Black Tax

In light of it being heritage month, I thought it fitting to attempt to discuss the “pass down” aspect of our heritage, from the inherited culture all the way to financial freedom, wealth generation and more specifically for this conversation, Black Tax.

A term often clouded by negative connotations though the fact of the matter pertains to a reality for most people of colour. Rather than focus on the reasons why it may be unsustainable in its current form we hope to provide a few ways on how it can work, and dare I say so myself, even be a catalyst for change in the fight against inequality.

Black tax is a term used to refer to financial support extended to family amongst the black community, something stemming from our close ties with the narrative of shared wealth which was interrupted by colonisation amongst other things, leaving us with the distribution of wealth but from a much a smaller pool of resources (usually in the form of an individual dispersing his income amongst the family). The obvious problem is that in its current form it creates a perpetual cycle of financial adversities for individuals which obviously spill into the rest of the family.

2020 if anything has been the year of the pivot for many, so why not Black Tax?

Now while the topic is a rather delicate one that is usually linked to emotions, I ask that we remain objective throughout the series. For the individual experiencing black tax, it really comes at a cost: you find yourself torn between the responsibility you feel you have for your family, whilst also still wanting to attain your financial goals, or better yet financial freedom.

My Proposed Solution?

Well I don’t have one answer in particular but I do know a place to potentially come across a couple. Be sure to tune in on our Instagram for our Instagram Live sessions that will be happening every Friday at 1pm for the next 3 weeks as we unpack more sustainable ways for Black Tax to live on. One thing I am certain of is that having proper financial literacy can definitely serve as a catalyst in the fight against inequality.

Author: Sihle Hltashwayo

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