March 2015

Dear Readers, We welcome you to our first Newsletter for 2015. Our focus in this edition is the maiden Budget Speech by our new Finance Minister, Mr. Nhlanhla Nene, held on 25 February 2015. The budget came as no surprise: Slow economic growth, decreasing government revenue and increasing government debt has pushed the Minister to announce income tax rate increases for the first time in 20 years. He reassured South Africans that the low income earners would not be affected by the tax increases. Please find a summary of the key points of the Minister's speech further below. We have also included information across the board regarding investments, insurance, immigration and other related topics. As usual, this newsletter can be viewed under https://www.swissfin.co.za/newsletters/swissfin-newsletter-march-2015/ Enjoy the reading, with best regards, Your SwissFin – Team