Tag: tax

So you’ve come up with a killer business idea and you’re ready to turn it into a side hustle or startup. What now? What do you need to do to bring it to life? Whether you’re looking to earn some extra money on the side or dreaming of starting "The Next Big Thing", Side Hustles and Startups is packed with the information you need to take this big step into your bright future.

In 2018, the world watched as 82 per cent of all wealth created was claimed by the top 1 per cent of the global population. The bottom 50 per cent of humanity saw no increase at all. While one new billionaire was created every two days, one in every four South Africans were living on less than R18 per day – not enough to buy a loaf of bread.

The premise of Tax Freedom Day is relatively simple to understand. It takes the total amount of taxes paid and divides it by the number of individuals in that jurisdiction to calculate how many days it would take them to pay those taxes. The first day of the year when all the income would remain with its owner is Tax Freedom Day.

Committing to maintaining sustainable public finances proves to be challenging amidst a geopolitically tense global environment, less favourable growth in the global economy, and persistent energy and logistics obstacles locally. These factors collectively jeopardise government revenue growth, widen the budget deficit, and increase the country's debt ratio.

The 2024 Budget was tabled to Parliament on 21 February 2024 by South African Finance Minister Enoch Godongwana. Tax Pocket Guide Honourable Speaker, Nosiviwe Mapisa-Nqakula His Excellency,...

As the new year unfolds, many business leaders across Africa are assessing the 2023 year to chart an increasing resilient path ahead. Last year, major key events unfolded that had global repercussions on supply chains, businesses and the leaders of those businesses.

New year, new you. You’ve probably already heard this countless times but its safe to say that you’ll hear it a whole lot more as you make your way through the five weeks of January. What this actually means for each individual is obviously very different. For some, its gaining financial freedom, achieving a health goal or learning a new skill. For others, it’s fulfilling a professional dream – like owning your own business.

As with the bosomy among the fairer sex, big government inevitably stimulates public interest and invites frenetic courtship and unrelenting pursuit. The pursuers are usually rent-seekers, lobbyists and representatives of all sorts of sectional interests.

South Africa’s tax laws were designed for a high-income society – a result of a long history of the country accommodating a small, wealthy economy, and a large, poor one. But for a country with tens of millions being either unemployed or receiving very little income, being one of the world’s highest-taxed states does not make sense, particularly when small business growth is so crucially important to our economic future.

The new two-pot system will provide short relief for SA retirement fund members, but the trade-off will include  increased complexity and possibly increased administrative costs, notes Blessing Utete, Managing Executive: Old Mutual Corporate Consultants.