taxable income
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.
As legislation currently stands, you can invest a maximum of R36 000 per year towards tax-free savings with a lifetime contribution maximum of R500 000 which, while not sufficient as a retirement funding vehicle, can be used to supplement one’s
We all know that medical inflation outstrips consumer inflation by around 3% - 5% per year, and it is, therefore, essential that you build these increases into your post-retirement budget. However, there are a number of other factors that should
While contributions to TFSAs are not tax-deductible, the real benefits lie in the fact that all growth and income received on your investment are free from tax, meaning that you will not be liable for CGT, dividends withholding tax or
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.
While income protection cover is generally more expensive than taking out lump sum disability cover, it is important to remember that this type of cover is occupation-based and is priced according to the risk that an individual presents to an
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
A multi-manager researches and analyses the funds offered by various asset managers and builds a portfolio from these funds in line with a specific investment objective. The multi-manager will invest in specialist portfolios managed by carefully selected managers, following specific
Provident fund administrators will need to ensure that their systems are ready to give effective to these legislative changes. Their systems will need to keep accurate records of all contributions and investment growth up to 28 February 2021 as these
