Two-pot withdrawals likely to help plug tax shortfall
Investec model shows tax take could miss target by up to R80bn this fiscal year
12 August 2024 - 05:00
Government tax receipts could miss their targets by up to R80bn this fiscal year. However, the implementation of the two-pot system and a likely cut in interest rates in the final quarter of the year are expected to boost spending ahead of the festive season, which might help to offset the expected shortfall.
This is according to modelling by Investec Wealth and Investment International, SA’s largest private client wealth manager. The model draws on data from the past six years, with the exception of 2020/21, which was greatly affected by Covid...
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