South African Budget 2016/17 – 2016 BUDGET HIGHLIGHTS

Budget 2016 final• Personal income tax relief of R5.65 billion

• Capital gains tax inclusion rate for individuals, special trusts and
insurers’ individual policyholder funds increases from 33.3% to 40%,
and for other taxpayers from 66.6% to 80%

• Assets transferred through a loan to a trust are to be included in the
estate of the founder at death and interest-free loans to trusts are to
be treated as donations

• General fuel levy increases by 30 cents per litre on 6 April 2016

• Excise duties on alcoholic beverages increase by between 6.7% and
8.5%

• From 1 April 2016 the plastic bag levy is to increase from 6 cents to
8 cents per bag and the incandescent globe tax will Increase from
R4 to R6 per globe

• A tyre levy at R2.30 per kilogram is to be introduced on 1 October
2016 and a tax on sugar-sweetened beverages on 1 April 2017.

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