Budget 2016 - Discussion thread

[akescpt]

So my tax increases but the fat cats on top rate stay the same? Utter utter shyte

 

[OrbitalDawn]

That is an almost 20% increase in the total defense budget ... and I'd bet the bulk goes into public order i.e. policing your own population, which is unruly because you made it so in the first place ...

Taking into account recommendations of the Farlam Commission of Inquiry, an
amount of R598 million is allocated to enhancing capacity of Public Order Policing
units over the MTEF period ahead.

.

 

[Thor]

So no Vat increase?

 

[Ninja'd]

Cooldrink tax!

You still have that microbrewery?

 

[akescpt]

Wtf are we spending more money than we getting in? How much are they gonna mismanage?

 

[MrR]

So taking the speech into account, what's the actual (nominal?) inflation rate?

 

[akescpt]

A tyre tax and a cooldrink tax. They must really be hard up. Who will track the revenue from all these wonderful levies

 

[semaphore]

Downgrade incoming.

 

[JayM]

So my tax increases but the fat cats on top rate stay the same? Utter utter shyte

700K is not "fat cat" territory at all. The fat cats are getting screwed on CGT, property transfers etc, so stop complaining.

 

[OrbitalDawn]

So my tax increases but the fat cats on top rate stay the same? Utter utter shyte

How has your tax increased?

 

[akescpt]

How has your tax increased?

Middle brackets has gone up except the fat cats on top

 

[Thor]

ZAR up 2.15% already.

 

[bro-da]

This is relevant: https://en.wikipedia.org/wiki/Soda_tax

got my back

 

[OrbitalDawn]

Middle brackets has gone up except the fat cats on top

Uh, no. There's R5.5bn allocated to tax relief for low and middle income earners. The brackets moved to compensate for inflation, so you don't pay more. Only the two top brackets (> R550k pa & > R700k pa) didn't move.

There has been no direct personal income tax increase to any of the brackets.

 

[krycor]

Increase transfer duty rates on property sales above R10m from 11% - 13%. Effective for property acquired on or after 01/03/2016

Proposal to increase inclusion rate for capital gains for individuals from 33.3% to 40%, and for #companies from 66.6% to 80%

Effective Capital Gains Tax rate for trusts will increase from 27.3% to 32.8%

So essentially you shouldnt buy property in your name as you incur 7.2% tax

 

[Ockie]

ZAR up 2.15% already.

You mean down? It is falling

 

[bro-da]

So essentially you shouldnt buy property in your name as you incur 7.2% tax

how does that work out?

 

[OrbitalDawn]

So essentially you shouldnt buy property in your name as you incur 7.2% tax

How do you come to that conclusion?

 

[Thor]

You mean down? It is falling

No I mean up.

It was 15.1somthing it's 15.5something now

 

[daveza]

You do realise that's over five years, right? I'm actually of the opinion that national defence should get a big adjustment upwards; the world is becoming a scary place.

Yup 'cos countries are queuing up to invade us.