SA’s overburdened taxpayers get hit again: here’s how #Budget2021 plays out in your personal finances

Helping to unpick the details of the National Budget and how changes affect your investments and tax bill is Dawn Ridler, of Kerenga Wealth Ecology. She tells Jackie Cameron of BizNews that although there’s a huge hole in government funds, the government needs to be careful of killing the golden goose - the small, shrinking pool of personal income taxpayers. There’s a 2% real increase in tax, through bracket creep, and a wealth tax in the form of a clamp down on taxpayers ‘with complicated tax affairs’. The ending of the 12J scheme is also a disappointment for higher income earners, who have used the incentive to cut their tax bills while at the same time helping start-ups and, in so doing, generate business growth. Learn more about your ad choices. Visit megaphone.fm/adchoices