Don’t hold your breath!

The drop was first announced in the 2021 National budget and again in that of 2022.

But, guess what, it only comes into effect for companies whose financial year commences on or after 1 April 2022.

And since most companies have a 28 February year end, that meant that from the first announcement in February 2021, the benefit will only be felt in September 2024, when the Feb 2024 taxes are due for payment.

That’s three and a half years later. And we’re supposed to get excited?