Budget’s unexpected tax relief

IN HIS Budget speech on Wednesday, Finance Minister Tito Mboweni was unexpectedly kind to you, the taxpayer, in setting out the tax rates for the 2021/22 tax year. Many commentators believed the government had no choice but to squeeze South African consumers for more, given its radically worsening debt situation. A wealth tax was mooted, as was an increase in VAT.

These things did not come to pass, thanks in part to an unexpected R99 billion in extra revenue collected last year. Income tax payers will