SAfm News Bulletins

SABC News and Current Affairs  |  News, ±4 min episodes every 2 hours
Hourly updates of the latest national and international news
22
FEB
7pm
Tax experts have welcomed Finance Minister Pravin Gordhan's budget proposals to increase tax for high income earners. Gordhan announced the new top personal income tax bracket for individuals earning over 1-point-5 million rand as well as a higher tax on dividend payouts. Tax partner at Deloitte Alex Gwala says there were not many surprises in the speech.
22
FEB
7pm
Economists have commended Finance Minister Pravin Gordhan's effort to contain headcounts in the public sector. The number of civil servants has stabilised at around one-point three million staff members. However, compensation of employee continues take a lion's share of total government expenditure at 35 percent.
22
FEB
6pm
The Education Department has again received the biggest slice of the 2017/2018 national budget. It has been allocated 320 billion rand to fund Basic Education, the National Student Financial Aid Scheme and Technical and Vocational Education and Training Colleges. Finance Minister Pravin Gordhan says government recognises the needs of university and TVET students.
22
FEB
5pm
Smokers and drinkers will be coughing up even more for their vices with an increase of between six and ten percent in so-called sin taxes. Smokers will be pay at least one rand more for a pack of 20 cigarettes while the prices of wine and spiritis such as whiskey and brandy will increase by between 30 cents and more than 13 rands per liter. Beer drinkers will pay 11 cents more for a 340 mililiter can while the tax on traditional African beer remains unchanged.
22
FEB
4pm
Finance Minister, Pravin Gordhan has received a standing ovation from most members of Parliament for his 2017 budget. Tabling his one-point 5-6 trillion rand budget, the minister anounced amongs others a higher income rate for the very rich, an increase in social grants and some relief first home owners. Individuals with an annual taxable income of one-point five million rands will now be taxed at 45 percent in a bid to reduce the country's budget deficit. Treasury wants to raise an extra 28 billion rand through taxes this year, and the new top income tax rate is expected to raise more than half of the amount.
22
FEB
6am
Parliament's Joint Committee on Ethics and Members' Interests says it will investigate 14 MP's who failed to disclose their interests. The members have been given seven days to explain themselves.
21
FEB
8pm
Cape Town firefighters are battling an extensive vegetation fire that has broken out on the slopes of Signal Hill. The fire is being fanned by strong winds.
21
FEB
7pm
Emergency services in the Johannesburg Metro have been placed on standby as heavy rain persists. Flashfloods and road flooding have already been reported in low lying areas.
21
FEB
6pm
ANC MP Makhosi Khoza has confirmed she is being moved out of Parliament's Standing Committee on Finance, saying the reason is unclear. There is speculation that her departure is intended to make way for former Eskom CEO Brian Molefe. She has referred journalists to ANC chief whip Jackson Mthembu. Khoza says a letter informing her of her new role in the portfolio committee on public service is dated February 8, but she only received it last week. Opposition parties have cried foul over Molefe's deployment to Parliament, saying he is being groomed for the finance ministry.
21
FEB
5pm
ANC MP Makhosi Khoza has confirmed she is being moved out of Parliament's Standing Committee on Finance, saying the reason is unclear. There is speculation that her departure is intended to make way for former Eskom CEO Brian Molefe. She has referred journalists to ANC chief whip Jackson Mthembu. Khoza says a letter informing her of her new role in the portfolio committee on public service is dated February 8, but she only received it last week. Opposition parties have cried foul over Molefe's deployment to Parliament, saying he is being groomed for the finance ministry.
20
FEB
7pm
South Africa's second Stock Exchange - ZAR X - has been launched. The Financial Service's Board granted the new stock exchange a licence last year amid complaints from the Johannesburg Stock Exchange and economists.
20
FEB
6pm
US banking giant Citibank has agreed to pay an administrative penalty of just under 70 million rand for being part of a forex trading cartel. The Competition Commission has accused 17 banks - three of them South African - of colluding to rig the Rand. Barclays is also said to be working with the commission.