Brought to you by www.directaxis.co.za How many days of the year are you working for the Government? Happy Tax Freedom Day everyone Sout Africa Working for yourself Working for the government What Taxes do We Pay? Tax Freedom Day through the years Personal Income Tax Fuel levies Customs and excise duties Other VAT Corporate income tax Taxes in 2013/2014 Personal Income Tax % (out of 100 %) No. of Days (out of 141) 33.8% 47.7 days 6.8 days 37.9 days 11.6 days 8.9 days 28.2 days VAT Corporate income tax Fuel levies Customs and excise duties Other % (out of 100 %) No. of Days (out of 141) 26.9% % (out of 100 %) No. of Days (out of 141) 20% % (out of 100 %) No. of Days (out of 141) 6.29% % (out of 100 %) No. of Days (out of 141) 8.2% % (out of 100 %) No. of Days (out of 141) 4.8% Where does this tax come from? And how many days does it take to work off? Our taxes compared household to 250 200 150 100 50 0 22 Budget 2014: Education takes the biggest slice... How the money will be spent Sources http://www.pwc.be/en_BE/be/publications/2013/final_tax_freedom_day_2013_report.pdf http://beta2.statssa.gov.za/?p=944 http://mg.co.za/article/2014-02-28-00-tax-relief-favours-small-business http://www.sars.gov.za/Media/MediaReleases/Pages/1%20April%202014%20-%20Preliminary-Outcome- of-Revenue-Collection-for-the-2013-14-Fiscal-Year.aspx http://www.fin24.com/Budget/The-budget-in-5-charts-20140226 http://infogr.am/Tax-Freedom-Day-by-Country?src=web http://www.bdlive.co.za/opinion/columnists/2014/02/27/seven-out-of-10-for-facing-up-to-challenges-w ell-in-difficult-year https://www.facebook.com/FMFSA/posts/10151905007611260?stream_ref=10 RSA Sweden R899.7 billion was given in taxes in 2013/2014. In comparison, only R270 billion was spent on clothing, food and beverages (alcoholic and non-alcoholic), combined R270 billion R899.7 billion Direct Axis Guide: Tax Freedom Day Tax Freedom days United Sates Hungary Luxemborg The Netherlands United Kingdom Germany Italy Greece Belgium Norway France Denmark Sweden South Africa Austria Slovakia May 2010 2011 2012 2013 22.05.2013 05.05.2012 Tax Freedom Day has been arriving later because of rising taxes and slow economic recovery after recession. 100 150 0 50 200 250 300 253.8bn 180.0bn 42.8bn 145.7bn 144.5bn 142.9bn 115.7bn 57.3bn 47.9bn 18.7bn 3.0bn Budget total Average increase R1.25 trillion 9% General public services Education and related functions Economic affairs Health Social Protection Housing and community Public order and safety Defence Employment social security Science and technology Contingency reserve Increase/decrease in money allocated compared with last year 10 15 0 5 20 25 30 19.7% 12.3% 10.3% 9.9% 8.5% 7.7% 6.8% 5.9% 5.9% 5.9% -25% Housing and community Employment social security Social Protection General public services Health Economic affairs Science and technology Defence Public order and safety Education and related functions Contingency reserve 04.06 DE 07.06 IT 30.05.2013 UK South Africa 30.05.2012 19.06.2013 France 12.06.2012 07.06.2013 Italy 08.06.2012 04.07.2013 Sweden 30.06.2012 Brought to you by goods expenditure South Africa’s Tax Freedom Day 22 May is the Tax Freedom Day of 2014 – the 142nd day of the year. This is the day the nation has worked long enough to pay its taxes for the whole year. You spend 141 of 365 days working for the government in 2014. That’s 38.6% You will therefore have 224 days left to work only for yourself. You’re left with 61.4% to do with what you want. Corporate income tax rate was reduced from 40% to 28%. Top marginal rate for personal income tax was reduced from 45% to 40%. Total personal income tax relief amounted to R139 billion. There were 1.7 million registered taxpayers in 1994. There are now over 13.7 million registered taxpayers. Tax revenue increased from R113.8 billion in 1994, to R899.7 billion. and South Africa tax TAX All facts are for the 2013/2014 Fiscal Year