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.
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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.