Finance minister Godongwana on South Africa’s new ‘exit tax’ – and why it’s not a tax

[BusinessTech]

Finance minister Godongwana on South Africa’s new ‘exit tax’ – and why it’s not a tax

Finance minister Enoch Godongwana has clarified Treasury's position on South Africans who change their tax residency, saying it is incorrect to call the recent amendments 'exit taxes'.

 

["D"]

Oh? Well then it's all fine and dandy then!

Thanks! I feel so much better about it all now!

 

[rvZA]

A tax is a tax is a tax is a tax. No matter how you look at it. This Minister may not have a lot of business, finance or tax background or experience, but it still is a tax.

 

[Stokstert]

It's not a tax, but fuel for the gravy train.

 

[Jet-Fighter7700]

It's not a tax, but fuel for the gravy train.

its not a Tax, its a Whitey tax, so not really a tax, because taxing Whites is Never a tax,
like being Racist against Whites, isn't being Racist at all.

 

[PaulMurkin]

It's not a tax, but fuel for the gravy train.

All taxes in SA are but fuel for the gravy train...

 

[CaptainObvious]

So I don't have to pay it then right?

 

[TheChamp]

its not a Tax, its a Whitey tax, so not really a tax, because taxing Whites is Never a tax,
like being Racist against Whites, isn't being Racist at all.

If it's not the irrational hatred for BMW it is the perpetual victimhood, have some pride ndoda.

 

[Sinbad]

With apologies to William Shakespeare, a turd by any other name would smell as rotten.

 

[Cius]

Its short sighted. They know they can't stop certain people leaving so they are gonna milk those people for all its worth while they can. What they have not considered is what it means to the young people who have not started work yet. The younger educated generation is a lot more mobile, and wanting international experience. If they know that anything they earn in SA will be taxed to death their first thought is gonna be don't earn anything in SA. Study here, and then leave as soon as you have your degree. Yes in the short term it might make them some cash but in the long run it is yet another very unfriendly law targeting the majority of the tax base. Not a good idea. If I was just graduated it would be a huge push factor for me to leave SA, rather than later when things may collapse that if I do go I lose most of my pension. Why take that risk? Start building your wealth outside SA then.

The current government will never learn that you have to be friendly to tax payers to keep them in a country. They consistently do the opposite and vindictively target us at every turn.

Also government taking a private individual's money is always tax, or a fine. You can put lipstick on a pig but its still a pig.

 

[Jet-Fighter7700]

If it's not the irrational hatred for BMW it is the perpetual victimhood, have some pride ndoda.

Ive explained it to you before, my hatred is simple,
1: Covid and all its ridiculous laws
2: Apple and all its products, whatever they are
3: BMW, made of Cheap Garbage dressed in Tinsel foil
4: ANC, need I explain more?
5:Mercedes Same as BMW, but Fancier.

sometimes the order changes, but as a general rule I'm a simple person.

 

[DreamKing]

if that is not a tax, I am able to choose to pay / not to pay, correct?

 

[Gaz{M}]

Just call it a freedom levy.

 

[Enzo Matrix]

Just call it a freedom levy.

I like this

 

[itareanlnotani]

Ive explained it to you before, my hatred is simple,
1: Covid and all its ridiculous laws
2: Apple and all its products, whatever they are
3: BMW, made of Cheap Garbage dressed in Tinsel foil
4: ANC, need I explain more?
5:Mercedes Same as BMW, but Fancier.

sometimes the order changes, but as a general rule I'm a simple person.

No.

BMW is for driving.
Mercedes is for comfort (or being driven).

Have owned enough of both.

Prefer Merc these days.