Noluthando Mthonti-Mlambo speaks to the Group CFO at African Bank who gives reaction to Minister Godongwana's Budget speech. The minister said that the budget proposes tax increases totalling R15 billion for the 2024/25 fiscal year to alleviate “immediate pressures” on the budget. As part of this, there are no Inflation adjustments to the personal income tax tables and medical tax credits are provided for the year. This means that medical tax rebates will be the same as 2023 at R364 for members, R364 for the first dependent and R246 for every subsequent dependent.

<p>Noluthando Mthonti-Mlambo speaks to the Group CFO at African Bank who gives reaction to Minister Godongwana's <a dir="ltr" href="https://twitter.com/hashtag/Budget2024?src=hashtag_click">Budget</a> speech. The minister said that the budget proposes tax increases totalling R15 billion for the 2024/25 fiscal year to alleviate “immediate pressures” on the budget. As part of this, there are no Inflation adjustments to the personal income tax tables and medical tax credits are provided for the year. This means that medical tax rebates will be the same as 2023 at R364 for members, R364 for the first dependent and R246 for every subsequent dependent.</p>

POWER Business is on every weeknight, offering a wrap-up of the day’s business news, analysis of market trends and advice on all money-related matters. Noluthando Mthonti-Mlambo interviews leading CEOs whose businesses are making headlines. POWER Business also has a human interest focus, unpacking the nature of the economy and empowerment more broadly.

<p>POWER Business is on every weeknight, offering a wrap-up of the day’s business news, analysis of market trends and advice on all money-related matters. Noluthando Mthonti-Mlambo interviews leading CEOs whose businesses are making headlines. POWER Business also has a human interest focus, unpacking the nature of the economy and empowerment more broadly.</p>

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