National Budget Speech 2017| Sanlam
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The South African National Budget Speech 2017

How it will impact your personal income

The 2017 National Budget Speech was delivered on 22 February, wherein Finance Minister Pravin Gordhan disclosed the government's planned expenditure for 2017 and announced the new tax rate. If you’re wondering how this will affect your income and budget in the coming financial year, use the 2017/2018 Sanlam Tax Calculator below.

Tax Calculator

Work out what the 2017 Budget means for your income tax.

Commentary

Read our experts’ opinion on the 2017 Budget Speech.

Downloads

Download the Budget Speech transcripts and tax information.

Solutions

Invest online and save on your personal tax in 2017.

2017/2018 Tax Calculator

Calculate your monthly and annual income tax for the 2017/2018 tax year.

Key Points of Interest

  • The tax-free savings annual allowance has been increased from R30 000 to R33 000 per tax year, which means you can now invest 10% more
  • The government has implemented a new top tax rate of 45% for incomes higher than R1.5million
  • Limited personal income tax relief in tax tables and rebates
  • The dividend withholding tax rate has been increased from 15% to 20%, and the tax threshold has been increased from R75 000 to R75 750
  • No mention was made of a VAT increase
  • The transfer duty threshold has increased from R750 000 to R900 000
  • The general fuel levy has been increased by 30 cents per litre and the road accident fund levy has gone up by 9 cents per litre
  • Excise duties for alcohol and tobacco will increase by 6-10%, which means you’ll be paying more for beer, wine, spirits and tobacco products
  • The sugar tax proposal will come into effect later in the year, and the proposed carbon tax will still undergo further consideration

Downloads

Budget Speech Transcripts

Budget Speech 2017 by the Minister of Finance

National Treasury Budget Highlights

People's Guide to the Budget: Afrikaans

People's Guide to the Budget: English

People's Guide to the Budget: Setswana

People's Guide to the Budget: Xhosa

People's Guide to the Budget: Zulu

 

Tax Pocket Guide

Tax Pocket Guide 2017

Post-budget Commentary

Economist View

Arthur Kamp, Investment Economist: Sanlam Investments

The Impact on Consumers’ Pockets

Trurman Zuma, Chief Executive: Savings

Impact on the Retirement Fund Industry and Members

Anton Swanepoel, Head of Legal Services: Sanlam Employee Benefits

The Aspects that Impact Financial Planners

Sanlam Life: Law Service

Tax Efficient Investment Solutions

Now is the time to start exploring tax-efficient ways to save in 2017. Take advantage of Sanlam’s range of investment products to save on personal tax and get the most out of your investments.

Retirement Annuity

Maximise your tax benefit by investing up to 27.5% of your annual taxable income (limited to R350 000 p/a). Start today from only R300 per month.

Invest online Read more

Tax-free Investments

Invest from as little as R250 per month, and pay zero tax on interest, dividends or capital gains.


Invest online Read more

Get Advice

Minister Pravin Gordhan’s Budget Speech will definitely affect your budget this year. To make the best decisions about your hard-earned money, talk to an experienced Sanlam financial planner today.