Abolition of Income Tax and Usury Party

Abolition Of Income Tax And Usury Party

Abolition of Income Tax and Usury Party

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The Abolition of Income Tax and Usury Party was founded in 1994 and is registered with the Independent Electoral Commission of South Africa.


Its principal objective is monetary reform, which it wishes to achieve by the establishment of a state bank, which will issue all South Africa's credit free of interest. This will enable the abolition of personal income tax, a reduction in value added tax (14%) and a substantial expansion of social upliftment programmes.

Commercial banks and private banks, which currently provide the nation's money supply at interest by means of fractional reserves, would become full reserve banks.

The party has, unsuccessfully, contested one national and three local government elections. The leader of the party is Stephen Goodson.

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