The recent budget update reveals a challenging economic environment for South Africans, with many households struggling to stay afloat.
SARS Feels the Strain as Tax Collections Drop
SARS has seen a noticeable jump in requests for payment extensions, suspensions, and final notices, which shows just how much pressure South Africans are feeling financially. Many people are struggling to keep up with their tax commitments, highlighting the tough economic reality facing taxpayers today.
Neil Roets: Growth Isn’t Enough to Make a Difference
Neil Roets, CEO of Debt Rescue, voiced concerns over the low economic growth rate, stating that a modest 1.8% increase isn’t enough to ease the burden for most South Africans. With living costs rising steadily, Roets highlights the need for more substantial support to help improve the financial well-being of struggling households.
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