NHI will prompt exodus of top taxpayers, IRR warns
Think-tank says bars on medical schemes will dent the corporate tax take, reducing the funds available for government spending
27 August 2024 - 05:00
The Institute of Race Relations (IRR) think-tank has called on health minister Aaron Motsoaledi to repeal the National Health Insurance (NHI) Act, saying its restrictions on medical schemes will increase the emigration of SA’s biggest taxpayers and dent the corporate tax take, reducing the funds available for government spending across the board.
SA has only about 862,000 individual taxpayers with an annual income above R750,000, who contribute 58.6% of all personal income tax paid to the fiscus, said the IRR, citing Treasury estimates for 2024/25...
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.