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The South African
21-05-2025
- Business
- The South African
South African workforces devote one-third of salary and time to TAX
South African workforces are being completely buried by their tax obligations in 2025. Even with the National Treasury's VAT increases successfully sidestepped in the High Court, South African workforces are still under the pump. This is according to the Free Market Foundation (FMF), which recently released some sobering statistics as part of unofficial 'Tax Freedom Day.' The day it marked for this campaign was Friday 16 May 2025. And for very good reason … Thanks to this man and his department, 136 days of your year are devoted to their inconsequential government spending. Image: File The FMF says 37% of South African workforces' time and money goes towards government taxes. That equates to 136 days given purely to fulfilling tax obligations and government spending. And that is why Friday 16 May is unofficial 'Tax Freedom Day' in South Africa. You have effectively worked the whole year so far just to fund government spending. And you only start earning money for yourself from this week (19 May 2025) onwards. The FMF calculates this amount by adding up taxes like VAT, PAYE, fuel levies, and all other forms of indirect taxation … including inflation. The Finance Minister's entire premise for increasing VAT was to fund increasing SASSA grants. But what now with Budget 3.0? Image: File Moreover, by taking government's total expenditure as a percentage of the country's economic output (GDP), and multiplying it by 365 days, you get a brilliant illustration of the total tax burden facing South African workforces. The two highest spends of government budget currently are debt financing of deficits and social welfare grants. 'Effectively, every Rand you earn until mid-May goes to taxes, before you can spend it on your family, home, or hopes and dreams. Taxes don't just take money away, they shrink opportunities. Taxing earnings and buying reduces jobs and drives up prices, hitting South African workforces hardest,' says FMF Senior Associate Professor Richard Grant. Planning for retirement is harder than before, because South Africans are poorer than they were in 1995. Image: File Fascinatingly, the FMF has tracked 'Tax Freedom Day' for four decades. And it is occurring later each year. For example, in 1995, if fell on 23 April, significantly earlier than the 16 May of this year. This equates, in tax burden terms, to a jump from 30% in 1995 to 37% in 2025. 'Higher tax means less money for South African workforces. And our tax burden is already among the highest for a developing country. Meanwhile, economic growth is slowing and many feel they're getting little in return for their efforts. For four-and-a-half months' work we do for the state – and trillions of Rands handed over without question – what do we have to show for it?' Grant questioned. Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1. Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news.
Yahoo
18-05-2025
- Business
- Yahoo
Newpark REIT Full Year 2025 Earnings: EPS: R0.36 (vs R2.22 loss in FY 2024)
Revenue: R132.8m (up 1.5% from FY 2024). Net income: R36.1m (up from R222.3m loss in FY 2024). Profit margin: 27% (up from net loss in FY 2024). The move to profitability was primarily driven by lower expenses. EPS: R0.36 (up from R2.22 loss in FY 2024). AI is about to change healthcare. These 20 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10bn in marketcap - there is still time to get in early. All figures shown in the chart above are for the trailing 12 month (TTM) period Newpark REIT's share price is broadly unchanged from a week ago. We should say that we've discovered 5 warning signs for Newpark REIT (3 are significant!) that you should be aware of before investing here. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
The Citizen
16-05-2025
- Sport
- The Citizen
Pot of gold awaits Proteas if they win Test final: How much money is at stake
The final is to take place at Lord's next month between South Africa and Australia. The Proteas players are in line to bank a few million Rands, win or lose the Test Championship final. Picture: Richard Huggard/Gallo Images It might not be quite what some of the players earn individually in tournaments like the Indian Premier League, but the winners of the upcoming World Test Championship final, to be played at Lord's next month, are in for a big pay day. The final will be contested between South Africa and Australia, who finished in the top two positions following the latest ICC Test cycle, which ran from 2023 to this year. The teams that finished third to ninth will also pocket very decent prize money from the International Cricket Council. This year's final will be played at Lord's in London from June 11 to 15. 'Mega fixture' The winners of the match will take home a purse of $3.6 million. In rand terms that is R65 million. It is more than double ($1.6 million) what New Zealand (2021) and Australia (2023) earned after winning the previous two Test finals. The losing finalists will bank $2.1 million, which is R38 million. This is also significantly more than what the previous runners up took home, namely $800,000. Proteas Test captain Temba Bavuma said he and his team were pleased to have qualified for the final. 'Everyone understands the importance of Test cricket and the World Test Championship lends context to this vital format of the game. Lord's is a fitting venue for this mega fixture and all of us will be out there trying to give our best against Australia,' Bavuma said. 'The anticipation is increasing with less than one month to go, and I am sure fans around the world would be following the fortunes of both teams come 11 June.' The South African and Australian squads were recently announced for the final. Both teams will look to get some quality preparation in before the match at Lord's as both have played only white ball cricket this year. The Proteas are scheduled to face Zimbabwe in a four-day match in the coming weeks to prepare for the final. Prize money: First/winners: $3.6 million Second/runners up: $2.16 million Third: India $1.44 million Fourth: New Zealand $1.2 million Fifth: England $960,000 Sixth: Sri Lanka $840,000 Seventh: Bangladesh $720,000 Eighth: West Indies $600,000 Ninth: Pakistan 480,000
