My recent visit to Zimbabwe

-
 The journey was well planned and it took us less than 10 hours to reach our destination from Pretoria South Africa to Mvuma central Zimbabwe.  A lot of construction is happening on the roads. Harare to Masvingo Highway is complete and the remaining part which was left between Beitbridge and Masvingo is being completed.  Surely by December it should be done. Though there is a lot of money being miss used, there are elements of success. Harare to Beitbridge road was a death trap, the road had so many potholes, had no shoulder no fencing to protect  animals from entering the road and some parts even worn out that left it narrow in a way that two trucks cannot pass without one having to go out of the road.  Those improvements form part of the new Government's transformation policy. There is job creation and slowly improving the standards which has been declining for more that 20 to 30 years. Surely Rome was not built over night. At the border you can see significan...
Post a Comment

Here’s how much the average taxpayer earns in Joburg, Cape Town and Durban

-

 9 May 2021

The South African Revenue Service (SARS) has published its tax statistics for the 2020 financial year, providing a breakdown of what the average taxpayer looks like in South Africa.

The report shows that most assessed taxpayers are based in Gauteng, and that the province also has the highest average taxable income at R435,239.

This is followed by Western Cape at R363,758, Limpopo at R346,517, Mpumalanga at R342,393, KwaZulu-Natal at R329,141 and Northern Cape at R320,289.

Meanwhile, the Eastern Cape and Free State Province have the next lowest average taxable income at R307,202 and R291,409 respectively.

SARS’ data also shows a clear difference between female and male taxpayers.

When looking at the number of individuals with taxable income between zero and R500,000, males on average were 8.5% higher than females.

However, as taxable income increased the proportion of females declined significantly. Only 32% of taxpayers with taxable income between R750,000 and R1 million in 2019 were females.

This proportion declines further to only 14.1% of those with taxable income of more than R5 million.

The proportion of females as a percentage of the total number of taxpayers assessed increased from 43.8% in 2016 to 45.8% in 2019. This was mainly due to more females than males becoming liable for submitting tax returns.

Distribution by source of income

The report shows that nearly 4.3 million individual taxpayers received income in 2019 from remuneration, pensions or annuities.

More than 2.8 million of these taxpayers also received annual payments in the form of bonuses or leave pay.

In 2019 almost 339,000 individual taxpayers earned local interest income that exceeded the exemption limit applicable for interest.

Interest from a South African source earned by any natural person under 65 years of age, up to R23,800 per annum, and persons 65 years and older, up to R34.500 per annum, is exempt from taxation.

The taxable portion of local interest increased from R18.9 billion in 2016 to R28.9 billion in 2019.

The number of taxpayers with taxable foreign interest increased from 216,706 in 2016 to 236,386 in 2019.

Read: South Africa’s middle class is running out of money – here’s how many will struggle to survive a financial emergency

Must Read

Comments

Post a Comment

Popular posts from this blog

MultiChoice’s BEE scheme trying to find 22 000 shareholders who are missing out on millions

-
Image
  USINESS REPORT COMPANIES MultiChoice’s black economic empowerment scheme is looking for about 22 000 shareholders who owned shares and did not receive dividends of R207 million between 2006 and 2020. Picture: Karen Sandison/African News Agency(ANA) MultiChoice’s BEE scheme trying to find 22 000 shareholders who are missing out on millions By Edward West   Feb 16, 2021 CAPE TOWN - PHUTUMA Nathi, the MultiChoice black economic empowerment scheme of more than 80 000 shareholders, is looking for about 22 000 shareholders who owned shares and did not receive dividends of R207 million between 2006 and 2020. “This money belongs to our shareholders. We’re calling on them to contact us to get their money. In these tough economic times we want to do everything in our power to give them what is rightfully theirs,” Phuthuma Nathi chairperson Mandla Langa said in a statement yesterday. Phuthuma Nathi has been paying dividends every year since the start of the scheme in 2006. Am...
Read more

Which countries have the world’s largest coal reserves?

-
Image
  Visual Capitalist Elements   | September 15, 2021 | 8:58 am   Intelligence   Australia   USA   Coal   The Countries With the Largest Coal Reserves Cheap and abundant coal remains one of the largest sources of energy worldwide, even as governments set out goals to reduce greenhouse gas emissions. While jurisdictions in Europe and North America have been phasing out coal use in power generation, it has been on the rise in Asia. China and India are scrambling to provide electricity to a growing population and relying on coal power plants to meet demands despite the environmental costs. SIGN UP FOR THE ENERGY DIGEST Sign Up This infographic takes a look into the  BP Statistical Review of World Energy 2021 , and the 11 countries that make up  89%  of the coal reserves globally. Coal Reserves, by Country While countries need to phase out coal by 2040 to achieve the Paris Agreement goal of limiting global warming to 1.5ºC, consumption in key ...
Read more

MOTORS MARINE MAY 7, 2021 Boat of the Week: This 171-Foot Super-Luxe Sportfishing Yacht Is the Largest in the World

-
Image
  The epic vessel is a 30-knot "battlewagon" designed to chase marlin, swordfish and sailfish. It's also decidedly lavish. By  HOWARD WALKER           Courtesy Vripack To hook the world’s biggest fighting fish, in the words of Chief Brody in the classic 1975 movie  Jaws , “You’re going to need a bigger boat.” Privately owned  fishing  boats won’t come any bigger than this astonishing 171-foot super-luxury sportfisherman, set to claim the title of “World’s Largest Sportfish Superyacht.” Designed by Dutch naval architects  Vripack , and soon to start construction at the Royal Huisman yard in the Netherlands, Project 406 as it’s currently codenamed, will be a 30-knot “battlewagon,” designed to chase marlin, swordfish and sailfish to the ends of the earth. “Project 406 is a sportfishing machine on steroids,” Vripack co-creative director Bart M. Bouwhuis told  Robb Report . “It has the proportions of a typical American sportfishing ...
Read more