South Africans want ‘the rich’ to pay more tax, survey finds
In a country where only about 12% of the population is carrying the personal income tax burden, who exactly are ‘the rich’?
Conventional wisdom says that living expenses rise uniformly with inflation, so many financial plans are based simply on that. But analysing the spending patterns of retirees shows us that the data tells a different story.
Read moreIn a country where only about 12% of the population is carrying the personal income tax burden, who exactly are ‘the rich’?
There is still considerable uncertainty regarding what must to be implemented by the retirement industry.
Grey-listing reduces a country’s GDP growth by between 0.5% and 1.5%, says economist Iraj Abedian.
The legislation may not be finalised until October this year.
National Treasury says it hopes to get South Africa off the list before January 2025.
Treasury expects grey-listing will have ‘a limited impact’ on financial stability and the costs of doing business with South Africa.
The incentive applies only to the panels themselves and body corporates are not eligible.
National Treasury signals its opposition to higher tax rates.
Taxable income bands in the withdrawal tables adjusted by 10%.
And the bounce-back loan-guarantee scheme will be reworked to help small businesses finance renewable energy projects.
Outstanding issues will be finalised later this year.
The jury is still out on National Treasury’s projected debt stabilisation over the medium term.
General fuel levy and RAF levy to stay the same.
And a bitter-sweet decision regarding the ‘sugar tax’.
New chairperson is currently the head of group finance: governance and risk compliance at Transnet.