🔒 The hypocrisy of dividend and personal income taxes
Dividend withholding tax and personal income tax can do immense harm to the economy through their dissuasion of savings and investments – leading to fewer jobs and reduced welfare.
Dividend withholding tax and personal income tax can do immense harm to the economy through their dissuasion of savings and investments – leading to fewer jobs and reduced welfare.
Before the writing of this article different tax rates were applied by South Africa Revenue Service (SARS) on annuitants with more than one annuity.
In this article by Dr BC Benfield, the inordinate tax burden carried by South Africans – and the repercussions thereof – are explored in depth.
David Drew sat down and did some number-crunching based on the most conservative NHI funding estimates available, using the broadest possible swathe of sources.
The latest budget delivered by Finance Minister Tito Mboweni sees no change to personal income tax.
South Africa’s tax agency collected R1.216 trillion ($101.3 billion) in the year through March, slightly below target.
Independent Financial Advisor Magnus Heystek covered many Budget Speeches during his years in financial journalism. That puts him in a good position to provide cogent commentary on Pravin Gordhan’s address last week.
There was precious little in the Budget to assist in growing the economy by way of a reduction in tax rates or incentives to excite local or foreign investors.
Daniel Silke says a credible Pravin Gordhan ultimately did what he could do at the 2017 Budget, and was stymied by political and policy paralysis. If he’d gone any other route, he may have fast-tracked his own exit.
Bracket Creep is when an increase to a person’s salary effectively places them in a higher tax bracket than they were before.