacco products

* No tax on traditional beer - to appease the traditional leaders

* R4bn reduction in income tax revenue

* Lowest tax bracket threshold increased to R33 222

* 10% dividend threshold increased - R62m loss to government

* Exemption threshold increased to R150 000 for home-buyers

* Stamp and mortgage duties removed for properties - R250m loss to the government

* Travel allowances - to review travel allowance tax this year

* Foreign firms can list on the JSE sometime this year

* Amnesty process underway - 14250 applications received by the end of January

* 2200 'tips for Trevor'

* Retirement tax issues - still to be reviewed

* VAT staying at the same level

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