The document summarizes key aspects of South Africa's 2017 budget, including a budget deficit of R147.9 billion (3.1% of GDP), GDP growth projections of 0.5% in 2016/17 and 1.3% in 2017/18, and personal income tax rate increases. Key tax rates such as the top marginal tax rate and dividends tax were increased. Sin taxes on alcohol and cigarettes were also raised.
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Budget at a glance infographic pdf
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BUDGET 2017
at a glance
BUDGET DEFICIT
GDP GROWTH
FUEL AND ENVIRONMENT
-R147.9 billion
2016/17 2017/18
R4.3 trillion
(total GDP)
R4.66 trillion
(total GDP)
0.5% 1.3%
-3.1%
of GDP
-3.4%
of GDP
-R149 billion
45.5%
of GDP
47%
of GDP
R2
trillion
R2.2
trillion
PERSONAL INCOME TAX
COMING SOON...
2017 2018
Taxable income Rate of tax Taxable income Rate of tax
R0 โ R189 880 18 % of each R1
R189 881 - R296 540 R34 178 + 26% of the amount
above R189 880
R296 541 - R410 460 R61 910 + 31% of the amount
above R296 540
R410 461 - R555 600 R97 225 + 36% of the amount
above R410 460
R555 601 - R708 310 R149 475 + 39% of the amount
above R555 600
R708 311 - R1 500 000 R209 032 + 41% of the amount
above R708 310
R1 500 001 and above R533 625 + 45% of the amount
above R1 500 000
TAXATION
KEY INDICATORS
+30 cents
Per Litre
+9 cents
Road Accident Fund Levy
SIN TAX
+12c +30c+R4.43 +93c +R1.06
+9% +8.8%+8.5% +8.8% +8%
340 ml can
of beer
Bottle of
wine
Bottle of
750 ml spirits
Bottle of
sparkilng wine
Box of 20
cigarettes
TOTAL GOVERNMENT DEBT
2016/17 2017/18
2016/17 2017/18
TOP MARGINAL TAX RATE
41% 45%
2016/17 2017/18
6.4% 6.3%
CONSUMER PRICE INDEX
2016/17 2017/18
15% 20%
DIVIDENDS TAX
+39cents
2016/17 2017/18
R0 โ R188 000 18 % of each R1
R188 000 โ R293 600 R33 840 + 26% of the amount
above R188 000
R293 601 โ R406 400 R61 296 + 31% of the amount
above R293 600
R406 401 โ R550 100 R96 264 + 36% of the amount
above R406 400
R550 101 โ R701 300 R147 996 + 39% of the
amount above R550 100
R701 301 and above R206 964 + 41% of the
amount above R701 300
The limited adjustment for the effects of inflation on tax payment results in R12.15bn
additional tax revenue for the government.
The introduction of a new 45% marginal tax rate for people earning above R1.5m results in
R4.4bn additional tax revenue for the government. Roughly 103 000 people are afftected
by this.
??% ??%
SUGAR TAX CARBON TAX
