Tax increases targeted at high earners expected during budget speech

A tax expert says incremental tax increases targeted at high net worth individuals can be expected when the Finance Minister presents his crucial Budget Speech today.

Tough economic times and the current drought serve as the backdrop against which Pravin Gordhan will deliver his speech at Parliament today.

Head of tax at Grant Thornton, Eugene du Plessis, says while increasing taxes may result in short-term gains, it might deter the main drivers of our economy from re-investing.