In the National Treasury’s latest published Draft Tax Bills, which incorporates the tax proposals made in the 2021 Budget, the amendment proposes a particularly worrying amendment which may upend taxpayers’ carefully planned retirement. The Draft Taxation Laws Amendment Bill (TLAB) proposes an additional “exit tax” to tax retirement fund interests of individuals when they cease South African tax residency. This proposed amendment, due to come into operation on 1 March 2022, would be a further blow to emigrating South Africans wanting to cease their tax residency
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Emigration Tax? ANC Regime to Charge Emigrating South Africans an Additional “Exit Tax” on Retirement Funds!
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ANC Socialists Successfully Make Another 1.5 Million People Unemployed, Making Them Dependent on ANC Welfare Grants! Communism 101
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The CCPvirus remains the gift that keeps giving for large corporations and anti small business communists the world over, especially in South Africa where another 1.5 Million people have become unemployed. From “big box” big name retailers who are making record profits selling online, and having their small business competition permanently put out of business in lockdowns, to despotic socialist regimes like the ANC, who want more people dependent on them for welfare handouts, so they can control every aspect of their lives (and coerce them to vote ANC). However demand for welfare and emergency funds are high, with stiff competition from corrupt ANC cadres and thieves making away with large portions of the emergency loan funds already!
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Just something to think about with regards to SA taxes that will leave you shocked!
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Taxpayers should not foot the bill for ANC government’s failures. We need to look deeper into our system of government, and how we allocate risk and reward, responsibility and accountability. At this moment, if you earned R100, you pay R33 income tax. You are left with R67. You buy R67 worth of fuel, pay 48%..
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Consumers are warned of second increase in VAT to make up for shortfalls that were stolen by ANC-politicians
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With the new finance minister set to deliver the medium-term budget policy statement later this month, tax experts have warned of a likely increase in VAT in the coming year. Former SA Reserve Bank governor Tito Mboweni was sworn in as finance minister this week, following the resignation of Nhlanhla Nene. Bernard Sacks of Mazars,..
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