Ina Opperman
Business Journalist
5 minute read
22 Jan 2021
12:00 pm

Is it time for a wealth tax in South Africa?

Ina Opperman

Before any attention is spent on a further wealth tax, government should show South Africans what steps it will take to drastically curb expenditure, says an independent tax lawyer,.

Picture: AFP/File/Said Khatib

Wealth tax has always been a contentious issue in the country, even as South African wealth inequality has remained significantly higher than in France, UK, US, China, Russia and India. Now that the Covid-19 lockdown and relief measures are having severe impacts on public debt, while reducing expected tax revenues and increasing necessary expenditure, is it time for a wealth tax? Public debt is likely to spike to hazardous levels and even with the rescue financing, South Africa’s capacity to repay debts needs to be supported, researchers from the Southern Centre for Inequality Studies (SCIS) at Wits University, the Université...