Investing
If you intend to gift a larger amount of money to your child, it may be more effective to structure the inheritance as a loan whereby the loan account appears as an asset in your estate, thereby avoiding donations tax.
A Rand-based offshore investment is the simpler of the two options as you do not need to convert your money into another currency. By investing through a local, reputable LISP platform which has a mandate to invest in foreign assets,
A typical life annuity policy terminates on the death of the policyholder which means that it is not necessary for any beneficiaries to be appointed. Conversely, all capital housed in a living annuity when the policyholder dies can be distributed
In a nutshell, income protection is a long-term insurance benefit designed to replace or supplement your income in the event of illness or injury which temporarily or permanently prevents you from earning an income. While you may not perceive this
As a TFSA investor, you are permitted to invest up to R36 000 per year towards your account, with a lifetime contribution limit of R500 000. But, any withdrawals that you make from your TFSA will be deducted from your
If you are declared insolvent, Section 37B of the Pension Funds Act provides that the funds in your retirement annuity are protected from your creditors, although this does not mean that your RA funds enjoy complete protection from creditors.
At the end of the tax year, your retirement annuity service provider will provide you with an IT3(f) tax certificate which is a summary of the details of all the contributions you made to an RA for the year, and
If your parents are fortunate enough to still have each other, it’s important to have conversations about what would happen in the event of one of them passing. Depending on the nature of their retirement income, the death of the
