Budget 2016 Tax Proposals. A short summary of some of the tax proposals announced by the Minister of Finance, Pravin Gordhan in his budget on 24 February 2016. As far as income tax is concerned, these proposals are applicable to the 2017 tax year, i.e. year ending 28 February 2017 for natural persons. Amounts shown in brackets refer to the previous year. Please note that this is just a summary as proposed made by the Minister and may differ from the final legislation. Personal Tax: Individ...