Dear Sir ,
It is a honour to write this letter to you .I read about prescribing assets.Some call it pension theft and will have a negative impact on the economy. With prescription of assets about 20 to 30% of SA citizens contribute to infrastructure, job creation ect .My proposal is that all homeowners with houses more than R1 million rand must pay a levy towards infrastructure ,poverty ect ( Levy system replace prescription assets ). There are people with 2, 3, 4 and more houses and some with blocks of flats getting big rental income( their pension ) and will get off scot FREE to contribute to infrastructure ,Eskom ect, Houses 1 to 1,5 million rand pay for example R300 levy per month. 1,5 to 2 million R350 levy and 2 to 2,5 million pay R400 levy and so on on a sliding scale to more expensive houses.I am sure that most of the rental income is on a cash basis and some income is not declared for tax so they score twice and enrich themselves (The working class must pay tax on salary and contribute towards a pension or provident fund) .This rental income is the landlords pension.The levy system is less risk than prescription of assets and with the levy system 60 to 80% of SA citizens contribute to infrastructure .We must unite and all must contribute and not just a specific group..NB : There must be a committee in place to control the money ( levy ) to prevent corruption .If money is allocated to Eskom for example the committee must monitor how the money is spend. Thanking you.