Senekal last week had nothing to do with solutions. It was all about politicians’ testosterone. It was all about politicians’ egos. What useful idea came out of all that heat and noise generated by all those politicians in Senekal last week? There is nothing. Nothing that makes SA a better place. Nothing that leads us to a better understanding of race relations in SA after 1994. Nothing that is a solution to farm murders – many of whose victims are poorly paid, desperate black people – or a solution to the incredibly horrendous murder and crime problem in this country.
It struck [Thomas Piketty] as odd the Australian Government imposed no taxes on those who had been bequeathed multi-million-dollar properties, while governments in the United States and Europe taxed the same gifts at between 40 and 45 per cent. “Japan just raised its top inheritance tax rate from 45 to 55 per cent last year,” Professor Piketty said. “This was under a right-wing government by the way and I don’t hear Angela Merkel or I didn’t hear Cameron in Britain say he wanted to reduce the inheritance tax of 40 per cent to the Australian level of 0 per cent so this [Australia] is very unusual.” The author of the best-selling book Capital in the 21st Century said while small inheritances of 100,000 or 200,000 could remain tax free, it made perfect sense to levy tax on property transfers worth millions of dollars.BACK TO TOP