BUDGET SPEECH : MORE DETAILS

Herewith two interesting highlights of the budget speech that affects your income tax return and leaves more money in your pocket. 

If you are under 65 years, note that:

• the income tax threshold increased from R54200 to R57000; and
  
• the interest and dividend exemptions have increased from R21000 to R22300.  

If you are older than 65 years, note that:

• the income tax threshold increased from R84200 to R88528; and
  
• the interest and dividend exemptions have increased from R30000 to R32000.