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The supplementary budget - tax payers may not be off the hook for long

24 June 2020 7:22 PM
Tags:
Recession
SARS
Tito Mboweni
Lockdown
Supplementary Budget
Covis-19

What does the budget speech today mean for you and your future tax refunds?

If you have not felt the strain on the economy yet and still have a job - should you be worried about increased taxes?

What did the speech mean from a personal income tax perspective?

From a personal income tax perspective we note that the minister has not made any direct changes to the pocket - he has not introduced new taxes...

Thamsanqa Msiza, Head of Individual Tax Returns - Tax Consulting SA

But I think what we are worried about is the target of one-point-one trillion that SARS has been given, SARS's behaviour - that is what we should be worried about as the general man in the street.

Thamsanqa Msiza, Head of individual Tax returns - Tax Consulting South Africa

Looking at what they need to do for the tax season in terms of collecting taxes you have to wonder in order to get to that one-point-one trillion they will have to look at being more stringent when they look at your return...it will need a little bit more work to get that refund...

Thamsanqa Msiza, Head of individual Tax returns - Tax Consulting South Africa
Picture: 123rf

Listen to the interview below.

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24 June 2020 7:22 PM
Tags:
Recession
SARS
Tito Mboweni
Lockdown
Supplementary Budget
Covis-19

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