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Budget 2023
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5 March 2021
9
Apr
2025
0

Some Key Points From South Africa’s 2025 Budget…

• VAT Increase:
The budget includes a 0.5% increase in the Value Added Tax (VAT) rate, with a potential further increase of 0.5% in 2026.

• Economic Growth:
The country’s growth is estimated to reach 0.90% for 2025, while the Budget assumes a growth rate 1.90% for 2026.

• Spending Priorities:
Key spending areas include Learning and Culture (Education), Social Development (Grants and Welfare), Health Services, Community Development (Infrastructure & Housing), and Economic Development (Job Creation & Innovation).

• Retirement Fund Proposals:
The two-pot system for retirement funds remains in place, with no changes to the ability of members to access their retirement component until retirement.

• Personal Income Tax:
Personal income tax brackets and rebates will not be adjusted for inflation in 2025/26.


Note: South Africa’s 2025 budget is still subject to parliamentary approval and potential amendments.