Business Law Focus
PODCAST | Why a wealth tax may not be on the cards
Evan Pickworth speaks to director at AJM Tax Albertus Marais, to unpack what taxpayers can expect
In the next episode of Business Law Focus, we delve into the potential for extensive tax increases in the upcoming budget. Editor Evan Pickworth is joined by director at AJM Tax, Dr Albertus Marais, to unpack what already overburdened and overstretched taxpayers can expect.
Marais explains that close to 20% of budgeted expenditure will not be received as income, so this shortfall will need to be made up over time. However, he says extensive tax increases or a wealth tax are probably not likely. He points out that while both the supplementary budget and the medium-term budget policy statement of October 28 2020 proposed tax hikes, these were actually quite limited when compared to the rising tax gap...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.