Flash Briefing: SA tax base shrinks as many more plan emigration; DA urges EWC protest; Massmart; Bitcoin high
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* As Finance minister Tito Mboweni gets set to present the budget this week, analysts have warned that South Africa’s loss of skilled and high earners could limit room to raise income taxes.
* More than a fifth of all property sellers in the R2.6m and up price bracket have plans to emigrate - with the emigration trend a concern as individuals earning R1m and more pay more than 40% of income tax.
* The opposition Democratic Alliance has launched a petition to stop the Expropriation Bill in its tracks. The ANC wants to push through Zimbabwe-style land grabs - which are seen as a huge threat to the economy.
* South African National Defence Force senior generals thought the country was involved in a biological war, which caused them to buy R260-million worth of useless medicine from Cuba to fight Covid-19, reports MyBroadband.co.za.
* South African retailer Massmart - owner of Game and Makro - said on Friday it was planning further store closures and flagged a deeper full-year net loss of more than R1.7 billion.
* Bitcoin surged to another record on Saturday after reaching more than $1 trillion in market value for the first time, Learn more about your ad choices. Visit megaphone.fm/adchoices
* More than a fifth of all property sellers in the R2.6m and up price bracket have plans to emigrate - with the emigration trend a concern as individuals earning R1m and more pay more than 40% of income tax.
* The opposition Democratic Alliance has launched a petition to stop the Expropriation Bill in its tracks. The ANC wants to push through Zimbabwe-style land grabs - which are seen as a huge threat to the economy.
* South African National Defence Force senior generals thought the country was involved in a biological war, which caused them to buy R260-million worth of useless medicine from Cuba to fight Covid-19, reports MyBroadband.co.za.
* South African retailer Massmart - owner of Game and Makro - said on Friday it was planning further store closures and flagged a deeper full-year net loss of more than R1.7 billion.
* Bitcoin surged to another record on Saturday after reaching more than $1 trillion in market value for the first time, Learn more about your ad choices. Visit megaphone.fm/adchoices
