Godongwana’s 2026 Budget balances middle-class relief with fiscal reality
AFTER LAST year’s “third-time lucky” Budget, many predicted doom and gloom this year. There was talk of the need for an additional R20 billion of tax hikes – whether in the form of the much-maligned VAT increase proposal rearing its ugly head, or direct personal income tax hikes.
That didn’t happen. In presenting his 2026 Budget, Finance Minister Enoch Godongwana has attempted to strike a careful balance of avoiding major tax hikes while still raising revenue and stabilising the country’s finances. While it is far from being perfect, it does contain some welcome reasons for South African taxpayers to smile.
Here is a summary of how this Budget affects the group that ultimately contributes by far the largest share of South Africa’s tax revenues (whether through income tax, VAT, or other taxes and levies)—individual taxpayers.
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