Budget 2018

Why just not implement a sliding scale for the free higher education? I mean this R350,000 household threshold opens door for a lot of abuse, like underdeclaring income and not registering marriages... And lets also look at other developing countries where such practices have been a great "success".
 
Zukat said:
Why just not implement a sliding scale for the free higher education? I mean this R350,000 household threshold opens door for a lot of abuse, like underdeclaring income and not registering marriages... And lets also look at other developing countries where such practices have been a great "success".
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**** free higher education. Privileges should be paid for. Make loans, and then repay that loan when you're employed and your salary reaches a threshold.

Rather fix basic education. No point getting free university entrance if you can't cope with the academic standard.
 
I don't know if people realize this but businesses in this country will be losing billions in switching over to 15% VAT.
I can't even begin to describe the headaches I.T. and devs will face in changing VAT on many system back-ends etc....
Ouch.
 
RaptorSA said:
I don't know if people realize this but businesses in this country will be losing billions in switching over to 15% VAT.
I can't even begin to describe the headaches I.T. and devs will face in changing VAT on many system back-ends etc....
Ouch.
Click to expand...

That's their own school fees. Only idiots hardcode variable values.
 
Sinbad said:
**** free higher education. Privileges should be paid for. Make loans, and then repay that loan when you're employed and your salary reaches a threshold.

Rather fix basic education. No point getting free university entrance if you can't cope with the academic standard.
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Agree with you- that would have been more rational solution, just like cancelling this business model of having babies for social grants drain, but this is not the World we are living in, so Im commenting on what has already been tabled.
 
RaptorSA said:
I don't know if people realize this but businesses in this country will be losing billions in switching over to 15% VAT.
I can't even begin to describe the headaches I.T. and devs will face in changing VAT on many system back-ends etc....
Ouch.
Click to expand...

Billions, really?

How has every european country that updated VAT in the past 10 years done? How Malaysia did with the GST? How are doing petrol stations with the petrol price and levies going up and down.

If devs forgot to make an updateable VAT rate, they are really insanely dumb and need to work extra hours for free to make up for it.
 
f2wohf said:
Billions, really?

How has every european country that updated VAT in the past 10 years done? How Malaysia did with the GST? How are doing petrol stations with the petrol price and levies going up and down.

If devs forgot to make an updateable VAT rate, they are really insanely dumb and need to work extra hours for free to make up for it.
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Easy, those europeans made it possible to change the VAT rate at a moments notice. Any system built where the VAT rate is unchainable was built, either by devs who are lazy or dumb (in thinking the VAT rate would never change)
 
RaptorSA said:
I don't know if people realize this but businesses in this country will be losing billions in switching over to 15% VAT.
I can't even begin to describe the headaches I.T. and devs will face in changing VAT on many system back-ends etc....
Ouch.
Click to expand...
You're not supposed to hardcode sht like that :p

Ultimately the end consumer pays VAT...just flows through the supply chain
 
RaptorSA said:
I don't know if people realize this but businesses in this country will be losing billions in switching over to 15% VAT.
I can't even begin to describe the headaches I.T. and devs will face in changing VAT on many system back-ends etc....
Ouch.
Click to expand...

Shame poor them, as others have said, you want to hard code stuff like that you must deal with the pain.
 
Tander said:
Easy, those europeans made it possible to change the VAT rate at a moments notice. Any system built where the VAT rate is unchainable was built, either by devs who are lazy or dumb (in thinking the VAT rate would never change)
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I should start doing PDF contract templates instead of word. Will reach the same result. :crylaugh:
 
Ockie said:
OK....so he just wiped out any petrol price decreases we might have had in the coming year thanks to a stronger Rand. /sigh
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The forex gain is anyway already offset by the oil price increase.
 
f2wohf said:
Billions, really?

How has every european country that updated VAT in the past 10 years done? How Malaysia did with the GST? How are doing petrol stations with the petrol price and levies going up and down.

If devs forgot to make an updateable VAT rate, they are really insanely dumb and need to work extra hours for free to make up for it.
Click to expand...

You do know tax was last changed in this country in '93 right? So there are going to be a lot of legacy systems with inherited code.....
 
So to summarise:
VAT rate to increase from 14% to 15%.

Zero-rating of basic food items will limit impact on poorest households.

Brown bread and whole wheat brown bread will be zero-rated. Products such as rye or low GI bread will not be zero-rated.

Personal income tax rebates & brackets to increase below inflation, see table below.

No adjustments to the top four income tax brackets, and below inflation adjustments to the bottom three brackets.

Ad-valorem excise duty rate on luxury goods to increase from 7% to 9%.

Effective 1 April 2018, the maximum ad valorem excise duty for motor vehicles will increase from 25% to 30%.

Classification of cellular telephones will be updated to include “smartphones” to ensure they attract ad valorem excise duties.

Government will consult on a proposal to replace the flat rate for cellphones with a progressive rate structure based on the value of the phone.

From March 1 a higher estate duty tax rate of 25% for estates greater than R30mn will be introduced. To limit the staggering of donations to avoid the higher estate duty rate, any donations above R30mn in one tax year will also be taxed at 25%.

52c/l increase in fuel levies: – comprising 22c/l for general fuel levy & 30c/l in Road Accident Fund levy.

Alcohol & tobacco excise duties to increase between 6 & 10%.

Carbon Tax Bill expected to be enacted before the end of 2018. Tax to be implemented from 1 January 2019.

Plastic bag levy to be increased by 50% to 12 cents per bag, effective 1 April 2018.

From 1 April, environmental levy on incandescent light bulbs will increase from R6 to R8 to incentivise more energy-efficient behaviour.

Vehicle emissions tax will be increased to R110 for every gram above 120 gCO2/km for passenger vehicles and R150 for every gram above 175 gCO2/km for double cab vehicles, effective 1 April 2018.

Government will publish a discussion document outlining design options for the proposed acid mine drainage levy.

Health promotion levy, which taxes sugary beverages, will be implemented from 1 April 2018.

Over the next three years, below-inflation increases in medical tax credits will help government to fund the rollout of national health insurance. Government will increase the medical tax credit from R303 to R310 per month for the first two beneficiaries, and from R204 to R209 per month for the remaining beneficiaries. The medical tax credit will be reviewed after the Davis Tax Committee presents its recommendations.
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At least there's some good news for the middle class for once, no change in income tax for the top 4 brackets. Income tax increased for the bottom 4 brackets (at below inflation)...
 
52c/l increase in fuel levies: – comprising 22c/l for general fuel levy & 30c/l in Road Accident Fund levy.
This should go towards building and maintaining roads - so I expect to see a more of that happening

Plastic bag levy to be increased by 50% to 12 cents per bag, effective 1 April 2018.
I am still unclear how this money is used in terms of plastic bags after they are discarded by the consumer who paid the tax?

Vehicle emissions tax will be increased to R110 for every gram above 120 gCO2/km for passenger vehicles and R150 for every gram above 175 gCO2/km for double cab vehicles, effective 1 April 2018.
How will this tax be used to address the issue of CO2 pollution? Can we expect subsidies on electric cars?

Health promotion levy, which taxes sugary beverages, will be implemented from 1 April 2018.
Will this money go towards treating diabetic patients?
 
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