SA freakin TAX

HumanoidTyphoon said:
If our tax base is growing then they should have all the money they need, why all the increases?
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We've had tax decreases every year (for the individual) as long as I remember. You guys are just good at hysteria, if you analyse the picture for the past ten years, you'll huge tax breaks & the marginal rate has been coming down for how long.

In fact many feared a real tax increase for individual because of the recession, but that hasn't materialised and if the economy continues to recover we may yet see more breaks in years coming.
 
"You cannot legislate the poor into freedom by legislating the wealthy out of freedom. What one person receives without working for, another person must work for without receiving. The government cannot give to anybody anything that the government does not first take from somebody else. When half of the people get the idea that they do not have to work because the other half is going to take care of them, and when the other half gets the idea that it does no good to work because somebody else is going to get what they work for, that my dear friend, is about the end of any nation. You cannot multiply wealth by dividing it."
Dr. Adrian Rogers, 1931
 
from Budget speech
Recent research published by the Development Policy Research Unit confirms that significant progress has been made in the delivery of housing, water, sanitation and electricity.

- The proportion of poor households living in formal dwellings has increased from 47 percent in 1994 to 66 percent,

- Households with piped water have increased from 28 percent to 53 percent,

- Those with electricity for lighting, from 20 percent to 75 percent, and

- With flush or chemical sanitation, from 18 percent to 37 percent.
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According to the National Treasury, taxpayers with an annual taxable income of up to R270,000 would now receive 50% of the proposed tax relief, those with income of between R270,000 and R580,000 would receive 33%, and those with income of between R580,000 and R1 million would receive 12%.
...
"If we take an example of someone earning R200,000 a year, then the person would save R100 in tax every month, providing they're under the age of 65," he said....
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BTTB said:
I see you taking a dig at me there. No problem. :-)

South Africa is on the path of a Welfare State.
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Let's face it if I hadn't pointed out the distortions everyone would be (was already) +1'ing you.

You will notice I offered no opinion on this welfare state or not. What I do remember hearing in the time leading up to & at the state of the nation is Zuma discouraging dependence on the state. He said social grants would be linked to economic activity (I have no idea what that is). We may look it, but it appears the politicians see this as a problem and are discouraging it.
 
I pay Rates and Taxes to my Local Council
I pay Television License Fees
I pay Motor Vehicle License Fees
I pay VAT
I pay Fuel Surcharges & RAF when I buy petrol
I pay Income Tax
I pay a portion of UIF
I pay Toll Fees on highways
I pay Airport Tax
If I buy a house, I pay Transfer duty (sale over R600,000).
Sin tax on Tobacco and Alcohol.
Tax on lottery & gambling winnings
I pay tax on my car allowance
Fortunately my medical aid contributions are still exempt.
I get taxed on my dividends from next years
I pay tax on interest earned.
I pay an Annual fee on my Company License.
I pay a fee to register new companies.
I pay VAT and Customs Duties on anything I import

If I somehow get a large sum of Cash, I have to pay Capital Gains Tax
If my Dad dies, I will have to pay tax on his estate.
When I retire, I will have to pay 18% tax after the first R315,000 Retirement Annuity and 27% after the second R315,000, etc. (same for my provident fund).


It's no wonder I can barely make ends meet at the end of the month! :(

*** wonders how much tax I would pay if I lived in a shack in Katlehong? ***
 
R13... said:
We've had tax decreases every year (for the individual) as long as I remember. You guys are just good at hysteria, if you analyse the picture for the past ten years, you'll huge tax breaks & the marginal rate has been coming down for how long.

In fact many feared a real tax increase for individual because of the recession, but that hasn't materialised and if the economy continues to recover we may yet see more breaks in years coming.
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? Electricity is set to quadruple in cost. With that alone we are paying MORE. Nevermind the effects of the proposed toll fees. Nevermind that we have to pay for our own healthcare and security because government implementations are completely inadequate. No matter that we must pay people to watch our cars or put petrol in our tanks because the government hasn't created proper jobs for them.
The middle class can barely afford to remain middle class as it is.
 
satanboy said:
from Budget speech
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Whats the point of having a house capable of electricity if Eskom is unable to provide?

Whats the point of houses with water facilities if the municipalities are unable to provide?

I haven't seen them claiming that they have increased the households with x amount for y product, but are unable to actually support it.
 
HumanoidTyphoon said:
? Electricity is set to quadruple in cost. With that alone we are paying MORE. Nevermind the effects of the proposed toll fees. Nevermind that we have to pay for our own healthcare and security because government implementations are completely inadequate. No matter that we must pay people to watch our cars or put petrol in our tanks because the government hasn't created proper jobs for them.
The middle class can barely afford to remain middle class as it is.
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The above has nothing to do in this current discussion. I thought we were discussing the perceived tax increases announced yesterday.
 
Garyvdh said:
*** wonders how much tax I would pay if I lived in a shack in Katlehong? ***
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Probably not much. You'd get very cheap electricity and you wouldn't use much of it. Same for water - you wouldn't use more than the free 10KL per month the government provides. You'd save on petrol, insurance, and car maintenance by not having a car. You'd be able to save a lot more of your paycheque and invest it in various schemes. Your mortgage would be minimal and you'd be able to pay it off within a couple of years at MOST. Basically, you'd be smiling every day.

Off you go then! ;-)
 
R13... said:
The above has nothing to do in this current discussion. I thought we were discussing the perceived tax increases announced yesterday.
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They could reduce my income tax to 1%, but I'm not going to congratulate them if everything else increases in price and I am paying more than I used to.
 
I still can't understand why they don't just abolish income tax. And increase VAT. A lot. Rich people buy more ****, so they'd pay more tax. Poor people probably buy less **** that's not tax exempt, so they'd pay less.
 
grayston said:
Probably not much. You'd get very cheap electricity and you wouldn't use much of it. Same for water - you wouldn't use more than the free 10KL per month the government provides. You'd save on petrol, insurance, and car maintenance by not having a car. You'd be able to save a lot more of your paycheque and invest it in various schemes. Your mortgage would be minimal and you'd be able to pay it off within a couple of years at MOST. Basically, you'd be smiling every day.

Off you go then! ;-)
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sometimes I seriously think about it.
 
silentbee said:
I still can't understand why they don't just abolish income tax. And increase VAT. A lot. Rich people buy more ****, so they'd pay more tax. Poor people probably buy less **** that's not tax exempt, so they'd pay less.
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Rich people also save allot more (which they won't be taxed on, and just use that money to make more money - which in it self is a good thing). Then there are people who knows how to play the system (everything legal), like one of my friends - the stuff he tells me are just unbelievable. You can score big time by just being informed, and that is what separates the rich from the not so rich.

Rosaudio said:
Go move to the UK, i'm sure tax is better there..
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I checked the PAYE in the UK and they actually get taxed more if you take your salary in rands over to there. But I guess they get paid more. But there VAT was also raised recently (or was it only purposed?)
 
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R13... said:
Your browser must be set on negative. Mine has a bit about an 8.1bn tax break.
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The tax breaks on the lower limit affect all tax pays, but they are there due to fiscal drag, I.E. they are there to offset the effect of inflation.

So in real terms, you are paying the same %.

It is not a real tax break.
 
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