Monday, May 12, was Tax Freedom Day this year, according to the Free Market Foundation.
That was the date by which you, the average South African taxpayer, had earned enough money to cover your tax bill for this year and could start spending money on yourself. In effect, the total earnings of the average taxpayer from January 1 to May 11 are equal to the total taxes they have to pay for 2008.
These taxes include most of the 21 taxes levied in South Africa. Garth Zietsman, the consulting statistician responsible for the calculation, says this means you have spent 132 days working for the government.
Last year, Tax Freedom Day was on May 10. The additional two days means the overall tax burden has increased (taking the leap year into account), even though Finance Minister Trevor Manuel has consistently reduced tax rates in his annual Budget over the past few years.