South Africans will be paying a bit more for a range of things now that the extra 1 percentage point for VAT is in place.
With a long weekend coming up at the end of the month, we found out how the VAT increase will affect households.
Tax consultant at Mazars, Tertius Troost has worked out how much tax one will be paying for a braai on a budget of R600, which is what most South Africans do over long weekends.
On a budget of R600, your are likely to pay tax of about R182. This includes sin tax on alcohol, sugar tax on cold drinks as well as plastic bag levy. And if you are driving to the braai, there's also an addition fuel tax that you will be paying.
These indirect taxes, as we call them, sometimes have been outstripping inflation...— Tertius Troost, Tax Consultant
A very interesting point is that the amount of money that you are using to pay for this braai is after tax money.— Tertius Troost, Tax Consultant
To hear the rest of the conversation on tax, listen below:
This article first appeared on CapeTalk : Here's how much more it will cost to braai with the VAT increases