Questions raised over proposed tax change for South Africa

Questions raised over proposed tax change for South Africa
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National Treasury is proposing an alteration to the Income Tax Act that will remove the ability of thousands of low income South African families to receive tax exempt bursaries for their children.
The families currently benefiting from this are majority black, low-income households and this alteration, should it go ahead, will severely impact thousands of families’ ability to pay for quality education, especially significant in a post-Covid-19 economy.
Tax expert Vedika Andhee, said: “Covid-19 has devastated our economy. Dual income households have become ‘single’ income’ or ‘no income’ households. Fortunately, as is the culture in South Africa, irrespective of how difficult their own circumstances, where employed family members can assist, they readily step up.

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