Expect a 2% VAT increase

hj007 said:
The lack of bracket adjustments way worse than any minor 2% VAT increase. DA playing games...
Click to expand...

Depends on how much you're spending. Seems like the tax bracket impact is going to be about an extra R4k tax per year if in the 45% tax bracket. To pay R4k extra VAT from a 2% VAT increase requires R200k of spending per year.
 
Forum Reader said:
Depends on how much you're spending. Seems like the tax bracket impact is going to be about an extra R4k tax per year if in the 45% tax bracket. To pay R4k extra VAT from a 2% VAT increase requires R200k of spending per year.
Click to expand...
True, but gets seems to also get compounded if including a salary increase - I just don't like that there are no inflation shifts on income tax, interest, tfsa, CGT thresholds. They're all stealth taxes eroding via inflation.

But good point about the VAT, hadn't thought of it that way round.
 
What's the story with VAT now - I'm doing my billing for this month and not sure if it's supposed to be 15% or 15.5%? As far as I know they haven't legislated the reversal yet.
 
You must log in or register to reply here.
Back
Top
Sign up to the MyBroadband newsletter
X