Investing offshore is not about the rand or pessimism; it’s about sound financial planning. Most fund managers spent the last five years recommending that investors allocate a portion of their investment wealth offshore – yet it was only when the...
Andy writes: What information are banks able to buy from credit bureaus about my financial history and standing and what do they use it for? Credit bureau TransUnion replies: When someone applies for credit from a lender, such as a bank, the lender...
A recent study by Sanlam done amongst mothers with children aged between 3 and 15 shows that some parents go as far as holding down two jobs to put their children through private schooling, which they perceive to be the best legacy they can give...
By Bianca Stoffberg, audit manager at BDO South Africa Fraud is one of the greatest threats to businesses, with smaller business entities more prone to becoming victims of fraud, as they often lack the staff numbers to put clear task segregations...
Why finance minister Pravin Gordhan has received the public’s vote. An incident at the Budget Speech dinner, held by Old Mutual and Nedbank on the night of the National Budget address, epitomised for me the change that has happened in our country...
Retrenchments are likely to become even more commonplace in the current economic environment as companies downsize and try to contain costs where possible. If you don’t have retrenchment insurance and need funds to tide you over until you are able...
Katlego asks: To what extent does your credit record affect your chances of getting a job and can an employer run a credit check? If you have a bad credit record does this affect your prospects and does a good one increase your chances? Maya...
Nervous investors may be considering phasing-in their investments, but does it make sense? At the time of writing this article, the market was down around 15% from its high in April 2015, the rand continued to fall to the dollar at 35% weaker than...
Tebogo writes: I applied for a R200Â 000 loan from a company called Blue Financial Services. They told me the loan was approved and I had to pay a R200 administration fee, which I did. Then they sent me a lawyers letter requiring an amount of R3Â 750...
By Andrew Flavell, Wealth Manager, AlphaWealth Rather than relying on dinner-time conversation and personal bias to determine your view on the Rand, AlphaWealth provides some analytical data that enables you to make a decision on the Rand or at...
By Ricardo Teixeira, COO of BDO Wealth Advisers With South Africa precariously placed on the cusp of a credit rating downgrade, being able to demonstrate to the global credit rating agencies that ‘SA Incorporated’ is solvent and growing has been a key focus of the...
By Kezia Talbot, Legal Advisor at BDO Wealth Advisers For those taxpayers with undisclosed foreign assets, time is running out. With the introduction of FATCA and a global standard for the automatic exchange of information between countries’ tax authorities, it is...
By Hedley Lamarque, Certified Financial Planner at BDO Wealth Advisers If you have been planning on cashing in an investment (such as shares or unit trusts) in the short term, then it would be better to do it before the end of February 2016, due to changes in capital...
A quick summary of some of the major points from finance minister Pravin Gordhan's 2016 budget speech. Future tax No increases to personal income tax or VAT this year but Minister Gordhan is looking for R15bn in new taxes next year and another R15bn the following...
Whenever Statistics South Africa (StatsSA) releases the consumer price index (inflation) figure, I always wonder whose basket of goods they are using, because I can assure you that my living costs are increasing well above the 5.2% CPI recorded for the year to...
In the final episode of Change in your Pocket, we highlight the importance of dealing with various admin issues before you get married. https://www.youtube.com/watch?v=6attRo6UGUQ&feature=youtu.be – Video supplied by BrightRock Welcome to the Change Exchange, where...
Lebo writes: My brother has suggested that I form a family trust and put my house, car and investments into it in order to protect them. Is this a good idea? Frank Magwegwe, head of Momentum Personal Adviser Services at Momentum Retail replies: Trusts are very...
The Government Employees Pension Fund (GEPF) has issued a notice to members and pensioners that the new Taxation Laws Amendment Act will not affect their pensions or benefits. As a defined-benefit pension fund, the benefits of the GEPF are already taken as one-third...
Tshepo writes: I would to know what the next step is, after you have settled your debts, to improve your credit score – in other words, clear your credit record. Maya replies: According to the office of the Credit Ombud, once the consumer has settled all the...
When you get married, it's not just your hearts that become one, but also your money. https://www.youtube.com/watch?v=piYXZDq5TJQ&feature=youtu.be – Video supplied by BrightRock Welcome to the Change Exchange, where we're discussing rings and cha-ching! Even if you...