Budget 2018

[f2wohf]

Am I going crazy or is someone earning 1.6m paying a lower effective rate than last year. Small diff but still wth

http://www.sars.gov.za/Tax-Rates/Income-Tax/Pages/Rates of Tax for Individuals.aspx

From the 555000 bracket, you actually pay less.

Very good outcome, thanks Gigaba!

 

[SauRoNZA]

We were given a heads up that an increase is coming, so we were adequately prepared. Most companies dealing with banks should've known.
Besides, not having this sort of thing as a configurable value is amateur as hell.

It gets a bit more tricky at retail though where the psychological barrier of R99 will require a bit more thought and repricing of everything.

Not to mention those cans of cokes and the like that will need a new size vs price equation.

 

[f2wohf]

Not to mention those cans of cokes and the like that will need a new size vs price equation.

Don't worry about these cans. Can't say why or how but just don't.

 

[SauRoNZA]

Don't worry about these cans. Can't say why or how but just don't.

Oh I'm not worried.

But the buggers will surely downsize them and similar goods to keep the price the same.

 

[f2wohf]

Oh I'm not worried.

But the buggers will surely downsize them and similar goods to keep the price the same.

Rather the opposite.

 

[NarrowBandFtw]

So between VAT and fuel levy, my total increase in tax paid will amount to around R300 per month. Was expecting much worse.

That's some badass crystal ball you've got there if you can reliably calculate the impact that increased transport costs will have throughout the supply chain in a country where road transport is the primary option.

By the time goods reach the shelves the price will be a hell of a lot higher than just that 1% extra VAT.

 

[Rouxenator]

In RSA taxes are named after what they are collected for and not for what they are used... as they all go down the same drain

Ah yes, that green, yellow and black drain.

 

[SaiyanZ]

Am I going crazy or is someone earning 1.6m paying a lower effective rate than last year. Small diff but still wth

http://www.sars.gov.za/Tax-Rates/Income-Tax/Pages/Rates of Tax for Individuals.aspx

People will be paying more tax because the tax brackets are supposed to increase with inflation but they haven't. So when everyone gets their increases they will slip into higher paying tax brackets much more easily.

Whilst it looks better, on average people are going to be paying a higher percentage of their CTC this coming year as tax.

If you are already above R1.5m then you pay around the same as last year but the R1.5m+ bracket was only introduced last year which screwed you heavily.

 

[lucifir]

So we as citizens must tighten our belts because of the ANC cadres stealing and yet they don't make any significant cuts.
does not seem like JZ was the only problem ... time for the ANC to go.
at least the raising of VAT should errode their support base as they also now have to pay for their cadres

 

[Garson007]

<quote>A higher estate duty tax rate of 25 per cent for estates greater than R30 million,</quote>

Man, do they have to do this? I am getting really really angry now

Can easily result in the loss of land.

 

[TelkomUseless]

So we as citizens must tighten our belts because of the ANC cadres stealing and yet they don't make any significant cuts.
does not seem like JZ was the only problem ... time for the ANC to go.

Funny hey.. we get shafted while Cadres steal the country blind... and ANC voters keep voting them in.

 

[Rouxenator]

Funny hey.. we get shafted while Cadres steal the country blind... and ANC voters keep voting them in.

Because they don't pay the same tax we do.

 

[Sinbad]

Because they don't pay the same tax we do.

Mukelani
‏ @MukelaniDimba
5h5 hours ago

Dear Analysts,
"Poor people" do not:
1. Ride pilchards to school
2. Wear fruit & vegetables
3. Use eggs as soap or brown bread as sanitary pads
4. Use edible legumes & dried beans as study aids
5. Or use milie rice as data to communicate with loved ones
#ZeroRated se ma se!

 

[TelkomUseless]

Because they don't pay the same tax we do.

yip!

 

[NarrowBandFtw]

Mukelani
‏ @MukelaniDimba
5h5 hours ago

Dear Analysts,
"Poor people" do not:
1. Ride pilchards to school
2. Wear fruit & vegetables
3. Use eggs as soap or brown bread as sanitary pads
4. Use edible legumes & dried beans as study aids
5. Or use milie rice as data to communicate with loved ones
#ZeroRated se ma se!

:crylaugh:

 

[Sideshow Bob]

Because they don't pay the same tax we do.

None of the ANC voters pay the same tax you do? Is there separate income tax bracket for them? I am confused really.

 

[Brontosaurus]

at least the raising of VAT should errode their support base as they also now have to pay for their cadres

Dude please send me the number of your dealer, cause I REALLY want some of that stuff you're smoking...

 

[krycor]

What most haven’t picked up is that there are changes for RA/Pension..

African Investment 5% now 10%
Global Investment 25% now 30%

So 10% more of you retirement saving you can invest elsewhere..

 

[Former member 61586]

None of the ANC voters pay the same tax you do? Is there separate income tax bracket for them? I am confused really.

Technically, he is correct. Majority are poor, thus do not pay personal income tax. Not ALL though.

 

[TelkomUseless]

What most haven’t picked up is that there are changes for RA/Pension..

African Investment 5% now 10%
Global Investment 25% now 30%

So 10% more of you retirement saving you can invest elsewhere..

lol.. with what money ? These mofos are taxing us to death. My "savings"/retirement money is disappearing into the drain called "taxes" aka slush fund for ANC Cadres and Freeloaders.