On 21 February 2024, Finance Minister Enoch Godongwana presented the Government’s financial roadmap for 2024, steering clear of major tax hikes amidst growing pressure. Key highlights include:
- No VAT increase
- No new wealth tax
- No rise in fuel levy and Road Accident Fund levy for the 3rd consecutive year
In an unprecedented move, the National Treasury will use SA’s Gold & Foreign Exchange Contingency Reserve Account (GFECRA) for the first time in 20 years.
Click here to access Sanlam Corporate’s 2024 Budget commentary. For information on how the 2024 National Budget speech affects you and to view Sanlam’s media releases, click here.