RE: South Africa No Longer A Retirement Destination For Foreigners
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This seems so destructive and short-sighted. I'd imagine maybe some pensioners will be too settled to leave immediately, but going from 0 to 45% tax is insane, and I think most will be out as soon as they are able. Not only will this severely hurt the local economy, but it also blatantly goes after older folks who rely on this fixed income because they are at an age where getting a job could be very difficult. A low blow if you ask me.
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They are just low hanging fruit and do not care about their ages. With most being white they will feel nothing and maybe hoping to crash the housing market and pick up properties on the cheap. They are jealous of rich old white folk especially those with foreign currency pensions.
Its sad that the government is resorting to these types of tactics. Such a lack of imagination.