Cape Town - Tax remains one of the most popular topics on consumers' minds as they brace for Finance Minister Nhlanhla Nene's maiden National Budget.
Fin24 has been inundated with tax tips for Nene ahead of his budget address at 14:00 on Wednesday.
Not only do these Fin24 users give tips, but they also make some creative suggestions on how Nene should use tax to create economic stimulus on various fronts.
READ: Nene faces toughest budget yet
School fees
"Why not consider making school fees tax deductible - even if only for government and Model C schools," asked Fin24 user Justin Brophy.
He suggested a system whereby the fees become a tax deductible expense or a rebate, but on certain conditions, for example ensuring school attendance.
Sin taxes
Fin24 user Maredi would like to see a 50% excise duty on alcohol.
"Botswana managed that and the nation is on track soon to overtake SA, at this rate, in a whole range of performance indicators," he wrote.
"It can help to reduce accidents and create healthy and fit citizens. The country needs good productivity and less absenteeism. Our students will study more rather than spending hours quaffing alcohol."
He said the crime rate caused by substance abuse, including alcohol, will decline in the long run.
Fin24 user P Schoultz would also like to see heavy ("and I mean heavy") taxes on cigarettes and liquor, because he regards these as health risks.
Pensioners and the poor
He would also like to see more tax relief for pensioners, increased grants for the poor and would be happy with a super tax for those earning more than R1.5m per year.
He would, furthermore, not like to see a change in the tax status of disabled citizens.
He is also happy with higher taxes on fuel as it is very broad based and easy to collect.
READ: Nene unlikely to escape controversy in budget
VAT
On VAT, Schoultz would like to see it increased to 15% on everything except on basic foods and he is in favour of high tiered capital gains tax in line with current rulings as stipulated in current tax legislation.
Fin24 user Thami would, however, like Nene to keep VAT at the current 14% rate and consider a revision of zero rated goods.
Thami would also like to see an increase the capital gains tax "to balance the rich/poor dynamics".
Foreigners
Fin24 user Surein called for stricter controls on taxes to be paid by foreigners who work in South Africa, including mine workers and shop owners.
"I say all who earn an income in this great land of ours, should contribute to the upkeep of this land by paying their fair share of taxes," he wrote.
ICT
Fin24 user Vuyisa Qabaka would like to see more tax incentives to grow a sustainable ICT and knowledge sector in SA.
He proposed a 20% digital interactive media and software development refundable tax credit to help traditional and digital companies of all sizes gain a competitive edge.
"Encourage township investment by extending the Urban Development Zone (UDZ) tax incentive to peri-urban communities, promote urban development and regeneration through accelerated depreciation allowance for UDZ new building constructions or refurbishment of existing buildings," he suggested.
This could include a R50 000 tax credit for each new job created and either a 5% tax rebate on capital expenses or a 20% refund on capital investment over two years for investments into peri-urban communities and a 100% property tax exemption for up to five years on light industrial or manufacturer's new investment.
ALSO READ: Nene told to think outside the box on tax
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