n IMFO : Official Journal of the Institute of Municipal Finance Officers - Impact on 2006 Budget Speech on local government : budget




Extracted from text ... IMFO ? Fall 2006 18 Implementation of the proposals contained in the 2006 Budget Speech will have a significant financial impact on municipalities and as will be seen below, this impact may in certain circumstances even have a retrospective effect. The issues discussed in this article include the following: ? The VAT treatment of appropriations and grants received from provincial and national government; ? The zero-rating of municipal property rates and the impact thereof on municipalities; ? RSC levy reform. The VAT treatment of appropriations and grants: The legislator has recently been making a conscious effort to clarify any ..


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