I paid R200,000 to SARS for saving and investing my money

  • Thread starter Thread starter Daily Investor
  • Start date Start date
Bottom line is that no matter where you go, you will be forced to pay some sort of tax. The problem is that in this country the tax you pay will never be used for anything that uplifts the country and will rather be wasted or stolen by the government itself. Best thing you can do for your children is get them out of the country as soon as you can, their future elsewhere is a thousand times better than anything this country will ever be able to offer anyone. The only reason the superrich are here is because they are still making billions in profit, the day that stops they will be gone in the wind as well.
 
Bad Ballie said:
Bottom line is that no matter where you go, you will be forced to pay some sort of tax. The problem is that in this country the tax you pay will never be used for anything that uplifts the country and will rather be wasted or stolen by the government itself. Best thing you can do for your children is get them out of the country as soon as you can, their future elsewhere is a thousand times better than anything this country will ever be able to offer anyone. The only reason the superrich are here is because they are still making billions in profit, the day that stops they will be gone in the wind as well.
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Regarding the super rich:
They prefer it here because they can get away with dodgy things here. The ANC is easily silenced with what amounts to pocket change. If they had to try that elsewhere the risk of being taxed heavily or put in prison is much greater.
 
Selling off could have happened over a longer period to use the capital gains annual exclusion.
 
supersunbird said:
Makes near R1.2 million, moans about the 15% SARS takes?
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Point being? I would too. Especially. Considering the governments track record of misspending public funds.
Bad Ballie said:
. Best thing you can do for your children is get them out of the country as soon as you can, their future elsewhere is a thousand times better than anything this country will ever be able to offer anyone.
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Nope, just get their money (or future inheritance) out of the country. With a decent income, to insulate yourself from the shitshow that is our government, there really isn’t a better place on earth to live, especially the Western Cape, and some of the other coastal regions.
 
Smiggles said:
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Not in South Africa. We don't have an inheritance tax on beneficiaries. If estate duty applies, it's paid by the deceased's estate before anything is distributed. And as an heir, you generally don't pay tax just because you inherited cash or assets. Your meme is accurate for some countries, but not for SA.
 
Zellephant said:
Point being? I would too. Especially. Considering the governments track record of misspending public funds.

Nope, just get their money (or future inheritance) out of the country. With a decent income, to insulate yourself from the shitshow that is our government, there really isn’t a better place on earth to live, especially the Western Cape, and some of the other coastal regions.
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Western Cape isn't a reason to stay, I'm feeling too old to move and try again, but all my kids and grandkids are out, and I have encouraged them never to come back for anything other than a visit.
 
SauRoNZA said:
How to see someone has no idea what they are talking about.

And like someone said above it could have been sold off over a longer period to make full use of exemptions and become tax free effectively.
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Yeah sure - because one always has loads of time to dispose of assets??? Sometimes you need to liquidate assets to free up cash for another opportunity, or for an unplanned changed in circumstance, or any other host of reasons —- and that is exactly what CGT is designed to take advantage of.

CGT is an idiotic tax implemented by greedy politicians who have no idea how money works - and just love spending other peoples money badly
 
Zellephant said:
Yeah sure - because one always has loads of time to dispose of assets??? Sometimes you need to liquidate assets to free up cash for another opportunity, or for an unplanned changed in circumstance, or any other host of reasons —- and that is exactly what CGT is designed to take advantage of.

CGT is an idiotic tax implemented by greedy politicians who have no idea how money works - and just love spending other peoples money badly
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I mean failure to plan isn’t CGT’s fault.

But it’s irrelevant, the underlying concern is really that DailyInvestor of all named things couldn’t come up with that strategy and had a moan instead.
 
SauRoNZA said:
I mean failure to plan isn’t CGT’s fault.

But it’s irrelevant, the underlying concern is really that DailyInvestor of all named things couldn’t come up with that strategy and had a moan instead.
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Not does it make CGT moral or ethical in any manner.
 
SauRoNZA said:
I mean failure to plan isn’t CGT’s fault.

But it’s irrelevant, the underlying concern is really that DailyInvestor of all named things couldn’t come up with that strategy and had a moan instead.
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It's something that shouldn't exist in the first place. You take all the risk, with money that was already taxed.

If the state wants your money if it works out, by extension you should be compensated if it doesn't...
 
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