Graduates tip off Manuel about their tax and student loan burdens

By Staff Writer

From Business Report

January 17, 2008

By INGI SALGADO

With a month to go before finance minister Trevor Manuel
delivers his 2008/09 budget, the Tips for Trevor campaign is in full
swing. This year a big gripe is that graduates have to pay income tax
while they are still repaying student loans.

Secure a Personal Loan Today - let Justmoney show you how

Manuel said yesterday that he had received about half a dozen such
complaints, but he expected a flood of further correspondence as the
matter was now being highlighted.

He appealed to graduates: "We've heard the issue. Now help us crack
it ... We can't pay [loans] back on behalf of young graduates. We can't
have a differential tax because it is too hard to administer.

"Those are the constraints ... help us solve the problem."

Tips for Trevor kicked off in 2002 after Manuel was asked on a radio
show to talk to the citizens that his budgets affected.

He received 377 tips in the first year. Since then, about 2 000
suggestions have poured in, excluding co-ordinated campaigns.


Since the last budget speech, Manuel's office has ploughed through more
than 600 tips.Manuel insisted that he personally read all submissions.

One of the cheekiest tips he could recall was the call for a tax break
on lobola.

The tips provide colourful input into the lengthy budget talks of the
world's longest-serving finance minister.

Beyond that, Manuel said they provided "a pulse ... this is a very good
barometer of public opinion about the issues".

Although the budget for the 2008/09 fiscal year was largely complete,
there was room for "nuance", Manuel said.

On the stance he would take at an alliance summit on inflation-targeting
in March, he would only say: "I'll discuss that with the alliance before
It discuss it with the press."
 

Recent Articles

Featured What happens to the interest on your tax-free savings?

You may be interested in investing your savings in a tax-free savings account (TFSA). However, the amount you’re allowed to save in this kind of account is capped. So, what does this means for any interest you earn above the limit?

What does financial emigration entail?

Over the last couple of years, you’ve slowly been saving to move abroad. You’ve learned a new language, and mapped out all the places you plan to see. But should you take all your wealth with you?

6 Clever ways to spend your tax refund

After submitting your tax calculations to SARS, you may receive a tax refund. This is a tax break offered by SARS based on certain expenses. But what should you do with it? We have a look at six productive ways you can spend this money.

When to trade in your old car for a new one

You may have noticed that your car isn’t running as smoothly as it used to. This is particularly concerning if you’re hoping to sell it at a reasonable price, and buy yourself a modern alternative.

Deals

Full Body Massage at Meraki Beauty & Wellness Centre

Price: R99
When: Mondays to Thursdays
Where: Umhlanga

Archery and Drift Triking with Adventure Freaks

Price: R149
When: Mondays to Sundays
Where: Hartbeespoort

E-Bike Stellenbosch Wine Farm Tour and Wine Tasting

Price: R899
When: Tuesdays to Sundays
Where: Stellenbosch


Latest Guide

Guide to debt rehabilitation solutions