TEXTBOOK PG 163

NOTES PG 15,16
 This is the total amount
of income available to the
government from the
collections of different
taxes that must be paid
for by the South African
tax payers.
 Dit is die totale
hoeveelheid inkomste
beskikbaar aan die
staat uit invorderings
van verskillende
belasting wat aan die
belastingbetalers van
Suid-Afrika betaal
moet word.
  Die inkomste word
gebruik om sosiale en
 The revenue is used
to fund social and ekonomiese
economic programme te befonds
programmes and to en om publieke dienste
provide public te verskaf soos skole,
services such as universiteite, hospitale,
schools, universities,
hospitals, clinics and klinieke en paaie en
roads, as well as ook verdediging en
defence and security. sekuriteit
 The Minister of Finance
presents a budget once a
year in which he outlines
the total government
expenditure for the
following financial year.
Explains how much tax
needs to be paid to cover
this expenditure.
 The South Africa Revenue
Service (SARS) collects all
taxes paid and it is
handed over to the
National Treasury to
distribute to government
departments, provincial
and local government.
 Die Minister van Finansies
stel een keer per jaar ‘n
begroting voor waarin hy
die totale
owerheidsbesteding vir die
volgende boekjaar
uiteensit. Verduidelik
hoeveel belasting betaal
moet word om hierdie
uitgawes te dek.
 Die Suid-Afrikaanse
inkomstediens haal alle
belasting wat betaal is op,
en dit word aan die
Nasionale Tesourier
oorhandig om aan
provinsiale en plaaslike
regerings aan
regeringsdepartemente te
versprei
E.g. income tax and property tax. / Bv. Inkomste
belasting of eiendombelasting
 Based on the principle that people should contribute
to the wealth of the state to the same extent as they
are able to contribute to their own wealth / Baseer
op die beginsel dat mense moet bydra tot die
rykdom van die staat soos wat hulle bydra tot hulle
eie rykdom
Definition: / Definisie

A tax levied on all income and profit

that a taxpayer receives. / Belasting
gehef op alle inkomste en wins wat ‘n
belastingbetaler ontvang
 Taxpayers are  Belastingbetalers is
individuals, companies individue, maatskappye
and trusts. of trusts.
 Income tax is the  Inkomste belasting is die
government’s main regering se hoofbron van
source of income inkomste
 The tax year begins on 1  Die belastingjaar begin 1
March and ends on Maart en eindig 28/29
28/29 February. Feb
 The amount of tax  Die hoeveelheid belasting
payable wat betaalbaar is, word
to government is bereken deur
calculated
belastingstabelle, wat
from tax tables, which jaarliks hersien word
are revised annually.

