Debate about the punitive impact of capital gains tax (CGT) on the economy has been sparked by recent articles from academics and members of the Free Market Foundation (FMF).
The main criticism of the current regime is that it does not take inflation or currency fluctuations into account, effectively sabotaging economic growth by taxing “phantom” gains.
CGT was introduced in 2001 with the policy objective of enhancing equity and fairness, preventing tax avoidance, and aligning South Africa with global norms.
Most countries have introduced CGT. Most do not allow for inflation indexing. They include the United States, the United Kingdom, Australia, and Canada. Countries that do allow…
Heritage Day: Celebrated on September 24, this day promotes South African
culture and heritage, encouraging people to embrace their diverse backgrounds.
Saturnalia
Elon Musk was born in South Africa, and made an electric car. What if he had been born in Madagascar?
He would have made a gas car
Bones
Voetsek! – Go away! [foot-sak] Usually said with an angry tone when telling someone to go away or get lost. You don’t want to be saying this to a local or worse, if a local says this to you – you’ve really angered them!