News / National
Mthuli back track on wealth tax ...amid concerns govt is not applying mind on serious issues
15 Dec 2023 at 02:21hrs | Views
MInister of Finance Mthuli Ncube has reportedly backtracked on the 1% Wealth Tax on property amid concerns by former MDC Matabeleland North senator Chief Ndlovu that the ruling government seem not to be applying their mind on issues that are life changing.
Indications were that after debate in Parliament, Ncube is making some changes to the tax.
"You will not be taxed for your "primary residence" The tax will apply for additional properties you have, if they're worth over US$250 000 (not the previously proposed U$100 000. ZIMRA may collect the tax via councils.The maximum that a property can pay is US$50 000/year," he said.
Ndlovu said it is difficult not to think that they are using a prodding stick.
"They do not seem to want to apply their minds on issues that are life changing. I however think it's still a positive that one does not have to scream to be heard. It is still our duty as citizens to interrogate the budget especially if it has to do with policy issues as they have long term effects on the welfare of society. There is no substitute to that I believe. As journalists I think you have a major role in making sure people are heard," Ndlovu said.
"However it is disheartening to realize that the opposition is failing to prioritize issues. Getting ejected from parliament at these crucial times may get opposition sympathy but at the same time it will cost the general population in ways that are not repairable. 5 years is a longtime to wait for the opportunity to change things according to one's wishes but even then it's never guaranteed that change will come. As such we need to act responsibly each day to try and get the best we can out of these bad situations."
Indications were that after debate in Parliament, Ncube is making some changes to the tax.
"You will not be taxed for your "primary residence" The tax will apply for additional properties you have, if they're worth over US$250 000 (not the previously proposed U$100 000. ZIMRA may collect the tax via councils.The maximum that a property can pay is US$50 000/year," he said.
Ndlovu said it is difficult not to think that they are using a prodding stick.
"They do not seem to want to apply their minds on issues that are life changing. I however think it's still a positive that one does not have to scream to be heard. It is still our duty as citizens to interrogate the budget especially if it has to do with policy issues as they have long term effects on the welfare of society. There is no substitute to that I believe. As journalists I think you have a major role in making sure people are heard," Ndlovu said.
"However it is disheartening to realize that the opposition is failing to prioritize issues. Getting ejected from parliament at these crucial times may get opposition sympathy but at the same time it will cost the general population in ways that are not repairable. 5 years is a longtime to wait for the opportunity to change things according to one's wishes but even then it's never guaranteed that change will come. As such we need to act responsibly each day to try and get the best we can out of these bad situations."
Source - Byo24News
