Investing
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
Remember, retirement annuities are government-incentivised funding structures, are designed to encourage individuals to save for retirement and, in doing so, alleviate the burden of the state. As a result, retirement annuity benefits must be distributed amongst one’s financial dependants in
With July being National Savings Month, now is a good time to review your various savings accounts. If you’re contributing towards a tax-free savings account, check your contributions and make sure that they fall within the annual limit of R36
Differing value systems when it comes to money can create enormous tension in your relationship, especially when children enter the mix. In preparing for marriage, use probing questions to explore your partner’s financial value system. What does financial freedom look
Appropriately timing the sale of your primary residence is imperative, not least of all because the decision can be a hugely emotional one which can become more overwhelming with age. Further, if your retirement plan is dependent on some or
