Tax Freedom Day (TFD), the day after the country has earned enough money to pay for the government, is predicted to fall on 14 May this year, which is two days later than last year’s prediction, according to statistician Garth Zietsman.
This means the average South African taxpayer must work 133 days to pay for the government before they can start working for themselves.
TFD represents the first day of the year on which the nation has theoretically earned enough income to pay its collective taxes.
The prediction is based on the intended level of tax collection for central government mentioned in the Budget Speech. Typically, the actual figure, which is general government revenue as a percentage of GDP, turns out to be 30% more than the intended figure, Zietsman said.
Although the increase from last year seems quite modest, it is higher than the long-term upward trend, of 1.12 extra days a year, over the past 23 years. At the long-term rate of increase, each new generation can “look forward” to an extra month working off the tax bill every year, he said.
Health Squared liquidator appointed
The Registrar of Medical Schemes has appointed Sophie “Peppy” Kekana as the liquidator of Health Squared Medical Scheme, which was placed in final liquidation by the High Court in Johannesburg on 17 February.
Kekana is expected to deposit with the Registrar a preliminary account and a preliminary balance sheet showing the assets and liabilities of Health Squared, the Council for Medical Scheme said. She must publish the final liquidation report less than 14 days from the last day on which these documents lie open for inspection. If no objections are lodged with the Registrar within the specified period, the Registrar will direct the liquidator to complete the liquidation within 30 days of receipt of such instruction.
Claims against Health Squared should be lodged with the liquidator at peppy@khrinc.co.za.