 There is a tax threshold (level
above which income is taxable)
 At the end of the tax year, SARS
sends you an income tax return,
which must be completed and
returned.
 This can be done electronically
and is called e-filing. It is a free
online service.
 Once your tax return has been
received, SARS will determine
whether enough tax has been
paid
 Tax must be paid on interest
received e.g. from investments,
rental from property, etc.
 Refunds for expenses such as
medical expenses and costs of
running a business
from home could be applicable.
 Daar is ‘n belastingdrempel (vlak
waarbinne inkomste belasbaar
is)
 Aan die einde van die
belastingjaar, stuur SARS vir jou
‘n inkomstebelastingsopgawe,
wat voltooi en ingedien word
 Dit kan elektronies gedoen word,
word e-filing genoem. Gratis
aanlyndiens
 Wanneer jou belastingopgawes
ontvang is, sal SARS bepaal of
genoeg belasting betaal was.
 Belasting moet betaal word op
rente ontvang bv. Beleggings,
huur van eiendom ens.
 Terugbetalings vir uitgawes soos
mediese uitgawes en kostes om
‘n besigheid van die huis af te
bestuur kan van toepassing
wees.
 This is the employee tax
that employers deduct
form the balance of an
employee’s full time
employment income in
excess of the tax
threshold for a year.
 This amount is deducted  Hierdie bedrag word
from the employee’s
monthly remuneration
calculated from tax tables
and paid to the Receiver
of Revenue.
 Dit is die
werknemersbelasting wat
werkgewers aftrek van
die balans van ‘n
werknemer se voltydse
diensinkomste wat die
belastingdrempel vir ‘n
jaar oorskry.
afgetrek van die
maandelikse vergoeding
van die werknemer
bereken op
belastingstabelle en aan
die Ontvanger van
Inkomste betaal
Definisie: Dis ‘n sisteem wat
op toepassing is vir
belastingbetalers met
ongereelde inkomste
 Voorbeeld: boere,
besigheidseienaars en
mense met inkomste
anders as normale salarisse
 Die doel is om
belastingbetalers te help
om belasting in die vorm
van twee paaiemente te
betaal gedurende die jaar
 Finale laste word dan
bereken tydens assessering
Definition: This is a
system that applies to
taxpayers with irregular
incomes
 Example: farmers, business
owners and people
with income other than their
regular salaries.
 The aim is to help taxpayers to
pay their tax in the form of
two payments made from
income received during the
tax year
 Final liability is then
determined upon assessment.
 Owners of any kind of property
e.g. residential, commercial,
agricultural must pay taxes.
 Taxes on ownership of property
(land and buildings)
 Set by the municipality and based
on the market value of the property
 Charges differ from area to area
but usually about 1% of value of
property.
 Must be paid monthly to the local
municipality which uses money to
fund the services it
provides the community.
 Eienaars van enige soort eiendom bv.
Residensieel, kommersieel, landbou
moet belasting betaal
 Belasting op eienaarskap van eiendom
(grond en geboue)
 Bepaal deur die munisipaliteit en
gebasseer op markwaarde van
eiendom
Verskil van area tot area maar is

gewoonlik omtrent 1% van eiendom se
waarde
 Word maandeliks aan die plaaslike
munisipaliteit betaal wat geld gebruik
om dienste aan die gemeenskap te
verskaf
Tax evasion exists
when people use
illegal methods to reduce
their tax liability e.g. they
do not declare their full
income or deduct more
tax than they are allowed
to. If caught they can do
jail time for fraud or pay
large fines.
TAX EVASION
Tax avoidance is a
means of reducing the
amount of tax you pay
through good financial
planning, e.g. taking out
a retirement policy. This
is a total legal way of
paying less tax
TAX AVOIDANCE
Belastingontduiking Belastingvermyding is ‘n
bestaan as mense
onwettige metodes gebruik manier om die belasting
om hul wat u betaal deur goeie
belastingaanspreeklikheid finansiële beplanning te
te verminder bv. Hulle
verklaar nie hul volle verminder bv. Om ‘n
inkomste of trek meer pensioenfonds uit te
belasting af as wat hulle neem. Dit is ‘n wettige
mag nie. As hulle gevang
word, kan hulle tronkstraf manier om minder
of groot boetes betaal. belasting te betaal

