2009/2010 Budget Highlights

Company Tax Rate remains at 28%.

Tax thresholds for Individuals increased.

Natural Persons under 65 - R54200 (previously R46000)

Natural Persons 65 and over - R84200 (previously R74000)

Interest Exemptions for Individuals increased.

Natural Persons under 65 - R21000 (previously R19000)

Natural Persons 65 and over - R30000 (previously R27500)

Value Added Tax threshold increased from R300 000 to R1 million.

Introduction of new Turnover Tax for Micro Businesses.

Stamp Duties to fall away 1 April 2009.

Estate Duty Exemptions unchanged at R3.5 million.

Capital Gains Tax Primary Residency Exclusion remains at R1.5 million.