Covid-19 Outbreak SA Online Resource | More info
Insurance, Car Insurance, Funeral Cover, Life Insurance, Budget Insurance, Insurance Quotes, CompareGuru, South Africa.
Car and Household
Business
Life and Funeral
Car Insurance
Cover your vehicle
More Information
Get Quote
Pre-Owned Warranty
Cover the mechanical and electrical components of your vehicle
More Information
Get Quote
Extended Warranty
Cover the mechanical and electrical components of your vehicle
More Information
Get Quote
Scratch and Dent
Cover small dents, chips and scratches to your vehicle
More Information
Get Quote
Tyre and Rim
Cover damages to your wheels
More Information
Get Quote
Home Insurance
Cover your home and everything in it
More Information
Get Quote
Commercial Vehicle Insurance
Protect vehicles and drivers used in the day-to-day operation of your business against risks like financial loss, damage or personal injury.
More Information
Get Quote
Commercial Insurance
Provide cover against common risks and disruptions to business operations, such as theft, damage to property, employee / client injury and much more.
More Information
Get Quote
Directors and Officers Liability
Safeguard your business and key players from financial loss with the right policy.
More Information
Get Quote
Errors and Omissions Liability
Covers your business and employees against claims of negligence, poor workmanship, and more.
More Information
Get Quote
Life Insurance
Provide for your loved ones
More Information
Get Quote
Disability Insurance
Protect your paycheck
More Information
Get Quote
Serious Illness Insurance
Cover yourself for illnesses like cancer, Alzheimers, Parkinsons, strokes or heart attacks.
More Information
Get Quote
Funeral Cover
Protect your family financially and cover funeral expenses
More Information
Get Quote
Domestic Worker Insurance
Cover the person that looks after you and your family everyday
More Information
Get Quote
Menu
Home
About Us
Domestic Worker Cover Quote
Life Insurance Quote
Car Insurance Quote
Funeral Insurance Quote
Extended Warranty Quote
Pre-Owned Warranty Quote
Scratch and Dent Quote
Tyre And Rim Quote
News Room
Meet The Team
Careers
Providers
Insurance
Car Insurance
Building Insurance
Household Contents Insurance
Life Insurance
Disability Insurance
Serious Illness Insurance
Domestic Worker Insurance
All Risk Insurance
Funeral Insurance
MotorVAPS Cover
Commercial Insurance
Commercial Vehicle Insurance
Directors and Officers Liability Insurance
Errors and Omissions Liability Insurance
Support
Contact Us
Terms of Service
Privacy Policy
Disclosures
Client Letter
POPI Act
PIA Act
CIM Policy
Complaint Escalation
TCF Form

News Room

Fuel Levy “Almost Certain To Rise”

Compare Guru
2017-02-08
The Fuel Levy is almost certain to rise following the annual Budget Speech. This will once again leave the middle class shouldering the load.
Independent economist, Dawie Roodt, is almost certain the fuel levy will rise when Finance Minister, Pravin Gordhan, presents his annual budget speech. This comes days after the RAF announced their account had been frozen and could no longer pay out claimants.

Rise In Fuel Levy Despite Two 2017 Fuel Hikes

Petrol has increased by 79 cents so far this year, while diesel is already up by 60 cents per litre amid rising oil prices.
“The government has a R28-billion hole to fill in its budget and about the only line items left where he can levy substantial taxes are VAT and taxing the middle class,” Roodt said. Neil Roets, CEO of debt management company, Debt Rescue, said “We all know that when the price of fuel escalates, the prices of everything else rises in concert".
debt review Roets said he was also fearful of the impact that increased taxes and levies will have on already indebted consumers. The Save South Africa movement is planning to hold a People's Assembly on Wednesday morning (10am) at St George's Cathedral in Cape Town. NGOs and civil society groups will be discussing what they've termed, "the real state of the nation". The movement will table issues they believe President Jacob Zuma should focus on, during his speech.

Watch The Livestream Below:

“I am convinced that we are going to see a substantial increase in the fuel levy, which together with rising crude oil prices is going to cause the fuel price to skyrocket. The fiscus will need another R15-billion in 2018-19. This will require more than routine tax increases and, once again, the middle class is probably going to have to shoulder the bulk of these taxes,” Roets said.
The fuel price has risen twice in 2017 alone.  Roets warned consumers to learn to live within their means to combat the rising cost of living. He added that more than 50% of consumers were three months or more behind in their payments. The major culprits? Credit and store cards, followed closely by unsecured debt.
CLICK BELOW to chat to a professional debt counsellor about how you can become debt free! “It is these people who are going to bear the brunt of the government’s inability to curb spending, which results in higher taxes year after year.” "Personal loans still outnumber other types of debt," says Roets.
Which age category had the most debt? According to Roets, the age group over 65 had the most debt linked to credit card debt. Pravin Gordhan will deliver the annual Budget Speech on Wednesday, 22nd of February.
CompareGuru Social TwitterCompareGuru Social FacebookCompareGuru Social LinkedIn

Sign up to our Newsletter now, and don’t miss a beat.

Email Address
Name
Sign Up