Why did they create a system that doesn't help citizens? If i have an "emergency? That needs R25k, with the tax implications this will basically not resolve my emergency. This money should be tax free
Why are we not saving for emergency? Yet some people go for holidays n indulge in luxuries year n year out. Not ignoring dat der those who earn too little to can save. Retirement is for just that not for emergencies 😢😢😢
Basically, live as if nothing changed and forget about this thing. The system is programmed not to make everyone and anyone rich. Further more, its designed to keep us dependent on it.
South Africa is the only country that pays so higher-ups tax monies and if you withdraw your own money then they deduct some of your money Why??? Give our money we worked for it where's the labour law or do we pays Gov debt??
How does it work for people who pay the tax on salary and then put a portion into a retirement fund. Why pay tax again on your monthly retirement pension.
With an Endowment Policy tax is paid up front so when it is paid out no tax is deducted. A certain percentage can be withdrawn once only. When my business was adversely affected by the 2008 crash I had to use this option in order to pay bills and eat. Difference with a pension fund is that it is not taxed up front.
it honestly compromises anyone who withdraws, as the tax bracket essentially increases and places you in a higher tax bracket. may even further debt you in the long run, so whats the point?
i thought our government came with this option, to help us , because he could see people re in trouble indebted but now it seems we will find ourselves being the victims of the same Sars , this money supposed to be tax free, they brought it to only maximum of 30 k subjected tax ,now they coming with another thing of you owing SARS, THEY SHOULD HAVE SAID ,SARS IS IN TROUBLE ,WE SHOULD BAIL SARS,
But why they implement this system and tax us this huge amount, and if i invest they don't put the huge interest,our government doesnt cre about us,they care for themselves.PLS WE NEED URGENT HELP FROM ALL POLITICAL PARTIES, UNIONS WHO CARES ABOUT US
Funny how some people in they high horse talking nonsense that bad financially decisions and that and that wait until the are in the same situation that millions of people are facing let see if they will be talking the same BS that they saying now
What happens if I get employment at 25 years of age and get retrenched at 50 yrs old and have zero chance of getting another job. Does that mean I must starve until I am 60yrs old? I can't access money to open a business? This is another way to oppress black ppor majority. BS.
Why did they create a system that doesn't help citizens? If i have an "emergency? That needs R25k, with the tax implications this will basically not resolve my emergency. This money should be tax free
Why are we not saving for emergency? Yet some people go for holidays n indulge in luxuries year n year out. Not ignoring dat der those who earn too little to can save. Retirement is for just that not for emergencies 😢😢😢
@@thembinkuna96 That is true, but now this system is created for "emergency" why not leave the retirement as it was. There was nothing wrong with it
It was tax free when you accumulated it !!!
Domkop !!!
Who can save these days?
@@charliecane3621Precisely my question.
Corruption made legal !!! Kudliwa njeee Amandla abazali Bethu lah!!! Ftsek
true , but its called "Pension fund for a reason"
Basically, live as if nothing changed and forget about this thing. The system is programmed not to make everyone and anyone rich. Further more, its designed to keep us dependent on it.
Government is taking crazy decisions with our monies without our concern n our unions are no were to be found😮Tjooo
The ANC of Ramaphosa's is killing us
South Africa is the only country that pays so higher-ups tax monies and if you withdraw your own money then they deduct some of your money Why??? Give our money we worked for it where's the labour law or do we pays Gov debt??
😢 exactly
Always will find a way to rip us out. This is not what citizens asked for. Even when retired you still pay tax. The unions must stop this nonsense and
GNU please assist us, cause this was implemented by the ANC before GNU
How can I plan for the future while I'm struggling now with my monthly salary.
They know people are desperate for extra money in a systems that make so hard fo live in.
This pot system only benefits sars or the government.
How does it work for people who pay the tax on salary and then put a portion into a retirement fund. Why pay tax again on your monthly retirement pension.
If you are putting taxed money into an annuity, the tax on those payments can be claimed back from sars at the end of the tax season.
You don't!!!
Domkop...
You don't pay tax on money that goes into retirement funds....you deduct it when you fill in your tax return....
With an Endowment Policy tax is paid up front so when it is paid out no tax is deducted. A certain percentage can be withdrawn once only. When my business was adversely affected by the 2008 crash I had to use this option in order to pay bills and eat. Difference with a pension fund is that it is not taxed up front.
it honestly compromises anyone who withdraws, as the tax bracket essentially increases and places you in a higher tax bracket.
may even further debt you in the long run, so whats the point?
This is simple why you Sars wants to benefit out of this? When you know people who will be tempted to withdraw is a poor working class?
Is it not a scam why they are taxing people twice in their money
The deductions is before tax
Fraudsters.
1000%
ANC are domkoppe
Give us access tax free...
He never gave the contact no.
Punishing poor financial literacy and the inability to have savings separate from the retirement fund, and living below your means.
i thought our government came with this option, to help us , because he could see people re in trouble indebted but now it seems we will find ourselves being the victims of the same Sars , this money supposed to be tax free, they brought it to only maximum of 30 k subjected tax ,now they coming with another thing of you owing SARS, THEY SHOULD HAVE SAID ,SARS IS IN TROUBLE ,WE SHOULD BAIL SARS,
And it will be used on non-tax payers 🤔
If one is not working, which tax rate is going to be used?
SARS Wants to be the enemy of the people they better leave this money alone please
When is gpf paying, ?????
Dear Sir how is the taxe number becomes a anactive but it's keep taxing by the same taxe number?
17:39
But why they implement this system and tax us this huge amount, and if i invest they don't put the huge interest,our government doesnt cre about us,they care for themselves.PLS WE NEED URGENT HELP FROM ALL POLITICAL PARTIES, UNIONS WHO CARES ABOUT US
Ridiculous!
Funny how some people in they high horse talking nonsense that bad financially decisions and that and that wait until the are in the same situation that millions of people are facing let see if they will be talking the same BS that they saying now
We can't access application
New outfit 😍... Its nice there ..
Weeeee mameeee
So this millionaire decides what poor you and I must do with our hard earned cash.
This is the mandate of the GNU you voted for
This has absolutely nothing to do with GNU, this law was legislated long before the elections, with the implementation date being 1st of September 24
@@mandlamshengu8777 some people are really stupid and uninformed
I what to know how much I owe sars
What happens if I get employment at 25 years of age and get retrenched at 50 yrs old and have zero chance of getting another job. Does that mean I must starve until I am 60yrs old? I can't access money to open a business? This is another way to oppress black ppor majority. BS.
ANC scammed you guys
Valid point! I dont think they care...
Sars is greedy.
Why is this nonsense not optional, cause we are not properly consulted on behalf of our money
Scam scam scam.
motho o montle
No comment
Legal heist got it 🤌🏽
Consequences of terrible financial decisions