South Africa

South Africa

#Budget2020: DIY tax clock shows you where your contributions go

#Budget2020: DIY tax clock shows you where your contributions go
South african currency coins closeup picture

A tech tool helps you calculate your tax contributions to education, health, defence, or paying off national debt – per day. 

When you put in long hours of work each day, you’re not just working for yourself.

Unless you’re breaking the law, you’re also working to pay your share of taxes that help keep the country running.

But what are you actually paying for?

OpenUp, a civic tech organisation, has updated its annual Tax Clock with the latest tax information from Finance Minister Tito Mboweni’s Budget. It is part of OpenUp’s mandate to build free tools that promote active citizenry and help people make informed decisions for positive social change.

Tax Clock is easy to use and calculates the time you spend each day contributing to government services, such as education, health or national debt – and the time that you spend working for yourself.

All you need to do is go to www.taxclock.co.za and fill in your salary. You’ll get a minute-by-minute breakdown of how much of your workday helps pay for different parts of government costs such as debt, education and defence.

Adi Eyal, director of OpenUp, says the Tax Clock is an opportunity for people to engage with the Budget through the money they earn – and the tax they pay.

“When the Budget comes out, people are usually only interested in how much they will be paying and if there are any rebates they can get. But they don’t engage with what the Budget is really about,” he said.

“The Budget is a statement of intent by government that says what our priorities are, and what we are going to spend your money on. So, it’s important for people to understand what they are working for. The Tax Clock will show them how they have contributed toward things like education or helped pay off national debt in a day.”

This new version of Tax Clock incorporates up-to-date personal tax details from Mboweni’s Budget speech delivered in Parliament on Wednesday February 26, 2020. DM

 

 

Gallery

Please peer review 3 community comments before your comment can be posted

X

This article is free to read.

Sign up for free or sign in to continue reading.

Unlike our competitors, we don’t force you to pay to read the news but we do need your email address to make your experience better.


Nearly there! Create a password to finish signing up with us:

Please enter your password or get a sign in link if you’ve forgotten

Open Sesame! Thanks for signing up.

We would like our readers to start paying for Daily Maverick...

…but we are not going to force you to. Over 10 million users come to us each month for the news. We have not put it behind a paywall because the truth should not be a luxury.

Instead we ask our readers who can afford to contribute, even a small amount each month, to do so.

If you appreciate it and want to see us keep going then please consider contributing whatever you can.

Support Daily Maverick→
Payment options

Become a Maverick Insider

This could have been a paywall

On another site this would have been a paywall. Maverick Insider keeps our content free for all.

Become an Insider
Elections24 Newsletter Banner

On May 29 2024, South Africans will make their mark in another way.

Get your exclusive, in-depth Election 2024 newsletter curated by Ferial Haffajee delivered straight to your inbox.