Rubbish.
It will be flying to those cities with people flying ‘free of charge’ and presenting only tokens that appear like legitimate tickets only for the airline to ‘discover’ later that no such funds were ever deposited. Otherwise, how do you account for the huge deficits that recur year in and year out. This airline is doomed, cull it already. Its embarassing to keep calling it ‘a national airline’ it is not. Just take it to the knackers – – – and let’d be done with it.
The meek shall inherit the grants . Low IQ is in fashion and rewarded.
I think they are concerned about the taxpayers leaving hence all the rule changes with regard to pensions / RA’s. The object being to make it more difficult for people to leave and trap as many as possible in SA.
I am not sure that Zuma has paid anything for his legal expenses. I think he has already succeeded in passing the vast majority of the cost on to taxpayers. That is why he has been so successful with his stalling tactics i.e. he had unlimited legal advice and the best advocates all paid for by the taxpayer.
It is apparent that “ignorance is bliss”
I’m not comfortable being in a train at 160kph that is being maintained and operated by the lowest priced bidder. Secondly, there is only one company (or consortium) in SA with experience in operating and maintaining the Gautrain- so who else will be able to bid?
Does Spur still serve John Lee Special, Chattanooga Cheese Cake or Chico the Clown?
Thanks for your insight. Will check out ShapeShift.
thanks for your insight.
So cryptos are priced in USD. In SA, on the local exchanges you buy in Rands. You get the Rand equivalent, so the USD is priced in.
If (and I have seen) a crypto go from $1 to say $3 in the US… this is 200% growth. In Rand terms I have seen the same crypto moved from R16 to R45 … in Rands we got 181% growth…
Not many assets give 200% growth in a short space of time.
Definitely agree that some FIAT denominated equities in developed economies have given good returns… but access is a problem… which broker do you use?
I agree – great article, Marius.
The guide to investing in retirement based on drawdown rate is something I have not seen before. Very useful, even if as a starting point.
Two other small comments:
1) You comment a couple of time on the tax rate in endowments compared to individual tax rates. I presume the latter is the person’s marginal tax rate.
2) While this article is not a tax guide, some comment on the management of annual interest and CGT may be useful.
Thanks.
As someone who also has some crypto, it certainly is NOT a hedge. For an effective hedge there needs to be a correlation, I do not see this. Now don’t get me wrong having crypto exposure in your portfolio is not a bad thing in my opinion, it should just not be seen as a hedge against SA’s fiscal and economic risks. At the moment the best hedges in my opinion remain foreign FIAT denominated equities in developed economies. I could be wrong and stand to be corrected though.
Add some praying and they’re good to go …
Yes, the world has gone loony … but I also read that someone annoyed with the “artist” or the process, simply made her NFT free to download. No certificate but still destructive.
Instant collapse …
Yes 100% robbery
GW is a dinosaur! Extinct and useless!
Well done Sir.
Very true, and if you are using ShapeShift then you are able to move your money into multiple crypto accounts and in different crytos with in seconds.
As a test, I moved the equivalent of just R1000 in 10 different accounts and back in 10min.
I no longer measure bitcoin, rather I use it as the yard stick for measuring.
Yes. Crooks. The inflation figures they talk about is rubbish anyway!!!!
You can get 7% on a USDC (dollar stable coin) account. Time to forget about these crooks. Time for a new dawn.
Forget the tax gap since there is no political will to tax, for example, the taxi industry which is largely evading tax. Rather Cut Expenditure. We have 16 million people on social grants, free health care, free school education, free university education and free RDP houses. Add to that free electricity, free water and free refuse collection because people simply don’t pay. We also have a gigantic parliament with 400 members, hundreds of traditional leaders and 2,1 million civil servants. Simply unaffordable.
All the money stolen + all the money misspent = the tax gap.
There, I have done the calculation for you.
I still will not fly SAA, it represents the epitome of “Transformation”, “BEE”, “State Capture” and Corruption.
The new owners have paid a really hefty premium, probably because it has some “preferential benefits”.
‘starting with about six aircraft’
This means more or less six.
Is this five, six or seven?
Already very vague!
Dare anyone criticise the cause of this problem? In this woke and PC world, no has the courage to say what needs to be said – Zimbabwe’s and Africa’s problem is 95% the fault of its indigenous inhabitants. Incompetent, corrupt, causally violent and primitive in word and deed. This will never get posted – who cares, I’m the better for writing it!
Yes, the problem is that SARS is the collection agent for a gangster government. No matter what SARS does it is tainted by association. People are right to avoid paying tax at all costs.
“historically disadvantaged people” ? – considering its been 27+ years now, that must mean people of Caucasian heritage surely?
The tax gap is 200bn. The gap in the country’s economic performance is trillions. Does anyone care about this? No.
There’s a huge tax gap in charging corrupt politicians.
The metric that 6% of the population pays just about all of the tax is just another depressing spot on another global league table where we excel in under performance.
Does anyone care about this? No.
The focus in the country is totally on the wrong things, and so the results are all heading in the wrong directions.
Viva ANC, viva
To stop sleeping around is very hard and even couterproductive if getting an erection is the only feat you are capable of.
Tax gap candidates…
Taxi industry, ANC corruption cadre culprits, Cas businesses, cash and carry, illegal cigarette and alcohol manufacturers ans smugglers, those that steal or don’t pay municipal services, shabeens and spaza shops.
Force eleonic payments for absolutely everything via a crupto.
A the three-day event to decide if they will still continue avoiding lifestyle audits in order to increase tax collections.
Simply blows the mind.
Eskom is a tool in the hands of Luthuli House to channel the spending power of households and businesses to connected BEE companies with loaded tenders in the coal and transport industry. Every one of us foots the bill for the ANC’s vote-buying exercise.
It is also time we all answer the following question – which demographic group is responsible for building the business that enables the implementation of BEE policies, and which group also determines the success of those projects after implementation?
And on Monday next week they will petition the Govt. for a bail out. R8b should do it for the next 6 weeks.
There is no trust to rebuilt, we never trusted the government right from the beginning. And we trust them even less now.
With the ANC in charge their cannot be any rebuilding of trust in any government institution. Especially when they are so broken.
Both PwC and SARS were culprits in state capture.
How trustworthy are both?
SARS is captured.
It is blatantly obvious that Zuma has spent more on legal costs than he ever earned in his lifetime and is still doing so.
Where does the money come from and has he paid tax on it??
The fact that SARS blatantly ignore this shows clearly that they are captured and the new anc “deployee” is the capturer in chief!!
It is as clear as daylight!!! FFS!!!
More drivel from this useless apology for a president! All we learn from this is that Cyril is out of touch with reality.
Fly at your own peril !!
NO Rammer !! You guys have a goal of only a better life for yourselves!!!
Socialist viewpoint