The budget speech is one of those irritating events that I never pay much attention to as it is way too depressing to see how our wonderful government is shafting us!
It is just an official platform for the government to publicly rob us. They rest of the year they also rob us, but not publicly.
2015 Budget Speech
If you want the outcome of the entire budget speech then just Google it. I am highlighting a few points that really grates me.
- Increase personal income tax rates by 1% for all taxpayers earning more than R181 900.00 1% does not sound like much but if calculated on a salary of R16 000.00 you will end up paying an additional R160 a month. The ads up to R1 920.0 a year! That is a lot of many for many people.
- Raise the general fuel levy by 30.5c a litre. The Road Accident Fund levy will also increase by 50c/litre, bringing total fuel levy increases to 80.5c a litre. As if the fuel price is not a touchy subject already… Are they not already taking enough? Daylight robbery I tell you!
- Smokers will be paying an additional 82c per pack of 20 cigarettes. Booze is of course also going up by various amounts depending on your poison of choice. Why on heavens earth are they benefiting from our unhealthy choices? This is so unfair! It’s rude to benefit from the weak!
There was one piece of the budget speech the stood out for me and that is the change on transfer duty when buying a home. Previously, you only paid transfer duty if the property that you bought was over R600 000.00 this amount has been increased to R750 000.00. Trust me, that is a big help when purchasing property. Not paying transfer duty can save you around R20 000.00 depending on the cost of your property. There is much more to moan about but these points really stood out for me. If you have anything to add to this or have any comments, please feel free to share them below.