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The decision to avoid tax increases was informed by the near record tax-to-GDP ratio of 26.3% and a tax buoyancy ratio (tax revenue growth relative to economic growth) which has fallen to 0.93%, Finance Minister Tito Mboweni said in his 2020 Budget address. As a result, Treasury believes tax increases would have been counter-productive.
The new income tax tables
Who pays SA tax
The impact of the new tax proposals
Cyril Ramaphosa: The Audio Biography
Listen to the story of Cyril Ramaphosa's rise to presidential power, narrated by our very own Alec Hogg.