Expect a big jump in taxes to pay for South Africa’s coronavirus support plan: Dawie Roodt

Scooby_Doo

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What happened to "Increasing taxes will result in less tax being collected"?
 

Asgard85

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I wonder if this prophet of doom gets invited to many parties?
 

ToxicBunny

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They can try Danie, even if they hike taxes by 30% across the board, they will collect less tax overall than they did last year in my opinion.

The government needs to accept that they will see a 10 - 20% decline in tax revenue for this year.
 

Kosmik

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Lol tax what? Folks have to generate revenue to pay tax and with the partial pay, a lot of brackets are now less.
 

Eric

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They can try Danie, even if they hike taxes by 30% across the board, they will collect less tax overall than they did last year in my opinion.

The government needs to accept that they will see a 10 - 20% decline in tax revenue for this year.
10-20? Way higher than that!
Mostly in corporate tax and VAT.
 

Nemoneiros

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3WA

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Stupid coronavirus, stupid wet markets, stupid butterfly effect, stupid global economic uncertainty, making me pay more taxes.
 

R13...

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They can try Danie, even if they hike taxes by 30% across the board, they will collect less tax overall than they did last year in my opinion.

The government needs to accept that they will see a 10 - 20% decline in tax revenue for this year.
And they ought to be able to find that shortfall in reductions in government employee salaries. Companies will be retrenching and ask for salary reductions yet the leeches in government and SOEs continue to receive increases and bonuses. It's absurd.
 

ToxicBunny

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And they ought to be able to find that shortfall in reductions in government employee salaries. Companies will be retrenching and ask for salary reductions yet the leeches in government and SOEs continue to receive increases and bonuses. It's absurd.
100%.

I would expect that whatever percentage reduction in workforce the private sector suffers through, the government workforce should experience the same.
 

JayM

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Here are the options to fund COVID-19 relief:

1) Print it
2) Raid private pension funds
3) Prescribed assets
4) Bank account haircuts

If we can get away with just #3, it looks like the least rubbish option. I suspect it will be a combination of 2,3 & 4.
 
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