While South Africans battle with a cost-of-living crisis, rising unemployment and sluggish economic growth, Finance Minister Enoch Godongwana is faced with the daunting task of balancing the books in a watershed election year, amid a bloated public wage bill, rising…
Blog Archives
2024 Budget speech update
Tagged with: 2024 budget, 2024 tax rates, tax rates, two-pot retirement system
Posted in News, Press Room
Posted in News, Press Room
2023 Budget speech update
The 2023 Budget speech was delivered against the backdrop of high living costs, a dismal unemployment rate and intensive loadshedding crippling businesses, all of which are placing severe strain on South Africa’s economic recovery and growth. Finance Minister Enoch Godongwana…
2022 Budget speech update
With the aim of “keeping money in the pockets of South Africans”, Finance Minister Enoch Godongwana provided some hope to taxpayers during his maiden Budget speech. Earlier today, the Minister proposed no significant tax increases to the major revenue-generating categories, including personal income tax and VAT for the 2022/2023 tax year. This signals continuity from his predecessor’s Budget in 2021 and reinforces government’s commitment to stimulating economic growth.
How to maximise tax benefits before the end of February
In the spirit of tax season, Carla Rossouw, tax lead at Allan Gray, discusses how investors can make their money work harder using tax breaks.
Tagged with: retirement annuity, Tax, tax benefits, tax free savings, Tax season
Posted in News, Press Room
Posted in News, Press Room
Should you revenge spend on travel this holiday season?
After 18 months of lockdowns and the easing of travel restrictions, optimism is finally returning to many South Africans who have had to halt their dreams of dashing off to far-off destinations. Germany, UK, US, Canada, France and Spain are now accessible to vaccinated South Africans.
Tagged with: Covid-19, Festive season, Long-term financial goals, Revenge spending
Posted in News, Press Room
Posted in News, Press Room
Don’t let December derail your long-term plans
As we approach the proverbial finish line after a long year, most of us are looking forward to a well-deserved break. However, as we focus on making memories with our loved ones and living in the moment, it is easy to lose sight of our long-term goals – particularly when it comes to our finances.
Understand the new rules around citizenship, exchange control and tax residency
The phasing out of emigration has created even more confusion around citizenship, exchange control (excon) residency and tax residency and how the changes will affect different individuals and access to funds. Carla Rossouw, tax lead, and Jaya Leibowitz, senior legal adviser, highlight the differences between these three concepts and explain how each may affect your investments.
Tagged with: citizenship, emigration, Exchange control, SARB, SARS, tax residency
Posted in News, Press Room
Posted in News, Press Room
2021 Budget speech update
Finance Minister Tito Mboweni tabled a taxpayer-friendly Budget, which has taken into account the enormous strain that the COVID-19 pandemic has placed on households and businesses. Personal income tax brackets and rebates will be adjusted by more than inflation to provide individual taxpayers with real tax relief and support economic recovery.
Upcoming changes to provident and provident preservation funds
The Taxation Laws Amendment Act includes changes to the legislation that governs provident and provident preservation funds that will come into effect on 1 March 2021.
Tagged with: harmonisation, pension fund, preservation fund, provident fund, umbrella fund
Posted in News, Press Room
Posted in News, Press Room
Money lessons from the arcade
Emmanuella Fernandes shares some of the money lessons that were inadvertently shaped by her parents’ and grandparents’ experiences.