The Citizen
14-05-2025
- The Citizen
Police find underground drug lab in Standerton
Police uncovered another drug lab in Rooikoppen farm, Standerton, today, May 14. This comes just over a month after two clandestine laboratories in Mahonie Street and Rooikoppen farm, as well as a warehouse with chemicals believed to be used in manufacturing of drugs were found. According to the Mpumalanga spokesman for the Hawks, Lieutenant Colonel Magonseni Nkosi, these three sites were all active crime scenes until the service of the cleaning company was appointed through the assistance of the Hawks Serious Organised Crime Investigation, Hawks Supply Chain Management and Standerton SAPS to clean and purify the areas. 'The Hawks Secunda based Serious Organised Crime Investigation received information before the cleaning process could commence that underneath one of the containers, there was an entrance to the underground laboratory. 'The Hawks Serious Organised Crime Investigation followed up the clues and identified the underground entrance.' Nkosi said machinery believed to be used in the illegal manufacturing of drugs, drums, and plastic containers filled with substances were recovered. The Hawks can not confirm the value of the recovered equipment and chemicals pending further investigation. 'Currently, the scene is under police guard to allow the Forensic Science Laboratory (Chemistry) to analyse the recovered machinery and substances,' said Nkosi. Two South African nationals and six Mozambican nationals are still behind bars following their arrest on the first two recoveries. Eleven vehicles, including high-performance luxury vehicles and millions of Rands, were seized in April. The Mpumalanga Provincial Head of the Directorate for Priority Crime Investigation, Major General Nico Gerber, applauded members for following up on the information and uncovering further drug consignments. The Hawks will leave no stone uncovered to dismantle the enterprise and the associated structures. At Caxton, we employ humans to generate daily fresh news, not AI intervention. Happy reading!
The Citizen
04-05-2025
- Politics
- The Citizen
#TwoBits: Mayoral absence does not make the heart grow fonder
Dolphin Coast residents are fed up. Over season and the New Year they suffered 83 days of power cuts in addition to the normal mode of numerous blacked out streetlights, traffic lights not working, potholed streets and, and, and. Mayor Muzi Ngidi called an imbizo to explain his council's budget. So the residents showed up – more than 600 people, the largest turnout ever in local history. The Umhlali school hall overflowed, they stood in the rain to hear explanations for KwaDukuza's poor performance. But the mayor was not there. He wasn't well, officials said. Strangely enough, he had been in full health throughout the day at council, according to numerous witnesses. Then he developed this mysterious illness. Shem. The deputy mayor and officials then proceeded to conduct a constructive meeting, but many residents said the mayor's no-show was disrespectful. It was brought to the attention of the meeting that council is refusing to meet with the Dolphin Coast civic body, Doccra. That is a great pity. The residents' association has worked long and hard to form a constructive relationship with council. On what grounds the relationship has foundered is unclear, though it is suspected that internal ANC politics is at the root. The simple truth is that Docrra represents 30 000 households, which contribute more than a couple of billion Rands to council coffers. Is it asking too much to be civil to your biggest customer? KwaDukuza's erratic leadership is already under close scrutiny from the electricity regulator, Nersa, and the local government ministry, Cogta. Not helped by the – oops! – theft of R35.7 million from council earlier this year. The ANC in iLembe district is on very shaky ground. In round figures, uMkhonto weSizwe (MK) party took 45 percent of the vote last year, from zero, compared to the ANC's 17 percent, down from 54 percent. That is a massive kick in the pants. The region's general population have already given the ANC the thumbs down for arrogance and poor service delivery. Expect more of the same in the 2026 local government elections if they don't smarten up. To change the subject slightly and give some light relief, wasn't it mind-boggling to listen to all the political parties squabbling over who was responsible for stopping the VAT increase! Looters running out of shopping malls with TVs on their heads do so with more dignity. The cherry on the cake was Mr Fixf*k*l Mbalula saying that the ANC had been against it! I suppose if you lie enough, someone will believe you. In my view, the DA and the EFF were solely responsible for stopping it. Never thought I'd agree with anything Julius did. But he did save his reputation right after that by proposing that Treasury get extra cash with an 'apartheid wealth tax'. Yeah right, Ju-Ju! * * * Where do bad rainbows go? To prism. It's a light sentence, but it gives them time to reflect. Stay in the loop with The North Coast Courier on Facebook, X, Instagram & YouTube for the latest news. Mobile users can join our WhatsApp Broadcast Service here or if you're on desktop, scan the QR code below. At Caxton, we employ humans to generate daily fresh news, not AI intervention. Happy reading!
