Budget Speech 2020

[JayM]

Your pension money and increased taxes for luxury items (houses, vehicles etc).

Joke's on them. I have no pension!

 

[R13...]

The comment that if they use pensions it must be all pensions is a bit of an admission that they don't think that money can be recovered in returns.

If they were so confident they'd have used government money because the prospects for returns would be so good. ****ers.

 

[Fulcrum29]

Though I don't agree with the many directions the ANC wants to take this country in I quite like Mboweni and every time I see him address people you can see that he is genuinely engaged.

 

[dualmeister]

Seems too good to be true.
There is a catch somewhere

 

[DreamKing]

state bank .....

viva anc ............ viva ...........

 

[JayM]

Phasing out formal emigration?

 

[SykomantiS]

Phasing out formal emigration?

Was wondering about that as well. What does it mean?

 

[Priapus]

So where are the people who were saying we were going to see tax increases and VAT? they were dead sure about it?
****ing pessimist.

 

[Nom Chompsky]

Can you pls explain to a lay person?

The practice of prescribed assets was used by the Apartheid government to fund its projects and provide liquidity that it could not get from taxable income.

In short, when the government implements a practice of prescribed assets, it forces investors to save and invest their money in specified projects and companies, normally those managed and owned by the government.

 

[WaxLyrical]

Was wondering about that as well. What does it mean?

Make it more tougher for the dedicated tax payer to leave.

 

[Fulcrum29]

So where are the people who were saying we were going to see tax increases and VAT? they were dead sure about it?
****ing pessimist.

Just remember that recovery mechanisms will me implemented elsewhere.

 

[SykomantiS]

Make it more tougher for the dedicated tax payer to leave.

Yes but how, exactly?
And, more difficult does not mean impossible?

Not trying to argue, just trying to understand.

 

[My_King]

No vat increase
Income tax decrease

I'm waiting for the catch.

Let me know if you find it. I cant stand watching the kak. Would like to know what was increased.

 

[CataclysmZA]

What's more it'll probably create 1000s of jobs in the insurance, law enforcement and ambulance chasing industries.

For insurance, not really. A lot of firms are rolling out algorithms that have accelerated how quickly they can deny or approve a claim, and because it's the bottom line that counts for insurance firms there will be a lot of people made redundant and let go as their jobs are automated.

Edit: After reading the summary, it's a decent budget that doesn't affect taxpayers much, but everything else is royally ****ed in order to find the money to fix the system.

And this nugget of idiocy:

“Reducing the corporate income tax rate will encourage businesses to invest and expand production, improve the country’s competitiveness as an investment destination, and reduce the appeal of base erosion and profit shifting.”

 

[BeerIsNotGood...]

Just remember that recovery mechanisms will me implemented elsewhere.

State Bank

 

[R13...]

Make it more tougher for the dedicated tax payer to leave.

Nah. The opposite. It looks like you'll no longer need to formally emigrate to get out of paying taxes. Or the opposite. They've even increasing the tax threshold by 250K.

 

[Candystore]

Thanks Chris

 

[dualmeister]

Well they all seem to be happy that their Johnny Blue is only going up by R2

 

[Mystic Twilight]

The reduction/freeze in public sector wages, someone get the community sized popcorn for that drama and fireworks. I'm guessing the eff is waiting in the shadows busy licking their lips and rubbing their hands for the increase in supporters when they announce their plan to increase the wage bill.

So where are the people who were saying we were going to see tax increases and VAT? they were dead sure about it?
****ing pessimist.

15 out of 19 polled top economists thought that was happening, MyBB has their name and company somewhere for you to peruse.

 

[dualmeister]