tax deduction
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
In terms of the Income Tax Act, death is considered a capital gains event and the deceased person is deemed to have disposed of his assets for an amount equal to the market value of the assets at the date
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.
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
Once you have chosen a provider and investment platform, you will need to select an investment strategy that is appropriate to your needs. In this regard, there are a number of factors to be taken into account including your investment
Cashflow and liquidity are also important considerations when setting up an RA, keeping in mind that the funds housed in a retirement annuity may not be accessed before you reach age 55 – subject to a few exceptions. There is,
You’ll be hard-pressed to find any South African who has not been financially impacted by the Covid-19 pandemic. Now is the time to take realistic stock of your festive season budget bearing in mind that any festive season spending over
In respect of a unit trust RA, you can stop contributing to your investment at any time without any fees or penalties. As there is no recoupment period as in the case of insurance RAs, you will not be penalised
