Business, 20.06.2021 15:00 asco0317p34v1s

"The personal income tax brackets will be increased by 5 percent, which is more than inflation. This will provide R2.2 billion in tax relief. Most of that relief will reduce
tax burden on the lower and middle-income households. This means that if you are
eaming above the new tax-free threshold of R87 300. you will have an extra R756 in
your pocket after 1 March 2021”, said Minister Tito Mboweni: 2021 budget speech
in light of the above statement, answer the following research questions in line with
the rubric provided.
QUESTION 1: How much tax revenue was collected by the South African
Revenue Services (SARS) in the 2019/2020 financial year?
Briefly explain the following concepts and give example of each
Wealth tax
Corporate tax
Employees tax
(10)

Answers: 3

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