financial planning
Although the offshore limit has been increased to 45%, the reality is that 55% of your retirement fund capital must be invested in South African assets which, given the rate at which the number of listed companies on the JSE
The general principle of the accrual system is that each spouse is entitled to take out the asset value that he/she brought into the marriage, and whatever is built together during the subsistence of the marriage is shared equally. So,
The most obvious sign of any fraudulent investment scheme is the promise of abnormally high investment returns. While Ponzi schemes may take a variety of forms, they all follow the same intrinsic theme: investors are promised they will make a
Taxpayers are required to declare their worldwide foreign income sourced from a foreign employer while working in South Africa and/or abroad, and, to facilitate this, SARS has included three new fields for foreign earners.
It’s vital that you and your spouse set out clear guidelines for how the household finances will be managed. In the absence of an income of your own, you will be largely dependent on your spouse for money, so be
The trustees that you appoint will have a fiduciary duty to manage the trust assets in the best interests of the trust beneficiaries, and it is, therefore, important to choose your trustees wisely. Ideally, you should consider someone who has
Further, it is important to bear in mind that, while a member’s beneficiary nominations are taken into account by the trustees of the fund, it is the trustees who make the ultimate decision regarding distribution of the death benefits.
Before retiring, it is important to carefully assess your capital needs – both at the point of retirement and into the future. Remember, you are not permitted to make lump sum withdrawals from a life annuity or living annuity, so
A single-income family naturally faces greater risk when it comes to job loss or retrenchment, and it is important to put plans in place to mitigate the risk as much as possible. An emergency fund sufficient to cover at least
In many situations, adult children find out about their parent’s funding shortfall at a time when they are financing their own children’s tertiary education – notwithstanding their need to fund for their own retirement – placing them in an unenviable
