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Tue Dec 06 10:14:53 SAST 2016

Calculate how you pay tax while you work

Lenina Rassool | 2016-03-02 17:16:35.0
Pravin Gordhan. File photo.
Image by: flickr SA Government

When you're working to pay your taxes and help keep South Africa running, what are you actually paying for?

When you're putting in long hours at work, you're not just working for yourself. Unless you're breaking the law, you're also working to pay your share of taxes that help keep the country running.

But what are you actually paying for?

The Tax Clock, an online tool developed by Code for South Africa, a civic tech organisation that promotes informed decision-making for positive social change, offers an interesting view of your tax contribution.

It calculates minute by minute the time you spend contributing to government services such as education, health or national debt – and the time that you’re working for yourself.

Adi Eyal, director of Code for South Africa, says the Tax Clock is an opportunity for people to engage with the budget through the money they earn – and the tax they pay.

"When the budget comes out, people are usually only interested in how much they will be paying and if there are any rebates they can get. But they don’t engage with what the budget is really about," he said.

"The budget is a statement of intent by government that says what our priorities are, and what we are going to spend your money on. So it's important for people to understand what they are working for."

"The Tax Clock will show them how they have contributed toward things like education or helped pay off national debt in a day."

 

The Tax Clock incorporates up-to-date personal tax details from Finance Minister Pravin Gordhan's 2016 Budget speech delivered in Parliament on February 24.

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