That would be hectic, we used to have another tax system called SITE, which was tax on the first 70K you earned (if my memory serves me right) and it would be a non refundable tax, so no deductions were allowed on that.
Putting our income into perspective: Elon Musk paid more for Twitter than the total 2024/2025 projected personal income tax revenue for SA at R19=US$1, or, 2.5 million people are paying an average of R250,000 tax each to get to this level of personal income tax collection...
Thank you soo much for the effective break down, perfect summary.
Thank you 🙏
Great video 👌🏾
Thank you! 🤗
Thanks for the review🙏🏽. I needed it for my assignment
Glad it was helpful!
Thanx, Great Summary
Glad it was helpful!
my left ear enjoyed this
Thank you🥳😂
Wow, thanks
No problem!
Thank you for this 🎉
Pleasure!
What are the implications of SA budget 2024 on local govt bonds and equities?
Not to sure about that one, economics is not an area which I focus on
👨🏿💻🍿
Glad you enjoyed it!
The personal taxeshave effectively increased!
How?
@@againstthegrain147 Get someone to explain what inflation actually is. (Not what most people think it is)
@@againstthegrain147 Imagine if they were still using the tax table from 1970. Does that make more sense now?
That would be hectic, we used to have another tax system called SITE, which was tax on the first 70K you earned (if my memory serves me right) and it would be a non refundable tax, so no deductions were allowed on that.
0:48 so disappointed nothing changed to account for inflation 😢
Agreed, people are suffering
When will they put budget to actually help small businesses and grow the economy.
@richellewridgway257 unfortunately we are on our own 😢
Putting our income into perspective: Elon Musk paid more for Twitter than the total 2024/2025 projected personal income tax revenue for SA at R19=US$1, or, 2.5 million people are paying an average of R250,000 tax each to get to this level of personal income tax collection...
Its crazy!