Business

February 25, 2018

IDT allegedly ‘canned' forensic report to recoup R100m

Bankrupt state-owned entity the Independent Development Trust (IDT) has been sitting on a forensic investigation report that recommends that it recoup almost R100 million in overpayments that were made for a major project in KwaZulu-Natal.
February 25, 2018

Land is state revenue

The collection of land rent must not be seen as an opportunity for politicians to milk taxpayers, but must replace taxation, writes Stephen Meintjes.
February 25, 2018

VAT hike irks unions

SA Federation of Trade Unions’ Zwelinzima Vavi says: I will personally recommend that we strike against the increase in VAT.
February 25, 2018

Gupta dust clouds budget speech

While the winds of change have been sweeping through Parliament, the dust of the Guptas still clouded the place on Budget Day.
February 25, 2018

Treasury gets tough

Dodgy municipal finances are a growing scourge and Treasury seems to be getting impatient with the third tier of government’s autonomy with R120bn of the budget.
February 25, 2018

The ‘hurt when you spend’ budget

As government targets consumption tax, the burden will fall on to the emerging middle class.
February 25, 2018

VAT is a better devil

The budget is belt-tightening but it needs to be to get the country out of this very difficult fiscal position.
February 25, 2018

Who will write Cyril's mining charter?

The charter published by Minister Mosebenzi Zwane last year set controversial transformation targets that mines said were illegal and impossible.
February 25, 2018

Ramaphosa election the biggest confidence boost since 1994

The resignation of Jacob Zuma as president of the country and his replacement with Cyril Ramaphosa could be the biggest boost to business and consumer confidence since 1994, Bureau for Economic Research (BER) deputy director George Kershoff has said.
February 24, 2018

VAT is going to be headache for all

A 1% increase in VAT is enough to create financial nightmares for the already struggling Ngcibi family in Port Elizabeth, Eastern Cape.
February 24, 2018

Stadio expansions set to also benefit Embury Institute

Private teacher-training education institute, Embury Institute for Higher Education, is eyeing its fourth campus with the recent acquisition of a piece of land in the Western Cape by its listed mother company, Stadio.
February 22, 2018

‘Not a budget for the poor’ – Mixed reactions to Gigaba’s budget speech

Finance Minister Malusi Gigaba’s unpopular maiden budget speech has been met with mixed reactions. Opposition parties, social services organisations as well as ordinary South Africans have lambasted it as “anti-poor”, while some in the business frate
February 22, 2018

Infographic: This is what the budget will cost you

A stern delivery of the budget speech by Finance Minister Malusi Gigaba marks a number of tax increases, which sees a hike in value-added tax for the first time in 25 years.
February 21, 2018

VAT rate to increase for first time in 25 years

The government is going to hike the rate of Value Added Tax this year for the first time in 25 years to help plug a R48 billion shortfall in revenue collections.
February 21, 2018

Land reform spending stagnates as budget, hectares are cut

Despite Finance Minister Malusi Gigaba saying in his budget speech that “accelerating land reform has become urgent”, the R4.2 billion allocated to buy 291 000 hectares of land in the next three years actually represents a reduction in state land buying.
February 21, 2018

Fees fall all over the budget

Jacob Zuma’s promise in December of widespread fee-free university education will consume R57 billion of the R85 billion Treasury had managed to cut from the medium-term budgets of all departments.
February 21, 2018

Gigaba’s defensive budget: 'Why VAT had to be increased'

Warnings of a “tough” and unpopular budget were on the mark. Value-added tax, widely seen as the most regressive tax of all, will increase from 14% to 15% – the first increase since 1993.
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February 25 2018