BELASTINGONTDUIKING BELASTINGVERMYDING
These are taxes Dit is belasting wat
hidden in the price of verskuil is in die prys
goods and services, so van goedere en
we are not aware of dienste, dus weet ons
how nie hoeveel belasting
much tax we are ons betaal nie. Byna
paying. Nearly a third 'n derde van die
of the government’s regering se totale
total revenue comes inkomste kom van
from indirekte belasting.
indirect taxes.
 BTW (Belasting op
VAT (Value added tax)
toegevoegde waarde)
= Added to the price of = Prys wat by goedere
goods and services that en dienste gevoeg word
businesses sell to wat besighede aan
consumers klante verkoop
Exempted items: Vrygestelde items:
 Goods/Services on Goedere/Dienste waarop
which VAT is not daar nie BTW gevoeg
charged word nie
 AKSYNS-/SONDE BELASTING
 EXCISE DUTY also called SIN TAX
BRANDSTOFHEFFING
 Dit word betaal op elke liter
petrol en diesel wat in Suid-
Afrika verkoop word.
 Dit sluit 'n heffing in wat aan
die Padongeluksfonds
betaalbaar is.
 Die heffings op brandstof
maak 30% van die
petrolprys uit.
 FUEL LEVY
 This is paid on every litre of
petrol and diesel sold in
South Africa.
 It includes a levy payable to
the Road Accident Fund.
 The levies on fuel make up
30% of the petrol price.
 This is the cost of borrowing
money. It is the amount that
financial institutions or credit
providers charge for the use
of the money.
 The amount of interest
charged depends on the
amount of money borrowed
 Dit is die koste om geld
te leen. Dit is die bedrag
wat finansiële instellings
of kredietverskaffers vra
vir die gebruik van die
geld.
 Die bedrag rente wat
gehef word, hang af van
die hoeveelheid geld wat
geleen is
 Simple interest is  Enkelvoudige rente word
calculated on the op die hoofbedrag van 'n
principal amount of a lening bereken.
loan.  Geen rente word betaal
 No interest is paid on op rente wat gedurende
interest received during die tydperk van die
the time of the loan. lening ontvang word nie.
 Simple interest is usually  Enkelvoudige rente word
used for shorter-term gewoonlik vir
loans. kortertermynlenings
gebruik.
 COMPOUND INTEREST
 This is when interest is
charged or paid on the
original amount borrowed
plus the interest to date.
 This addition to the original
amount is called compounding.
 So compound interest is interest
that is added back onto the
original amount
 Compound interest may be
calculated monthly, quarterly,
semi-annually or yearly.
 SAAMGESTELDE RENTE
 Dit is wanneer belasting
gehef is en betaal op die
oorspronklike bedrag geleen
plus die rente tot op datum.
 Hierdie toevoeging tot die
oorspronklike bedrag word
samestelling genoem.
 Dus is saamgestelde rente
rente wat by die
oorspronklike bedrag
teruggetel word
 Saamgestelde rente kan
maandeliks, kwartaalliks,
halfjaarliks ​of
jaarliks ​bereken word.
Wat is inflasie?
 Dit is die gemiddelde
toename in pryse van
goedere en dienste in 'n
jaar.
 Die inflasiekoers word as
'n persentasie styging in
pryse oor 'n jaar uitgedruk.
 Die koopkrag van geld
(koopkrag) is die waarde
van geld, gemeet aan
hoeveelheid en gehalte
van produkte en dienste
wat dit kan koop.
What is inflation?
 It is the average increase in
prices of goods and
services in a year.
 The rate of inflation is
expressed as a percentage
increase in prices over a
year.
 The purchasing power of
money (buying power) is
the value of money, as
measured by quantity and
quality of products and
services it can buy.
 INFLASIEKOERS  INFLATION RATE
 Persentasie waarteen  Percentage at which the
die prys van goedere en price of goods and
dienste toeneem services increases
 Hoe hoër die  The higher the rate of
inflasiekoers hoe minder inflation the less the
die verbruiker met consumer can purchase
dieselfde hoeveelheid with the same amount
geld of money
 kan koop
 CPI (Consumer Price Index)
Definition:
 This measures changes in the price of
goods and services over a specific
period.
 It is used to measure changes in the
economy as well as changes in the
standard of living.
 CPI is the measure that helps you
determine the increase in prices
 It uses a “basket of household goods”
and keeps track of the change in
prices of
 these goods over a specific period of
time
 It is expressed as a percentage
 The Reserve Bank uses the CPI to set
the level of interest rates.
 VPI (Verbruikersprysindeks)
Definisie:
 Hierdie maatreëls verander in die prys
van goedere en dienste oor 'n
spesifieke tydperk.
 Dit word gebruik om veranderinge in
die ekonomie sowel as veranderinge
in die lewenstandaard te meet.
 VPI is die maatstaf wat u help om die
styging in pryse te bepaal
 Dit gebruik 'n "mandjie huishoudelike
goedere" en hou die
prysveranderinge
 van hierdie goedere oor 'n spesifieke
tydperk tred
 Dit word uitgedruk as 'n persentasie
 Die Reserwebank gebruik die VPI om
die rentekoersvlak te stel.