#FiveThingsYouNeedToKnow: South African Airways receives R1 billion allocation from National Budget
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#FiveThingsYouNeedToKnow: South African Airways receives R1 billion allocation from National Budget

Updated | By Darren, Keri and Sky

Businesses will be able to claim as much as 125% in tax deductions, No major tax proposals and much more.

Finance Minister Enoch Godongwana has allocated R1 billion to SAA in his Budget 2023, but this is not enough to settle all the airline's historic debt.
Finance Minister Enoch Godongwana has allocated R1 billion to SAA in his Budget 2023, but this is not enough to settle all the airline's historic debt. Image: David Thomas

Good Mauling, KZN!

Here are five things you need to know as you wake up this Thursday morning...

Read more: #FiveThingsYouNeedToKnow: Paul Herbst of Medi Response has passed away

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1. 

Businesses will be able to claim as much as 125% in tax deductions on any renewable energy project, and households can claim back 25% on solar panels.

Read more: EU imposes new Myanmar sanctions two years after coup

The treasury has proposed that Eskom receive R254 billion in debt relief over the next three years, Finance Minister Enoch Godongwana announced on Wednesday.
The treasury has proposed that Eskom receive R254 billion in debt relief over the next three years, Finance Minister Enoch Godongwana announced on Wednesday. Image: Waldo Swiegers

2. 

South African Airways (SAA) has received a R1 billion allocation from National Budget 2023 and future financial injections have not been ruled out.

Read more: Scopa hears SAA owes AG 'at least three years of financial statements'

saa
KAREN BLEIER / AFP

3. 

The Treasury is proposing a total debt-relief arrangement for Eskom of R254 billion.

Read more: Finance minister gives South Africans a tax breather

Enoch Godongwana
GCIS

4. 

There were no major tax proposals – that also means no changes to VAT, and no changes to the fuel levy.

Read more: Taxes, govt spending to take centre stage in Godongwana budget – economist

The 2023 Budget Review did, however, provide for tax relief of R13 billion to support the clean energy transition, increase electricity supply and limit the impact of consistently high fuel prices
No major tax proposals amid low-growth economy. Image: Henk Kruger

5. 

The government has proposed to increase the excise duties associated with alcohol and tobacco to 4.9% – in line with expected inflation.

Read more: Santaco urges lower booze consumption for safer roads

Make sure to catch Five Things You Need To Know As You Wake Up, Monday to Friday at 06:20.

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Main image attribution: David Thomas

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