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Income Imapct: How The 2024 Budget Speech Affects Your Pocket

Income Imapct: How The 2024 Budget Speech Affects Your Pocket

There won’t be any relief for personal income-taxpayers In the upcoming 2024/25 tax year. The Personal Income Tax (PIT) table and tax rebates remain unchanged, ignoring inflation. This lack of adjustment means that salary increases will be a push up into a higher tax bracket with increased tax rates. Medical tax credits will also remain unchanged, with no mention of phasing them out or introducing new taxes for National Health Insurance (NHI).

BPESA CEO, Reshni Singh

BPESA CEO, Reshni Singh

March is important in South Africa as it honours Human Rights. For Reshni Singh, a fervent supporter of women’s opportunities in the Global Business Services Incentive (GBS) sector, it is also her one-year anniversary as BPESA’s CEO. With 21 years of experience in roles supporting South Africa’s economic growth, especially at the Department of Trade, Industry, and Competition (dtic), she managed the highly praised GBS incentives programme. In an interview, Reshni reflected on the industry’s significant progress.

merSETA CFO: Ncedisa Mpande

merSETA CFO: Ncedisa Mpande

During her tenure at The Manufacturing, Engineering and Related Services Sector Education and Training Authority (merSETA), Ncedisa Mpande has ensured that the organisation formed strong partnerships with various provincial offices across the country, one of which has resulted in the training of 6000 young people as solar technicians. It is also through her leadership that the merSETA forged partnerships with various higher education institutions in the country, resulting in the clearing of historical debt for 30 000 students, allowing them to graduate and gain access to the job market. She also ensured that the merSETA partnered with NSFAS, resulting in the funding of 300 students from the “missing middle” to study at various public universities across South Africa.

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As a group, this audience presides over a procurement budget of more than R150 billion per annum and their requirement list includes both products and services from the corporate sector.

Their procurement decisions range from:

  • RAcquiring Technology Solutions
  • RLegal Services
  • RPerformance Tools
  • RAudit Services
  • RCommunication Solutions
  • RBuildings and Facilities
  • REnvironmental Products
  • RWaste-Management Solutions

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