LETTER: Investment incentive in taxation could improve all sports players’ lives
Move would benefit all young wage earners and have a limited effect on the fiscus
The article Call for players to receive preferential tax, January 30, reporting that the SA Football Players Union (Safpu) is seeking a special tax dispensation for footballers so that they can secure their futures after their careers have ended, seems at first another one of those requests for exceptional treatment that must necessarily fail (unless politics interferes). However, it prompted a thoughtthat would both benefit all sports players (even those whose careers extend into their 30s) and all young wage earners, and have a remarkably limited impact on the fiscus. If the SA Revenue Service Sars) increased the percentage of income that could be treated as tax-free if invested in appropriate instruments from the present level to 50% for all taxpayers under the age of 30 (or 35), this would meet the concerns of the sports administrators and encourage prudence among all young employees entering the economy. We all know that it is the length of time that funds are held in pension o...
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.