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A while ago, I wrote on how you can smilingly make cash from the comfort of your sofa set set. Apart from the money market, Shylock and SACCOs, real estate, company shares and the transport industry among others, there are better, simple investment opportunities one needs to tap into, in order to make a quick dime, devoid of the oppressive state tax regime.
Talking of tax....
My friend an accountant, the other day, out of my curiosity decided to enlighten me about the intricacies of PAYE. I was able to learn something that left my mouth agape, speechless through his simple explanation.
Viz, he explained that the PAYE bracket is fully effective to anyone earning Ksh.14, 000 with some hundreds, and above as basic salary, falling under the 10% bracket.
The clusters keeps changing till you reach Ksh. 30,000 basic salary. At 30,000 shillings, you are regarded as middle class (that's in 1970s), in Kenya, therefore you have to part with at least Ksh. 9,000 to the taxman. Remember, our MPs, sometimes back when they refused to be taxed, with all they earn?
Let me digress and explain what I was trying to put across. Just going through some blogs and news tabloids, I came across an article talking about a single cow able to produce up to 100 L of milk, the blog and Facebook account is "Bizna Kenya"
Being a Kenyan employee, who suffers and toils for the taxman to deduct my sweat to create the comfort of few shoddy power brokers in Nairobi, I felt sad..and critically thought, how a single cow can turn one's fortunes, overnight.
Come on....100 litres of milk Multiplied by the local price, for unprocessed milk, like @70 a litre or @60...
@60 you get 6,000 and @70 you get 7,000 per day...OK...take away family share,...and expenses...put the gain at roughly Ksh. 6,000.
Ksh. 6,000 times 30 days?
Let me put it better...out of these money, no PAYE! your tax would have been factored in the dairy meal, hay, pickup fuel, for taking milk to the market and contingencies. So the sold cash from farm produce will be yours alone. Multiply the same per month...
Just calculate how much you can earn, if you had ten such cows, per month and per year.
