REVENUE: The budgeted revenue for 2008/2009 is up to R650bn from R580bn in 2007/2008.
EXPENDITURE: Total expenditure will rise to R632bn in 2008/2009 from R560bn in 2007/2008.
BUDGET BALANCE: The budget over the next three years is set to stay in surplus after it hit its highest level ever - 1% of GDP in 2007/2008.
DIVISION OF REVENUE: Provinces get R238bn of revenue in 2008/2009 (up from R205bn), local governments R42bn (R37bn) and national departments R274bn (R247bn).
ECONOMY: Treasury lowers its economic growth forecast this year to 4% and slices half a percentage point each from growth expectations for 2009 and 2010.
PERSONAL TAX: A surprise relief of R7,7bn, largely by shifting tax brackets higher. The minimum tax threshold increases from R43 000 to R46 000. The interest earnings exemption is raised to R19 000 for those under 65 and to R27 500 for those over 65.
CORPORATE TAX: The corporate tax rate is lowered from 29% to 28%, cutting R5bn off next year's revenue estimate.
CURRENCY FUTURES: Companies and institutions will now be permitted to trade the derivatives to hedge or speculate on the value of the rand.
FOREIGN EXCHANGE: Retirement funds' offshore allowances are raised from 15% to 20% of their total assets. Unit trusts' allowances are increased from 25% to 30%. This opens the door for R133bn to be invested offshore, according to JP Morgan.
EXCHANGE CONTROL: The Reserve Bank department dealing with forex controls is renamed financial surveillance. Institutions will now only have to report quarterly on their forex positions instead of requiring pre-approval.
ELECTRICITY LEVY: A 2c/kWh levy will be imposed on the sale of power generated from non renewable sources (mostly coal). This will raise R2bn in 2008/2009 and R4bn in 2009/2010.
SIN TAXES: Cigarettes up 66c/pack; beer up 5c/can; wine 12c/bottle; and whisky 217c/bottle.
SMALL BUSINESS: The threshold for corporate Vat registration is raised from a turnover of R300 000/year to R1m. A turnover tax will be introduced for companies with revenue of less than R1m in place of normal company income tax.
SOCIAL GRANTS: A total of 12,4m people will receive social grants this year. The old-age grant is raised from R870 to R940/month; child support is raised from R200 to R220/month. Children aged 15 are now eligible, from an age limit of 14 previously.
RETIREMENT: The age at which men can receive a state old-age pension will be gradually lowered from 65 at present to 60 by 2011.
ESKOM: Government will provide R60bn in debt support for Eskom over the next five years, but a direct grant to the power utility is ruled out.
INFRASTRUCTURE: Infrastructure spending by national and provincial governments will average R60bn over the next three years, up from R48bn in 2007/2008.
EDUCATION: The education budget escalates from R106bn in 2007/2008 to R121bn in 2008/2009 with R5bn added to the school infrastructure and school nutrition programmes.
CRIMINAL JUSTICE: The security services (police, prisons and justice) are set to receive a combined R65bn in 2008/2009 up from R58bn this year and R8bn more than budgeted for in the medium-term expenditure framework.
