Magnus Heystek sees hope for SA's economic revival: Calls for bold tax reforms

In an interview with BizNews, Magnus Heystek urges South Africa to embrace bold economic reforms, suggesting radical tax breaks as a key strategy to rejuvenate the struggling economy. Heystek argues that by adopting innovative policies, such as offering flat-rate taxes to attract high-net-worth individuals and businesses, South Africa could significantly boost its financial stability and growth prospects. Highlighting recent shifts in the political landscape and emerging optimism among investors, Heystek calls for a departure from traditional approaches and advocates for dynamic solutions to stimulate economic activity and counteract the country’s persistent challenges.
Video production by Asime Nyide
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[@hanafri8]

Zuma, unknowingly did us a huge favour when started the MK party!

[@harveyfuqua6633]

So refreshing. Now, let's get to work.

[@agentwilla]

Thanks for the analysis guys, as RSA we really don't have a choice but to make Lemonade out of what ever 🍋 we get. We gonna have to be the change we want to see.

[@marcusmoonstein242]

Scrapping capital gains taxes to encourage capital investment would be a good start.

[@Mini-vz1op]

Neoliberal economics in SA wont work. Capital is still in the hands of a few. So nope.

[@notv6357]

Like this grootman, totally no emotions in his analysis & unapologetic contrarian views

[@LethiuxX]

All of my income comes from Europe. I wish South Africa would have a lower tax rate for international income, considering we're already doing a lot to help the economy.

[@Scott.Silburn]

Please God this is a real turning!!! 🙏🙏🙏

[@palebiss1646]

Because root is political, it cannot be healed. The head of state has just demonstrated his willingness to nationalize the economy during this week's policy meeting. The foundations are no longer the same.

[@BaileyJames-zv2ddd]

Commodities, such as gold, enable access to spot markets and gold futures options. Brokers frequently offer tools and research tailored specifically to commodity needs.

[@OscarOwenn]

While funding new positions, MO has been an all-star in my portfolio nearly as much as TSM and Nvidia. - M. O. A great deal of hate as well. but up on top of prior gains ytd during the toughest part of the year. That MO six-month chart is stunning.

[@bossqueen_lala3098]

It is vital to comprehend that you must go beyond simply covering your rent and other expenses; instead, you must attain a stable net income.

[@BaileyJames-zv2ddd]

Determine the answer-I'm not sure-because it might affect my bottom line. I base my portfolio on Leah Foster Alderman's recommendations.

[@BaileyJames-zv2ddd]

I made almost half a million dollars despite the state of the market

[@irenemaitland9318]

What about those of us, yhe majority, who are middle class and below, and us pensioners? .

[@sicko_the_ew]

I'm no longer convinced that rolling out a red carpet for wealthy investors in "dead investments" (just to exaggerate for emphasis) is a good idea. If someone brings a factory or an insurance company here, maybe, yes. Those things have remain "generative" for years after their "construction". If someone buys the biggest house in Camps Bay for more rands than the previous buyer, it's still just the biggest house in Camps Bay, just sitting there doing nothing, blocking the view from the road, and maybe giving tourists something to ooh at. Just following the money around, it might look superficially the same as someone coming in to buy out a big wine estate, but it's obviously not. What red carpet laws would definitely do is drive up house prices. So we'd have a "property boom" from one point of view, or just plain inflation from another. Do we really want whatever investment we can get? (Low quality investments like this treated as equal to high quality ones?) Or maybe I've got it all wrong? Is it an entirely monetary matter? As long as the money pours in, it's good. No need to look where it went? If the number on the note is 1 zillion, it's 1 zillion of pure goodness. End of the matter. Hmm ... well we can partly answer that last question, hey? Take another way countries have tried to grow on the relative wealth of foreigners - "the Thailand model". I suppose it's worked for them (so proves me wrong about money not always being of the same quality even if it's the same amount). OK, so we open up an anything goes red light district, and watch the money pour in. The question is, is the money itself all that matters, again?

[@sicko_the_ew]

I forgot to plug my own little (somewhat contradictory) hobbyhorse here: What we could do is promote "endless summer" retirement, in the hope that when "the swallows fly in" they get sick, so our doctors and hospitals and frail carers can make a mint. (Said tongue in cheek, so don't shout at me.) We could even promote 9 month stays, where people flee north in winter. So we want unhealthy wealthy people, not ones who just come here and push up the price of steak beyond the reach of locals, and "steal all the good horses".

[@user-zd4sl8jg4t]

Lol this man was literally saying dump SA 3 months ago... Things have changed that quickly? But let me keep quiet, if he tells investors to keep their money here thn hey why not😂

[@soara4634]

I agree that there is reason to be hopeful, but creating an opportunity for filthy rich people to get even more filthy rich by moving their money here so they can avoid taxes while our middle class is over taxed is NOT the solution. Tax the rich. Give relief to the middle class and the poor, so THEY can spend money in the economy. But of course investment bankers don’t think like that because they live in a bubble. I wonder if Magnus knows what a loaf of bread or a litre of petrol costs, or how much a hospital plan costs as a percentage of income for middle class people. Probably not. Ten stitches on a thumb cost R4000 by the way. No diagnostic imaging, no admission, just ten stitches in the emergency room. I wonder if Magus knows how much money R4000 is to regular people.

[@ohlangeni]

Ramaphosa is the best thing ever to happen to Euro'pean Colonists of South Africa. He is the reason Blacks remain 2nd Class citizens.

[@franco494]

Communism is not the answer

[@phumelelomthimude8082]

Listen white people will put cyril same region as Mandela. These people have kept the status quo for all the white people 😢😢at our expense.

[@luckykagiso4380]

stop lying to yourself 🤣 the man may be perfect but the nation is more stable than the previous 20 year down to his leadership. The markets are positive due to his decisions to do the GNU. Stop living in the past and start living the new south africa where there is non racialism that biko, sebokwe and mandela were preaching. You are to young to be talking like this are colonial or apartheid times

[@starkmad5351]

Lol no thats their own doing. Even bee won't help the useless ..😂

[@AnneliedeWet]

Heystek is a lazy, conventional "investor", a plodder. Why does Piet Viljoen, with his SA focus, beat him, even through the dark days?

[@AndreCillie]

A year and a half . You were super negative 6 months ago so stop lying

[@joecruiser]

Who is this hayStack really?

[@raynierllewis2827]

ITS JUST ALL THESE "CLEVER PEOPLE" IS TALKING RUBBISH MOST OF THE TIME