Here's how much more it will cost to braai with the VAT increases

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.

Read: Here's how sugar tax will work come 1 April (and it's no April Fool's joke)

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


Recommended

by NEWSROOM AI
Read More
Sars fails to reach tax collection target

Sars fails to reach tax collection target

Tax expert says it's down to a growing tendency of companies to withhold VAT and PAYE.

How will the VAT hike affect you?

How will the VAT hike affect you?

Finance expert Frank Magwegwe says it's time to rethink how we approach spending.

VAT rate goes up to 15% on Sunday (yet remains among the world's lowest)

VAT rate goes up to 15% on Sunday (yet remains among the world's lowest)

The Money Show’s Bruce Whitfield interviews Charles de Wet, partner at PwC.

Shoprite Group steps up to help NGOs save ahead of 15% VAT increase

Shoprite Group steps up to help NGOs save ahead of 15% VAT increase

Assistant CSI manager at Shoprite, Lunga Schoeman explains how the Shoprite ActForChange card designed for NGOs works.

[Listen] How will VAT hike affect your existing contracts?

[Listen] How will VAT hike affect your existing contracts?

VAT goes up 1 percentage point from 1 April. Paul Roelofse explains how the increase will affect existing contracts.

Popular articles
[Watch] SA choir stuns with isiZulu cover of Ed Sheeran’s ‘Shape of You’

[Watch] SA choir stuns with isiZulu cover of Ed Sheeran’s ‘Shape of You’

Khabazela shares some of the most popular tweets, posts, and videos on 'What's gone Viral'.

How to pay up to 45% less tax (and save the SA economy while you’re at it)

How to pay up to 45% less tax (and save the SA economy while you’re at it)

The Money Show’s Bruce Whitfield interviews Darryn Faulds, a fund manager at Grovest Group.

10-year-old maths whiz Sbahle Zwane gets a scholarship from Curro school

10-year-old maths whiz Sbahle Zwane gets a scholarship from Curro school

Azania Mosaka catches up with Sbahle Zwane's mother to hear about developments with his schooling.

Is the ANCYL still relevant and who is likely to take over the leadership reins?

Is the ANCYL still relevant and who is likely to take over the leadership reins?

Former ANCYL spokesperson and eNCA political reporter Samkele Maseko discuss who is up for the new ANCYL leadership.

'It's unacceptable that government officials pay R75 for luxury apartments'

'It's unacceptable that government officials pay R75 for luxury apartments'

IFP national spokesperson Mkhuleko Hlengwa says the party is calling for a review of these rates that are a cost to taxpayers.

[WATCH] Sars boss confusing, evasive testimony at Nugent Commission

[WATCH] Sars boss confusing, evasive testimony at Nugent Commission

Khabazela shares some of the most popular tweets, posts, and videos on 'What's gone viral'.

Getting drunk improves creative problem solving - Harvard Business School

Getting drunk improves creative problem solving - Harvard Business School

Bruce Whitfield asks branding and advertising expert Andy Rice about a peculiar study that has creatives reaching for the tequila.