This year, South Africa’s Tax Freedom Day falls on 12 May. This is the day on which the average South African taxpayer family has earned enough money to cover this year’s tax bill and can start spending money on themselves.
This has been calculated in association with the Free Market Foundation.
Tax Freedom Day is the day on which a nation and its taxpayers meet all types of tax liabilities for the current year. In other words, up to 12 May, we have worked for the State.
From 12 May, we will be working for ourselves, making it a great day to reflect on the how and why of taxes, and to look at all that has been achieved in the area of fiscal policy, and where there is room for further improvement.
