@LibertarianZA The entire tax system needs a total overhaul.
The tax system is discouraging people from saving as any benefit from saving is taxed.
TFSA is a way to bypass that, but it has way too many limitations, especially if you older.
The laws are bordering on
legalized" theft.
@MasterMaliq If current trends continue, Muslims will outnumber Christians in the world by the year 2070 (Pew Report).
Islam is the fastest growing religion in the world and has been for a long time.
@BusinessTechSA Taxes are making people poorer in South Arica.
Its now reached a point where its not worth saving.
Any interest, any dividends, any capital gains, are all taxed.
Even when you retire, you are still taxed.
You die, you are still taxed.
Maybe we need to keep our money in a sofa.
@RyanRozbiani Watch how the American people will get poorer but Trump and his family members will get richer.
But it/s the American people themselves (just over 50%) that put him there, so they will have to live with the consequences.
@DailyInvestorSA This is criminal. Taxes are already draining people and the Government wants to add more taxes.
The common sense approach would be to cut down Government expenses.
The Government has to bite the bullet and take some risks in enabling employment in South AFrica:
1. Remove AA/EE/BBBEE - this could well be an obstacle to growth. International companies are not going to come to South Africa when they have other better options worldwide with no discriminatory laws. South Africa needs to provide a compelling case for investment.
2. Lowering of taxes - our taxes are way too high and are also restrictive, especially for young people who want to earn their own income by trading, crypto, and other entrpreneurial activities.
Our tax laws are also way too complex.
Our tax laws also discourage savings & generating additional income. Taxes on interest, dividends and capital growth is preventing people from saving, trading, etc).
There are many young people in South Africa that can probably earn their own income by trading and similar activities, but because of the way our taxes are structured, they are put off by the tax regime.
SARB and Treasury are also putting fear into the crypto space.
This needs to stop as crypto could well be a way to create jobs in South AFrica.
Similar with forex trading.
Related to this is exchange control regulations.
This is also restrictive to creating jobs.
As I mentioned, the Government needs to bite the bullet and reduce hurdles and obstacles in creating employment or letting young people earn their own income.
Government needs to open doors, not close the doors.
@DailyInvestorSA A guarantee is not a bailout, but it still raises questions about the viability of SAA to pay off its debt.
Is SAA on shaky ground again?
Joburg City still has potential but its going to take real leadership and visionaries to realise the potential.
One BIG issue at the moment is that political parties cannot or do not want to work together.
For Joburg to be rebuilt, that should be a non-negotiable - political parties need to keep their own agenda's to themselves and join hands with all other parties to build Joburg city.
And someone somewhere needs to set a vision.
Without a vision for Joburg, it will be back to square one in a few years if people and parties push their own agenda.
Some key issues/ideas:
1. Public transport (look at Tokyo as an example of how its done) (buses, trains, station malls)
2. Open spaces (parks, etc) need to be clean and safe. Joburg is blessed with flora - use it.
3. No crime - this is a non negotiable. Zero tolerance to crime.
4. Shopping streets - this is critical for a new Joburg.
5. Night life - again, safety is critical. This should not interfere with residential living.
6. Road design and traffic management (Joburg is a mess at the moment. Redesign is necessary)
7. Entertainment and tourism spots (eg. Newtown needs to be revived)
8. Festivals - another great way to revitalise the inner city. (eg. there used to be a Chinese New Year festival in Marshalltown every year. Bring these type of festivals back)
9. Bylaw enforcement - non negotiable
10. Design - have a competition for the re-design of Joburg.
The Government should consider introducing a "Government Public Service Exam (GPSE) " which any Government employee (maybe at a certain level and above) must pass.
Some Asian countries do this.
We need a base standard for a Government employee in South Africa.
@IOL The Government should consider introducing a "Government Public Service Exam (GPSE) " which any Government employee (maybe at a certain level and above) must pass.
Some Asian countries do this.
We need a base standard for a Government employee in South Africa.
@eNCA You can have the best laws and policies in place, but if the people involved are useless or inexperienced or incompetent or corrupt, it will make no difference.
The Government really needs to change out tax laws.
Speaking for myself, I have moved my money away from savings accounts as SARS taxes dividends, capital gains and interest.
This defeats the purpose of savings.
The Tax Free Account is a step in the right direction, but the limitations and rules only favour very young people.
The limits are also too low.
Our taxes are also way too high.
Hopefully a new Government in the future lowers taxes and even removes some of the taxes (eg. dividend tax & capital gains tax). And introduces many other deductions, not just an RA.
He is right, but he is from the same party that has implemented many of these policies and also the same party that was involved in the drafting of the Constitution.
Citizens have complained about the Constitution for decades, but the ANC did nothing.
The Constitution needs to be re-written and the process to elect Judges also needs to be reviewed.
The Constitution is a weak link in protecting South Africa's sovereignty and is also a weak link in ensuring the performance of Government.