Beplanning onderwerpe
Lovemore NdlovuSouth Africans who have taken the leap to finalise their cessation of tax residency often overlook the banking regulations and financial consequences that may follow. Understanding these concepts is crucial to ensuring that you remain fully compliant as a non-resident taxpayer and…
By Harry ScherzerIf you’re in the final stages of your career and looking forward to retirement, you’ll have some important choices to make. Do you stay in your current home or downsize? And if you do downsize, should you look for a flat or townhouse or should you move to a retirement village…
By Sharon HammanRight now, the cost-of-living crisis has forced South Africans to utilise every engine to help generate as much income as possible. One of these engines revs up only once a year and sees South Africans filing their tax returns to see how much – if anything – the government owes them…
South Africa has some of the lowest savings rates in the world and with many South Africans following the payday millionaire approach, this ultimately results in them only ending up in an ever greater financial predicament.The month of July is known as Savings Month and should serve as a reminder…
By now you’ve probably heard that as of 1 September this year, National Treasury is introducing changes to the rules around accessing your retirement funds, known as the two-pot system. But what are these pots, why are there three pots in a two-pot system and what does this all mean for you?Natasha…
The rise in vehicle hijackings continues to deeply affect South Africans in 2024. According to Cartrack, a prominent car-tracking company, the theft of car components has become more widespread than the theft of entire vehicles. The high demand for affordable, readily available parts on the black…
Getting a business off the ground, especially as a young entrepreneur, often requires having to wear many hats. With many small businesses being run by solopreneurs in the first few months, SME owners often fulfil multiple roles from accounting and office admin to operations management and stock…
By Harry ScherzerSmall and medium-sized enterprises (SMEs) make up more than 90% of all formally registered businesses in South Africa and account for 40% of the country’s GDP. A growing number of these SMEs have to make international payments and money transfers, too. Whether they’re making…
By Frants Preis Investing in the stock market often feels like riding a roller coaster. The ups and downs can be thrilling or terrifying, depending on your perspective. However, seasoned investors know that understanding the difference between risk and volatility is crucial for long-term success.In…
Health Minister Dr Aaron Motsoaledi states: “The NHI is a health financing system which is meant to be an equaliser between the rich and the poor. What we all agree on is that all patients and the extremely sick should benefit from the best medicines and care science has to offer, not just the rich…
Some South Africans are diversifying their risk cover to include life insurance that pays out offshore, in US dollars, this is according to the Discovery Life 2024 Dollar Life research paper.The white paper was released to mark the 10-year anniversary of Discovery Life’s Dollar Life Plan.The…
Recent news reports alleging irresponsible lending and debt retrieval practices by Capitec Bank in the past have prompted me to contextualise the allegations by revisiting South Africa’s retail credit environment and reflecting on improvements in consumer protection over the years.In the early…
By Nicola MawsonThe pending implementation of the Two-Pot retirement scheme does not mean that those who wish to withdraw savings can use that method to hide money from a soon-to-be-ex spouse or get out of maintenance obligations in terms of minor children.The new retirement regime comes into…
By Annelie GilesSouth Africa follows an input-credit method of value-added tax (VAT) accounting, which allows a VAT-registered vendor to claim VAT on expenses that have been incurred in the course or furtherance of its taxable enterprise. The difficulty is that there is no prescribed time period…
ProfileData takes pride in being one of the leading South African financial data feed solutions providers.“Our specialised local research teams, together with our relations with international exchanges and data providers, allow you access to a wide range of data options for both in-house needs and…
The Commissioner for the South African Revenue Service (Sars) Edward Kieswetter on Thursday night condemned “in the strongest possible terms” the attempted assassination of Advocate Coreth Naudé. Naudé is acting for Sars in a tax inquiry involving Royal AM football club owner, Shauwn Mkhize.…
This is the sixth article in a nine-part series that summarises findings from Just Retirement Insights 2024, a tracking study conducted by retirement income specialist, Just SA.We previously looked at the possibility of living to the age of 100 – a possibility that should be factored in when…
Amid rising living costs and an increase in decline rates from formal lenders, many consumers are being forced into accessing high-cost credit from unregulated lenders. This trend highlights the urgent need for more inclusive financial services.Due to increased compliance requirements and a reduced…
If you plan to withdraw retirement savings from your “savings pot” after the two-pot retirement system comes into effect on September 1, you need to take into consideration the costs and taxes that will be deducted from your withdrawal. The deductions may be more than you realise, especially if you…
The South African Reserve Bank Governor, Lesetja Kganyago today announced that the repurchase rate (repo rate) will remain the same. This comes after the bank’s monetary policy committee (MPC) met this week to decide on the repo rate, with the outcome, remaining at the 14-year high of 8.25%. This…