THE Minister of Finance, Malusi Gigaba is currently announcing the Budget for 2018/19. The highlights of Gigaba’s budget include the following:

• Value added tax rises from 14 per cent to 15 per cent. This he said would become effective on 1 April 2018.
• Estate duty rate increases from 20 per cent to 25 per cent on dutiable amount of estates of more than R30 million.
• Donations tax rate increases from 20 per cent to 25 per cent on donations of more than R30 million.

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• The general fuel levy increases by 22 cents per litre and the Road Accident Fund levy increases by 30 cents per litre on 4 April.
• There will be increased environmental taxes on plastic bags, incandescent light bulbs and vehicle emission tax,  and the new health promotion levy on sugary beverages are effective from 1 April.

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