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"Exit tax' to hit South Africans looking to emigrate from 2022 When ceasing their South African tax residency, taxpayers are subject to an 'exit tax' which forms part of the emigration process. However, the National Treasury has proposed a further tax on those who intend to permanently leave South African shores, say tax experts at specialist advisory firm Tax Consulting SA. "In the National Treasury's latest published Draft Tax Bills, which incorporates the tax proposals made in the 2021 budget, the amendment proposes to tax retirement fund interests of individuals when they cease South African tax residency," the firm said. Source: https://businesstech co za/news/wealth/512238/exit-tax-to-hit-south-africans-looking-to-emigrate-from- 2022/ Accessed: 20/08/21 If enforced, the above proposed "Exit tax" will impact which of the following national totals when South Africans migrate as opposed to there being no exit tax? a) Gross domestic product b) Gross national product c) Net domestic product d) The budget 1.25 Suppose that currently, the South African economy is in an expansionary phase. The proposed "Exit tax" by the National Treasury would resemble which of the following macroeconomic schools of thought? a) Keynesian theory b) Classical theorists c) Marxist economics d) Monetarist economics

"Exit tax' to hit South Africans looking to emigrate from 2022 When ceasing their South African tax residency, taxpayers are subject to an 'exit tax' which forms part of the emigration process. However, the National Treasury has proposed a further tax on those who intend to permanently leave South African shores, say tax experts at specialist advisory firm Tax Consulting SA. "In the National Treasury's latest published Draft Tax Bills, which incorporates the tax proposals made in the 2021 budget, the amendment proposes to tax retirement fund interests of individuals when they cease South African tax residency," the firm said. Source: https://businesstech co za/news/wealth/512238/exit-tax-to-hit-south-africans-looking-to-emigrate-from- 2022/ Accessed: 20/08/21 If enforced, the above proposed "Exit tax" will impact which of the following national totals when South Africans migrate as opposed to there being no exit tax? a) Gross domestic product b) Gross national product c) Net domestic product d) The budget 1.25 Suppose that currently, the South African economy is in an expansionary phase. The proposed "Exit tax" by the National Treasury would resemble which of the following macroeconomic schools of thought? a) Keynesian theory b) Classical theorists c) Marxist economics d) Monetarist economics

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
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1.24 Read the following and answer question 1.24-1.25. "Exit tax' to hit South Africans looking to emigrate from 2022 When ceasing their South African tax residency, taxpayers are subject to an 'exit tax' which forms part of the emigration process. However, the National Treasury has proposed a further tax on those who intend to permanently leave South African shores, say tax experts at specialist advisory firm Tax Consulting SA. "In the National Treasury's latest published Draft Tax Bills, which incorporates the tax proposals made in the 2021 budget, the amendment proposes to tax retirement fund interests of individuals when they cease South African tax residency," the firm said. Source: https://businesstech.co.za/news/wealth/512238/exit-tax-to-hit-south-africans-looking-to-emigrate-from- 2022/ Accessed: 20/08/21 If enforced, the above proposed "Exit tax" will impact which of the following national totals when South Africans migrate as opposed to there being no exit tax? a) Gross domestic product b) Gross national product c) Net domestic product d) The budget 1.25 Suppose that currently, the South African economy is in an expansionary phase. The proposed "Exit tax" by the National Treasury would resemble which of the following macroeconomic schools of thought? a) Keynesian theory b) Classical theorists c) Marxist economics d) Monetarist economics
Transcribed Image Text:1.24 Read the following and answer question 1.24-1.25. "Exit tax' to hit South Africans looking to emigrate from 2022 When ceasing their South African tax residency, taxpayers are subject to an 'exit tax' which forms part of the emigration process. However, the National Treasury has proposed a further tax on those who intend to permanently leave South African shores, say tax experts at specialist advisory firm Tax Consulting SA. "In the National Treasury's latest published Draft Tax Bills, which incorporates the tax proposals made in the 2021 budget, the amendment proposes to tax retirement fund interests of individuals when they cease South African tax residency," the firm said. Source: https://businesstech.co.za/news/wealth/512238/exit-tax-to-hit-south-africans-looking-to-emigrate-from- 2022/ Accessed: 20/08/21 If enforced, the above proposed "Exit tax" will impact which of the following national totals when South Africans migrate as opposed to there being no exit tax? a) Gross domestic product b) Gross national product c) Net domestic product d) The budget 1.25 Suppose that currently, the South African economy is in an expansionary phase. The proposed "Exit tax" by the National Treasury would resemble which of the following macroeconomic schools of thought? a) Keynesian theory b) Classical theorists c) Marxist economics d) Monetarist economics
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