The implications of the Budget for investors
01 March 2016
In last week Wednesday’s National Budget speech, as our investment economist, Arthur Kamp, pointed out, minister Gordhan showed that he has a full arsenal of options to increase revenue. This year he opted to not increase top marginal tax rates or VAT. Instead the minister used a combination of increases in excise duties, the fuel levy and other green taxes, capital gains tax and transfer duty, and provided only limited relief for fiscal drag this year by adjusting the upper tax brackets by less than inflation.