Budget 2021

Judge Dennis Davis: SA's super rich likely not bitter over tax hike but …

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Judge Dennis Davis
Judge Dennis Davis

Cape Town - Amid fears of South Africans skipping the country over the new tax rate for individuals earning over R1.5m, Judge Dennis Davis reckons these high income earners likely have no qualms with the hike.

However, their gripe is probably with how the tax funds are used, said Judge Davis, who is the chair of the Davis Tax Committee, at a KPMG event discussing the National Budget Speech.  

“I’m sure that most people don’t mind to pay the new 45% bracket, but at the same time, I’m certain that you also wish for the money allocated to do specific work, to actually do specific work and not enrich the elite few."

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