How much money do you earn? And how do you spend it?

[ForceFate]

what % tax are you paying?

 

[shadow_man]

what % tax are you paying?

Any tax is too much Legalized robbery, just not at the end of a gun!

 

[Messugga]

Any tax is too much Legalized robbery, just not at the end of a gun!

The correct answer is "as little as possible"

 

[shadow_man]

The correct answer is "as little as possible"

Bit hard to do unless you're a contractor or get paid offshore I think

I'd love to be part of a tax revolt, if only companies paying the tax on our behalf would chime in.

 

[^^vampire^^]

The correct answer is "as little as possible"

The correct answer for me would be "the highest". I don't mind having to pay a lot of tax because it means I'm being paid a lot of money. If you aim to pay a small amount of tax you are aiming to have a low income. There's not much wiggle room for tax savings in SA so unless you are running your own company and making sure you are running at a "loss" this statement isn't very useful.

 

[cguy]

The correct answer for me would be "the highest". I don't mind having to pay a lot of tax because it means I'm being paid a lot of money. If you aim to pay a small amount of tax you are aiming to have a low income. There's not much wiggle room for tax savings in SA so unless you are running your own company and making sure you are running at a "loss" this statement isn't very useful.

Yeah - high taxes falls into the category of "nice problem to have"... Although there are some countries that can keep their "nice problems" - don't forget that France!

 

[HavocXphere]

The correct answer for me would be "the highest".

Or you could just move to a country with no/low income tax.

Its a very real issue though. e.g. Those moving to Netherlands...whether they get that 30% ruling or not can make/break their budget.

 

[JeffMan]

31 years old.
Earn 70k per month CtC.
After tax, RA and compulsory insurances I net around R43k.
Spend R11k on house bond, R7k on flat bond and expenses (but rented out at R6.5k).
R3.5k per month on security, rates and taxes, electricity, gardener and those kind of expenses.
R3k per month on additional life insurance and RA contributions.
R6k per month on 2 car installments.
R10k per month on groceries, fuel, entertainment and random (probably uneccesary) purchases.
Try and save the rest.

Bit of an update...
33 years old
Major promotion, and getting around R96k per month.
Most expenses have moved with inflation and/or prime lending rate.
Also spending a lot more on maintaining a little one (playschool being the major expense).

 

[Frankie_Yale]

Bit of an update...
33 years old
Major promotion, and getting around R96k per month.
Most expenses have moved with inflation and/or prime lending rate.
Also spending a lot more on maintaining a little one (playschool being the major expense).

what???

but how?

 

[KleinBoontjie]

Bit of an update...
33 years old
Major promotion, and getting around R96k per month.
Most expenses have moved with inflation and/or prime lending rate.
Also spending a lot more on maintaining a little one (playschool being the major expense).

 

[Frankie_Yale]

and I still wonder why people want to leave SA with these kind of jobs around.

 

[Agent_Smith]

Holy crap!

Knew it was a bad idea coming to this thread...

/reflects on life and career choices

 

[Voicy]

The correct answer for me would be "the highest". I don't mind having to pay a lot of tax because it means I'm being paid a lot of money. If you aim to pay a small amount of tax you are aiming to have a low income. There's not much wiggle room for tax savings in SA so unless you are running your own company and making sure you are running at a "loss" this statement isn't very useful.

My tax is sitting at 44%. We also pay 50% on any and all overtime done.

I don't mind it so much considering that it doesn't cost anything to go to hospital or to study and the road are in pretty good nick. If this was in SA I'd have an issue with it.

 

[Pyro]

Bit of an update...
33 years old
Major promotion, and getting around R96k per month.
Most expenses have moved with inflation and/or prime lending rate.
Also spending a lot more on maintaining a little one (playschool being the major expense).

Nice!
What type of work do you do?

 

[KleinBoontjie]

Bit of an update...
33 years old
Major promotion, and getting around R96k per month.
Most expenses have moved with inflation and/or prime lending rate.
Also spending a lot more on maintaining a little one (playschool being the major expense).

Pravin.....is that you????

 

[maumau]

Pravin.....is that you????

Man oh man you guys crack me up

 

[theratman]

32 years old and nowhere near that salary. Please sir give me a job.

 

[SaiyanZ]

Also 33 and just hit R50k CTC. Net is about R30k. No debt and single so can save a load.

 

[Dr Who]

Jeffery my man - I have some questions for you:

Do you think your Salary is good, and will it allow you to live a comfortable life?
If you look back 10 years what were you earning ? ( probably less than 10 yrs work experience )
If you look forward 10 years, what do you think you will be earning?
Is there a level you feel you might plateau?

If I compare yourself to myself, I do not earn what you do, but have also done fairly well. My biggest question is how does one enable oneself to purchase high value properties or accumulate real wealth? If I look back over 10 years I have done very well, but cant see how I would ever afford a R4mil property. But if a project forward my past success, then it should be much easier. However I understand that growth is not linear.

 

[maumau]

Nice!
What type of work do you do?

+1