The saying goes “Time is money”, but how much of the time you spend working goes to yourself, and how much goes to state in the form of taxes?
Yesterday’s annual Budget Speech left the nation reeling, especially announcement of the below inflation increase in personal income tax brackets and rebates. The TaxClock is a tool developed by Open Up SA, and can be used to calculate how much time in your day goes to government before working for yourself.
Simply enter your annual salary, and it will calculate how much of your time is spent working towards lessening national debt. It breaks down how many minutes per day goes to each department in South Africa, and is an interesting way to see how your hard-earned money contributes to the essential services in our country.
Use #TaxClock to calculate how long you work each day to pay tax + see where your money goes. Based on new 2018 tax brackets, the clock was built by @OpenUpSA > https://t.co/5aA961IvFX
— Raymond Joseph (@rayjoe) February 21, 2018
Each person’s tax breakdown will be unique, so have a look and check yours.
Image: Pixabay