Posts tagged with 'funds'

 

Emigration Tax? ANC Regime to Charge Emigrating South Africans an Additional “Exit Tax” on Retirement Funds!

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In the National Treasury’s latest published Draft Tax Bills, which incorporates the tax proposals made in the 2021 Budget, the amendment proposes a particularly worrying amendment which may upend taxpayers’ carefully planned retirement. The Draft Taxation Laws Amendment Bill (TLAB) proposes an additional “exit tax” to tax retirement fund interests of individuals when they cease South African tax residency. This proposed amendment, due to come into operation on 1 March 2022, would be a further blow to emigrating South Africans wanting to cease their tax residency, following on from the three-year lock-in rule imposed on retirement annuities earlier this year. 

It is important to note that the Income Tax Act No. 58 of 1962 (the Act) already makes provisions for an exit tax where a person ceases their South African tax residency. The Act creates a fiction whereby a person who ceases residency is treated as having disposed of their assets (other than immovable prop
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Whites Excluded by Law in South Africa! Even Emergency Covid19 Relief Funds Withheld from Whites by the ANC Black Majority Government!

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“THE STRUGGLE” for Black Supremacy: The ANC regime have officially become what they allegedly fought against, by legislating race based regulations! Despite legal challenges, the Department of Tourism has announced that its “if you are white, you are out” assistance package, of R1, 2 Billion is to proceed and whites will officially be excluded!

Accusing the ANC of Black Supremacism, Dirk Hermann of Solidarity Trade Union has said that race – only giving opportunities to black people – is clearly a super right in South Africa, which is not even subjected to any lockdown.

This was Mr. Hermann’s reaction after Solidarity and Afriforum had a fruitless meeting with the Department of Tourism where they tried to persuade them to drop the exclusion of white owned small businesses from the Department of Tourism’s new assistance fund for the tourism sector of R 1,2 billion.

Solidarity and Afriforum’s meeting with the Department of Tourism happened on M
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ANC Socialists Successfully Make Another 1.5 Million People Unemployed, Making Them Dependent on ANC Welfare Grants! Communism 101

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The CCPvirus remains the gift that keeps giving for large corporations and anti small business communists the world over, especially in South Africa where another 1.5 Million people have become unemployed. From “big box” big name retailers who are making record profits selling online, and having their small business competition permanently put out of business in lockdowns, to despotic socialist regimes like the ANC, who want more people dependent on them for welfare handouts, so they can control every aspect of their lives (and coerce them to vote ANC). However demand for welfare and emergency funds are high, with stiff competition from corrupt ANC cadres and thieves making away with large portions of the emergency loan funds already!

While collectivist ideologues, the desperately poor and the black masses people might be happy with breadcrumb handouts, they once again fail to ask, who is paying for all the handouts and free stuff? You keep plucking at the golden go
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Breaking News: Framework Document Agreed for SONA Which Will “Voluntarily Mobilize Savings” To Allow ANC & Rothschild’s To Plunder Pension Funds!

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The liberal business body BUSA led by Rothschild’s, Trade Union Cosatu and the ANC regime have reached an agreement and have drawn up a framework document which will “voluntarily mobilize savings” like pension funds, to allow ANC, and Rothschild’s no doubt, to raid Public & Private Pensions to bail out Eskom from its R450 Billion self inflicted debt.

Business Day reported today that a framework document was drawn up on Thursday, by a joint committee consisting of the elitist wealthy fat cat groups, but apparently it still has to be officially approved by all the different parties. The hastily drawn up pension grab plan will be included in Ramaphosa’s State of the Nation speech (SONA) next week, which will once again probably reach the low mark African Parliaments are so well known for.

At this stage it looks like both private pension funds and the Government Employee’s Pension Fund (GEPF) will all be affected. The negotiator on behalf of BUSA was Martin King
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Taxpayers funds ANC government failures – the country is suffering while ANC cadres live in splendor

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“The goose that lays the golden eggs and who has to pay for the ANC’s failures – the taxpayer – can no longer,” says Wouter Wessels, FF Plus MP and chief spokesperson for finance.

“It is also not necessary for anyone to attend the Standing Committee on Budgets to see that the country is in big trouble because of the ANC’s wrong priorities over 25 years. The ANC has allowed public enterprises, departments and all levels of government being looted without any consequences whatsoever.

“The ANC itself admits the problems arose because of a lack of ability. This deficit is the ANC’s own making as the wrong people were appointed over 25 years, people who were not interested in working.”

“The adjustment budget is aimed at cutting spending, but it’s already too late for that.

An example of the ANC’s wastage is how Jackson Mthembu, the ANC’s then MEC for roads and transport in Mpumalanga, said in 1997 that the purchase of BMW cars for his provincial department was i
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Money Robbed from VBS Mutual Bank: detailed account of how EFF leader Julius Malema’s lifestyle, business prospects and political aspirations were funded

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ONE. The lifestyle, business prospects and political aspirations of EFF president Julius Malema were funded from the R16.1-million robbed from VBS Mutual Bank and paid out to Sgameka Projects, the company of the brother of EFF deputy president Floyd Shivambu, Brian.

Malema’s share of the loot was R5.3-million and it was dumped into his slush fund, Mahuna Investments. Malema spent the VBS money on clothing from Gucci and Louis Vuitton, groceries from Checkers and Woolworths, the Polokwane party venue Mekete Lodge, the house he once rented in Sandown, Johannesburg, as well as on accommodation and travel costs between EFF events. The name of his eldest son appears in the bank statements relating to school fees, and a trust named after his second son also received a small amount of VBS money. And yes, a big chunk of VBS money was used for the benefit of the EFF. Over 40% of the transactions Scorpio analysed further show the bank card followed Malema around the country
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Parasitic Parastatal Eskom, is holding the ANC hostage. Demands funds or else the whole of SA will suffer without power

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If there is no funding, there will be no change, and the ANC regime will be guilty party because he made the appointments in the power utility’s senior posts.

This is the opinion of a political analyst after Finance Minister Tito Mboweni announced that Eskom needed R59bn to remain operational.

The minister announced in Parliament what needs to be done to support the struggling Eskom, saying the amount of R59bn is needed.

This means that the ANC government has to transfer R26 billion this year, and R33 billion in the financial year to the “leech” entity.

The big argument is still being used to make Eskom too strong in its evil, by saying if it is not done, there will be no power in the country’s analysts.

Experts say Eskom can say they need R30bn in three years, and if not, there are no lights.

-Vryburger / 2019-07-24

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Cleaning project at Nelson Mandela Bay worth more than R5.8 million struggles to kick off, one can only imagine where taxpayers money disappear to if it is not being used for the original purpose, certainly into some very fortune politicians ‘wallet ?

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The Nelson Mandela Bay’s informal settlement were earmarked to undergo a “cleaning” project on November 1, 2018.

The so-called “clean & green” project would have created 200 temporary jobs. Initially, head of public health, Yolisa Pali disrupted the project as she was not familiar with the task. So the plan was postponed to December 1 and yet again it couldn’t start due to a shortage of workers and the attention was shifted to clean up beaches.

Questions are asked about the hundreds of unemployed people in the area and of course why the neighborhoods are so dirty and where are the funds currently?

Read the original article in Afrikaans on Die Vryburger
This report does not necessarily reflects the opinion of SA-news.

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