n Tax Breaks Newsletter - Trevor concentrates on cuts for individuals : budget 2006

Volume 2006, Issue 242
  • ISSN :



Extracted from text ... BUDGET 2006 Trevor concentrates on cuts for individuals By KATHY THERSBY ANOTHER crowd-pleasing Budget delivered last month by Finance Minister Trevor Manuel had the press applauding the minister for his generosity in cutting taxes for individuals. What they didn't take into account was the effect that changes announced in last year's Budget speech, but which only come into operation on 1 March 2006, to the tax deductibility of medical aid contributions and travelling expenses, will have on middle- and higher- income earners. The upshot of these changes on affected taxpayers will make the minister's cuts look much less impressive. ..

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