Emigration Tax Damage

Kosmik

Kosmik

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So here's a weekend thought, most of us know or know of folks who have emigrated. We also, roughly , should be able to guess their "loss to the tax system" excl your vat etc, I'm talking income tax.

Let's work on monthly as it's easier and if a person posts, take the then total from the previous and add it to yours. I think we may come with a very interesting figure.

To start, I have two main family members who are going this year as well as their adult children. I also know of at least two other couples who have left.

Proffesions:

Lawyer/Doctorate Lecturer
Charted Accountant
Director local company
Accountant
Nurse
Production manager
Teacher x 2
Electronic engineer
Development Manager
Solution Architect

Thumbsucking, I reckon the combined monthly Paye lost is around 200k and that feels low to me.

Current Total: R 200 000 per month.
 
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Be nice to keep track of the professions too.

*placeholder for attempting running total*

Professions:

Lawyer/Doctorate Lecturer
Charted Accountant
Director local company
Accountant
Nurse
Production manager
Teacher x 2
Electronic engineer
Development Manager
Product Owner
Engineer

Running Total as of 14:26PM 28/01/2023 = R 720k pm / R 8.6 Mil pa
 
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IT professionals x R35k pm should get you a rough figure.

And then I guess there is some sort of ratio between PAYE and other taxes like VAT
 
My husband and I tax loss (PAYE) per month after emigrating:
Solution Architect +- R42k
Product manager +- R37k

Running total +- R280 000
 
How did u get to running total for year to 280k?

What I get is tax loss of 948K per year and that should be the running total, is it not?
 
Interesting thread.

What would be more interesting, is to have a visualisation on income tax revenue YoY for SA, over the last decade.
 
Wealthy Buggers on Mybb are leaving. Hanz Stop them....
 
Priapus said:
Interesting thread.

What would be more interesting, is to have a visualisation on income tax revenue YoY for SA, over the last decade.
Click to expand...

Can't find much - but SARS did collect
R106.1 billion less, against 2019/20
 
Son-in-law and daughter leave next month.

Engineer employing 4 people - I rekon between them they take home about R60 not sure what the tax would be.

EDIT: Used to earn much more but he runs a factory and sometimes can only work 4 hours a day :mad:
 
maumau said:
Son-in-law and daughter leave next month.

Engineer employing 4 people - I rekon between them they take home about R60 not sure what the tax would be.

EDIT: Used to earn much more but he runs a factory and sometimes can only work 4 hours a day :mad:
Click to expand...
If they take home R60k , then tax is likely around R35k-R40k, sounds like R100kCTC.

So adding that R430k+ ~R35k, lets say:

R 470 000 per month. Updating second post with professions as well
Magnum said:
Wealthy Buggers on Mybb are leaving. Hanz Stop them....
Click to expand...
Well, that's sort of the point. And its not really wealthy, just most are in professions that we have a dire need of. So not only is there direct Tax loss from PAYE, there is skill loss ( and mose are likely well experienced ) and lots of supplementary tax losses ie: VAT etc as well as likely some of those employ or enable employment of others.

I'm just keen to see what our microcosm compares to the official figures. Sure, we will likely be skewed to the tech side but still a interest.
 
3WA said:
If you've got the time, you'll get all the numbers you want by digging through the National Budget Review each year:

National Treasury

www.treasury.gov.za www.treasury.gov.za
Click to expand...
Budget is coming, its going to be far worse than 2022s figures. The unrest in KZN was the last straw for many people and those losses will reflect in the tax year being reported now.
 
Tomorrow we have farewell party for a couple of professionals with unique academic and professional skills.
Huge expertise and financial (maybe 3bar per year) loss for SA.

Over the course of kids schooling being "dedicated" photographer when I check backups there are probably 40 families that left.
 
Kosmik said:
Budget is coming, its going to be far worse than 2022s figures. The unrest in KZN was the last straw for many people and those losses will reflect in the tax year being reported now.
Click to expand...
Would actually be super-interesting to see income tax revenue broken down per province per year to see if decay is faster in certain places, and if there is any growth somewhere. Don't know if those numbers are easily available though.
 
aleksandar said:
Tomorrow we have farewell party for a couple of professionals with unique academic and professional skills.
Huge expertise and financial (maybe 3bar per year) loss for SA.

Over the course of kids schooling being "dedicated" photographer when I check backups there are probably 40 families that left.
Click to expand...
I dunno about the 3bar figure, that equates to a tax burden of R250k per month with SA max paye bracket 44% if I recall. So we're talking a grossmonthly combined salary of around R400k? Not impossible just checking before adding such a large amount? Acturials and others could very well earn that so checking?

Or by a couple you mean more than 2 as in not a paired couple? 250k can easily be just six or so folks.
 
Kosmik said:
I dunno about the 3bar figure, that equates to a tax burden of R250k per month with SA max paye bracket 44% if I recall. So we're talking a grossmonthly combined salary of around R400k? Not impossible just checking before adding such a large amount? Acturials and others could very well earn that so checking?

Or by a couple you mean more than 2 as in not a paired couple? 250k can easily be just six or so folks.
Click to expand...
CTC one partner 2bar for sure.
 
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