I CANNOT see how Taxed Out can describe our tax system as “antiquated” – it is actually an international award winner with many countries now adopting this concept.
However, the comment that ‘the more you earn the more you spend the more tax you pay’ is only true in respect of VAT which is a fair tax to most people and is aimed to spread the tax burden of the citizens of the country except in the case of low income earning and the jobless hordes who should be allowed some relief on basic items.
The rest of us have to also pay taxes on income earnings and business profits.
The fact that you (small businesses) and other individuals decide to choose to spend ‘millions of hours’ doing your own income tax returns is totally unnecessary as there a many tax practitioners available to assist for a very reasonable to sort these requirements out for you on a monthly (PAYE /UIF) or bi-monthly (VAT) and annual (ITR 12 & ITR 14) basis.
These tax practitioners have to do CPD training every year and are controlled by the professional institutions for ensure this practice is adhered to.
I would boldly suggest that you make use of these facilities offered by professionals who will help you ensure that you receive all the allowances and expenses allowed by the Income tax system and leave you to focus on what you are (hopefully) successful with which is your business activity.
Chartered Accountant (SA)
Gillitts
