South Africa has three spheres of governments that receive a budget in terms of the annual division of revenue act.  R968 billion was allocated to these spheres in 2011/12 financial year.  The daily newspapers are filled with countless reports of maladministration by government officials stealing and committing fraud with money that has been entrusted to them. The democracy that was brought in 1994 is apparently not helping with realisation of a better life for all.  The continuous looting of government resources continues unabated to the point that the youth are beginning to believe that "if you can't beat them, join them".  The society's moral fibre is being eroded to a point that economic thugs are celebrated due to the material gains that they have from government coffers.

 The Land Value Taxation Project seeks to bring about economic democracy so that the citizens begin to vote funding instead of only hearing about decisions that have been taken by the executive to their financial detriment.  It is hoped that through this project, the people will begin to influence developments in the upper sphere of government through their allocations made at the municipal sphere.  This sphere of government will begin to allocate resources upwards instead of the current situation when it has money send downwards by the national government.  Government will begin to be that of the people in financial terms.  The income taxes will need to be reduced in favour of only land value taxation that is collected by the municipal sphere.

The myriad of Income Taxes that are currently levied are as follows:

Air Passenger Tax (APT)

Capital Gains Tax (CGT)

Corporate Income Tax (CIT)

Diamond Export Levy

Dividends Tax

Donations Tax

Estate Duty

Excise Duties and Levies  

Income Tax (IT)

Mineral and Petroleum Resource Royalty

Pay As You Earn (PAYE)

Provisional Tax

Retirement Funds Tax

Secondary Tax on Companies (STC)

Securities Transfer Tax (STT)

Skills Development Levy (SDL)

Stamp Duty

Transfer Duty

Turnover Tax

Uncertificated Securities Tax

Unemployment Insurance Fund (UIF)

Value Added Tax (VAT)

 

Living in the age of consequence - where modern finance represents the triumph of technical proficiency over social responsibility – groups of talented people, business starters, writers and leaders are mobilised to put an end to practices they do not believe in. We support this aim in comradeship with other Renegade Economist throughout the planet.

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