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 The real tax benefits of retirement annuities

We all know that having a retirement annuity (RA) helps us to retire comfortably and with dignity. But what many people miss are the tax benefits that are linked to an RA.

Request your credit report from the right bureau

With so many different credit bureaus in South Africa, it may be difficult to decide from which one to request your credit report. We have a look at what you should be aware of when selecting a credit bureau.

Applying for a home loan? Consider the repo rate

When you apply for a home loan, one of your top priorities should be to secure a low interest rate. In order to achieve this, you need to be familiar with the repo rate. We find out more about this.

Effective financial planning as a single parent

As a single mom or dad, it can be challenging to keep up with the ever-increasing expenses of raising a child. We have a look at the importance of setting up a budget as a single parent.

Deals

The President Hotel’s Sunday Lunch Special

Price: From R250
When: From 30 January 2022
Where: Cape Town

The Vineyard Summer Special

Price: Available on request
When: Until 28 February 2022
Where: Cape Town

Pure Day Spa Laser Treatment Special

Price: Available on request
When: Thursdays
Where: Durbanville


Latest Guide

Guide to debt rehabilitation solutions