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Finance Standing Committee
Taxation Laws Amendment & Tax Administration Laws Amendment Bill: briefing
24 Aug 2016
National Treasury briefed the Committee on the contents of the 2016 Taxation Laws Amendment Bill and Tax Administration Laws Amendment Bill. The contents highlighted included:
NCOP Finance
Financial Sector Regulation Bill [B34-2015]: National Treasury briefing
24 Aug 2016
The National Treasury briefed the Committee on the Twin Peaks: The Financial Sector Regulation (FSR) Bill. It noted that the shift to twin peaks started in 2011, when “a safer financial sector to serve South African better” policy paper was approved by the Cabinet. In 2013, the road map of ...
NCOP Finance
KwaZulu-Natal on its 2015/16 unaudited Annual Report; Land Bank board appointments: deliberations
16 Aug 2016
The National Treasury made a presentation to the Committee on the provincial budgets and expenditure for KwaZulu-Natal (KZN) for the third and fourth quarters of the 2015/16 financial year. Newly identified schools and clinics had put pressure on the Public Works budget, as they had not been budgeted for. Due ...
NCOP Finance
Western Cape, Mpumalanga & Free State Provincial Treasuries on its 2015/16 performance, in presence of MECs
25 May 2016
The National Treasury firstly presented a summary of the third and fourth quarter expenditure for the provinces of Free State, Western Cape and Mpumalanga. However, it was emphasised that these figures had not yet been audited so that there might still be some adjustments. Free State spent 99% of the ...
NCOP Appropriations
Appropriation Bill: briefing & adoption; Committee Report on Municipal Infrastructure Grant rollovers
24 May 2016
The National Treasury noted that expenditure ceilings for the two outer years of the 2016 Medium Term Expenditure Framework (MTEF) period were reduced. Expenditure baselines were growing at the rate of 7.5% over the 2016 MTEF period. There was a drawdown on the contingency reserve within the expenditure ceiling. The ...
NCOP Finance
Financial Intelligence Centre Amendment Bill [B33-15]: briefing ; North West Provincial Treasury on its 3rd & 4th 2015/16 Quarter performance
20 May 2016
National Treasury gave the briefing on the Financial Intelligence Amendment Bill. The rationale for the Amendment Bill was to address challenges related to money laundering and corruption and to comply with the United Nations Convention against Corruption. Members felt that the Bill was needed but expressed their concern about its ...
NCOP Finance
Eastern Cape, Limpopo & Northern Cape Provincial Treasuries on their 3rd & 4th Quarter 2015/16 performance
18 May 2016
National Treasury presented the aggregated budgets and expenditure for the provinces of Limpopo, Eastern Cape and the Northern Cape, with a focus on overspending and underspending. A summary of key conclusions and financial risks over the 2016 MTEF showed that the Eastern Cape and Limpopo had tabled surplus budgets for ...
NCOP Appropriations
Municipal Infrastructure Grant rollovers for the past 5 financial years: hearings with National Treasury
17 May 2016
The National Treasury briefed the Committee on the Municipal Infrastructure Grant (MIG) roll-overs for the past five financial years (2011-2016). It was highlighted that the Eastern Cape, KwaZulu-Natal and Limpopo had received the highest MIG allocations in the 2010/11 to 2014/15 financial years, while Gauteng, Northern Cape and Western Cape ...
NCOP Finance
Gauteng Provincial Treasury on its Quarter 3 & 4 performance
11 May 2016
The National Treasury and Gauteng Provincial Treasury briefed the position on the general spending, and the spending of individual provincial departments in Gauteng in the third and fourth quarters of the 2015/16 financial years. It was noted that the Gauteng Provincial Government (GPG) underspent by R2.2 billion although over spending ...
NCOP Appropriations
Western Cape Municipal Infrastructure Grant (MIG) performance
10 May 2016
The Committee was taken through the performance record of Municipal Infrastructure Grant (MIG) expenditure by the Western Cape provincial government for the preceding five years. Situational analysis for the second quarter indicated that 6 municipalities were above 50%; 11 were between 40 and 50%, 4 were between 30 and 40%, ...