Page 2 - Business Sense

HIGHLIGHTS FROM 2019 BUDGET SPEECH

inister of Finance, Tito Key take outs from the 2019 additional R3.5 billion over the R8 billion in 2021/22
Mboweni presented Budget Speech: next 3 years to improve non- ■ Allocation to Jobs Fund to rise
Mthe National Budget, toll roads. to R1.1 billion over three years
Wednesday 20 February 2019. ■ Gross debt is expected to ■ R1.8 billion is allocated for the
stabilise at 60.2 per cent of GDP ■ Old age grant rises R80, foster
Minister Mboweni confirmed in 2023/24. implementation of 262 priority care up R40 to R1 000, and KWAZULU-NATAL BUSINESS
that his Budget Speech aligns ■ Real growth in consolidated land-reform projects over the child support grant to R420 in CHAMBERS COUNCIL :
with President Cyril Ramaphosa’s non-interest expenditure will next three years. R3.7 billion April and R430 in October
vision for the country. “It lays average 2 per cent over the next is set aside to assist emerging ■ R481.6 million is allocated to Chairperson: Judith Nzimande
out a series of interventions that three years. farmers seeking to acquire the Small Enterprise Secretariat: Lihle Msweli
will put South Africa on a bold ■ Tax revenue for 2018/19 will land to farm. The Land Bank Development Agency to T: +27(0)35 797 1807
new path,” the minister said in undershoot the mini-budget will support smallholders, and expand the small business M: +27 (0)83 571 0486
his address. estimate by R15.4 billion, leverage partnerships with incubation programme. Address: ZCBF Community Park,
other financial institutions. It
In the 2019 State of the Nation half of this due to higher than aims to disburse R3 billion in He also confirmed that Gate 5, Business Community
Address, President Ramaphosa expected vat refunds. the next fiscal year government is set to allocate R5,8tn Building 1st Floor, Guldengracht
set out an ambitious agenda for ■ There will be no change to ■ Older public servants may over the next three years; R1,2tn Street, Richards Bay, KwaZulu-
our nation. personal income tax rates or retire early, leading to savings will go towards education, R717bn Natal, South Africa
brackets but slight adjustment to public health and approximately Email: LMsweli@kbcc.co.za
He said his government will to rebates (revenue of of R4.8 billion in 2019/20; Website: www.kznchamber.co.za
undertake the following tasks: R12.8 billion to be raised this R7.5 billion in 2020/21 and R900bn to social development. n
1. Accelerate inclusive economic way; collection by stealth).
growth and create jobs. ■ Employment tax incentive of
2. Improving the education system up to R1 000 can be claimed
and develop the skills that we for employees earning up
need now and into the future. to R4 500 p/m (previously
3. Improve the conditions of life R4 000).
for all South Africans, ■ Carbon tax of 9c per litre on
especially the poor. petrol and 10c per litre on 0 1 The city of
Durban (eThekwini
4. To step up the fight against diesel effective 5 June. 0 0 1 Municipality) is South
corruption and state capture. ■ New Sars commissioner to be 11 0 11 Africa’s second most
important economic
5. Strengthen the capacity of the appointed soon. 01 region
state to address the needs of the ■ The South African National 1 1
Extensive fi rst-world
people. Roads Agency is allocated an 1 0 1 road, rail, sea and air
0
11
0 11 1 0
ASSISTANCE FOR LABOUR 01 01
00
RELATIONS PROCESSES 0 001 1
11
0
11 01
00
usiness Unity South including the recent amendments 1 0
Africa (BUSA) and to Employment Law that factor 01
Bthe Commission for the National Minimum Wage 1
Conciliation Mediation and Act, as well as contract templates,
Arbitration (CCMA) have information sheets and guides 001
collaborated to launch a free-to- on labour law requirements. 1 0 11
use Web Tool dedicated to help Small business owners can utilise 0 3 1 01
smaller businesses with labour the user-friendly Web Tool to 0 0 11 00
Rated in top 5
relations processes and matters. source information about: how to 11 ‘Quality of Living’
1 cities in Africa and
The joint initiative is one of recruit; how to manage employees Dube 1 0 Middle East by
the flagship projects outlined and build sound workplace TradePort 1 Mercer Consulting in
and King
2015
in the Presidential Jobs Summit relationships; how to end the Shaka 0 11
Framework Agreement and has employment relationship in a fair CITY THAT’S International Named one of the
Airport - 60-
gone live following intensive manner; and much more. GEARED year Master 1 New 7 Wonders Cities
by the Swiss-based
Plan - driving
testing and content mapping. The Web Tool project falls in line FOR GROWTH growth of Foundation in 2014
New 7 Wonders
aerotropolis,
The project germinated from with the National Development or airport
city
a BUSA study conducted in Plan’s (NDP’s) ambitious forecast 01 1
2015/16, which showed that small that no fewer than 90% of new jobs A true smart city, Durban, KZN, South Africa seamlessly 0 01 00
combines an innovative business environment with an
businesses struggled with labour will be created by small businesses. exciting, contemporary lifestyle. 00 1
relations and that this was a key However, red tape and significant Connecting continents, here you will fi nd Africa’s busiest 1
port, the top ranking conferencing city and the home to
impediment to their formalisation bureaucratic hurdles have been the continent’s very fi rst Aerotropolis. Boasting world-class
and willingness to employ. Also, cited for the high failure rate of infrastructure and manufacturing and industrial concentration
that is constantly evolving, isn’t it time to join this progressive
of concern – and a key spark small businesses in South Africa, society rich in investment opportunities?
to conceptualising the Web as well as the country’s low levels …We can help you make it happen, now.
Tool – was that CCMA statistics of grassroots entrepreneurial
reveal that an estimated 80% of activities. BUSA and the CCMA
Tel: +27 31 311 4227
the institution’s dispute cases believe this Web Tool will go a Email: invest@durban.gov.za
originate from small businesses. long way in unburdening small web: invest.durban
The joint BUSA-CCMA Web businesses from having to navigate
Tool has up-to-date information through regulatory hoops. n
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