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The Tax Consulting Podcast
Welcome to the Tax Consulting Podcast, your trusted source for expert insights into South African tax matters.
Featuring a range of specialists from various departments across Tax Consulting South Africa, including legal, tax, and accounting professionals, each episode offers in-depth discussions on key topics such as expatriate tax, tax residency, SARS updates, compliance strategies, and more.
Whether you are an affluent individual, expatriate, or business, our podcast provides the knowledge and guidance needed to confidently manage your tax obligations, mitigate risks, and maximise opportunities.
The Tax Consulting Podcast
How SARS Quietly Collects Billions | SARS Bracket Creep Explained
South Africans are facing a hidden tax increase known as bracket creep, where rising salaries push earners into higher tax brackets because the tax tables have not been adjusted for inflation.
In this Moneyweb Now interview, Tanya Tosen, Tax and Remuneration Specialist at Tax Consulting South Africa, explains how SARS is projected to collect an additional R19.5 billion this year (R18 billion from income tax and R1.5 billion from medical aid tax credits) without changing the official tax rates.
Key Highlights
What bracket creep is and why unadjusted tax tables create it
How higher salary increases can push you into a higher tax bracket
The impact on take-home pay and cost of living
Why both employees and freelancers must monitor their own tax compliance]
#SARS #BracketCreep #IncomeTax