See hidden discussions | Win great prizes | Get free support
ANC is not in the game to run the country successfully. They are in it for the money... when we hit Zim status, they will have money in Dubai etc...Instead of rather sitting behind closed doors and addressing the real causes for taxpayers fleeing the country, it is much easier to threaten people with more taxes in the hope they would rather stay. As with the usual ANC, this too will fail. More taxpayers will leave, irrelevant of being taxed more when leaving. The government may well be facing its biggest challenge in its existence, and will likely be their last challenge they need to worry about.
That's the thing, they don't care. It doesn't matter to them what happens to the party. What they're doing to the ANC must be the NP's wet dream.Either way, this will not end well for the ANC. If I was them, I would invest heavily in purchasing books on Africa histories to see what awaits them in future.
It's not about keeping skill, it's about finding new revenue streams to fund their corruption.Entirely misguided as usual. There is no penalty that will encourage productive individuals to remain in an irreversibly damaged society governed by corrupt vultures. Desperate policies smell like rotting flesh and only accelerate the exit.
The aim is to impede the outflow of capital. Exit tax will marginally succeed in impeding capital outflow. The cost however on the inflow of capital is enormous. This is a massive billboard that confirms SA is not an investable destination as its own government has no confidence in its own policies to attract and hold capital.It's not about keeping skill, it's about finding new revenue streams to fund their corruption.
And don't think they are misguided. It is not to stop you from leaving, but to take more from you as you leave. They know it won't stop you from leaving, they just want to make sure they get that last but milked out of you as well.
Taxing me to leave will not make a difference. I'd leave with nothing if I can. SA is done. After this last few years here, it's clear as day what rotten self-serving cretins fester our halls of leadership. KZN was the cherry on the top.
The day I sold my SA property was a paradox. Very happy and super sad at the same time.I've sold my property in SA, so, as soon as the transfer has gone through and the bond account is closed, I can close my cheque account and then financially emigrate. The SA government won't get another cent from me.
We have long had CGT trigger on financial emigration. This tax in the article is an additional tax. Doubt anybody would pick up and leave due to this additional tax alone. It would more likely be the measure of the entire bundle of cons that make SA unfavourable together with the trajectory which assures additional unfavorable prospects. The world is vast, not everybody moves or even wants to move to Aus.
That's the irony, it will most likely cause more to leave. Then it may not have the desired effect. Those leaving and that can will structure it so it looks like they aren't until they get their hands on their pensions and then transfer them out through whatever means necessary. There's also the knockon effect that it will cause more people from now on to put their investments into foreign stock. The ANC doesn't seem to realise they're in a death spiral and what to do to get out of it.And don't think they are misguided. It is not to stop you from leaving, but to take more from you as you leave. They know it won't stop you from leaving, they just want to make sure they get that last but milked out of you as well.
That's different. CGT is a tax you'd pay in any case. They just move the date forward and the imaginary disposal value becomes the new acquisition value so you don't pay any additional tax.