Aquila Online

My Wish List For Budget 2005

// February 23rd, 2005 // General // 1,229 views

It’s that time of year again when Minister Trevor Manuel will be delivering his annual budget speech in parliament and all eyes, ears and pockets will be anxiously waiting to see if we are going to receive the tax cuts we’re expecting.

My wish list for the Minister is:

- A reduction in the personal income tax rate
- Tax free retirement savings
- Lowering of import duties for Dvd’s, CD’s and books.
- Abolishment of capital gains tax

I know some of these suggestions may not make a lot of sense in the bigger scheme of things, e.g. a reduction in the personal income tax rate will probably stimulate the economy too much and then Mr Tito Mboweni, Reserve Bank Governor will have to step in, but still, it would be nice to have a bit of a tax break. Luckily for me, I’m not a tax consultant or financial advisor so I can only speculate.

Alas, we will see at 14:00 today what the Minister has up his sleeve.