INSIDE YOUR POCKET: Take-home pay positive, but storm clouds gathering for tax payers

Loading player...
GUEST - Shergeran Naidoo, BankservAfrica’s head of stakeholder engagements.



Take-home pay showed a year-on-year increase, continuing its upward movement in January as the high rate of inflation moderated, providing relief to salary earners. However, stormy clouds are on the horizon, particularly for tax-paying South Africans.



According to the BankservAfrica Take-home Pay Index (BTPI), the nominal average take-home pay was R15 670 in January, representing a 9.1% year-on-year increase although it was off a low base and showed a 1.5% growth on the R15 533 recorded in December, says Shergeran Naidoo, BankservAfrica’s head of stakeholder engagements.



Real take-home pay, the amount you receive after tax, insurance and other deductions, was also higher at R13 968 in January, a 3.5% year-on-year improvement, suggesting the significant erosion of the purchasing power of salary earners during 2023 is easing off.
29 Feb 2024 3PM English South Africa Business News · Investing

Other recent episodes

SA’s real retirement age is 80, according to Sanlam Corporate’s recent findings

GUEST - Nzwa Shoniwa, Managing Executive at Sanlam Umbrella Solutions The true retirement age in South Africa is closer to 80 rather than the traditionally expected 65, according to Sanlam Corporate. This “retirement age gap” has significant implications for individuals, businesses, and the state. Sanlam Corporate says employers need to…
10 Feb 1PM 29 min

The business of broadcasting big sports events in South Africa

GUEST – Nqobile Ndlovu - Cash N Sport Research Director. This past weekend, football fans across South Africa were glued to their screens as Mamelodi Sundowns faced off against Orlando Pirates in a highly anticipated clash. Whether you watched the match on traditional TV or via a streaming platform, one…
10 Feb 1PM 15 min

What impact will Trump's tariff threats and policies have on SA's economy?

GUEST - Sanisha Packirisamy, chief economist at Momentum Investments Investor confidence is likely to remain rattled in the context of ongoing market volatility in response to US President Donald Trump’s policy announcements and tariff threats. The US imposed a 25% tariff on imports from Canada and Mexico, alongside a 10%…
10 Feb 1PM 13 min

Mining Indaba: South African Airways at the Forefront of Mining Connectivity

GUEST: Chantal Seraho - SAA Country Manager: DRC SAA stands uniquely positioned to be the airline, strategically connecting key mining hubs across the continent and beyond. An airline at the southern tip of Africa capable of seamlessly flying investors from Australia to Southern Africa, West Africa, and East Africa. Our…
6 Feb 3PM 5 min