One of the questions I receive most often from retirement fund members is about who has a claim to their retirement funds if they die in service. This video, as part of a member education series for the Government Employees Pension Fund (GEPF),...
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How much tax will a TFSA save you?
You could save hundreds of thousands of rands in tax, according to Sanlam Investments. In 2015 National Treasury introduced the tax-free savings account (TFSA) to reignite a savings culture among South Africans. Designed to encourage long-term...
Why do electricity costs differ so much?
Electricity is a major household expense for everyone. This will only worsen in April this year when we expect to see an overall 15% increase in the Eskom standard rate. Trying to understand what the “average” household spends in South African is...
Listen: Pros and cons of debt counselling
For many people COVID has had a major financial impact and some may be considering entering debt review. In this podcast Maya (@mayaonmoney) speaks to David O’Brien of debt counselling firm Meerkat to explain how debt counselling works and how to...
10 key tax changes
By Jean du Toit, Tax Consulting SA. President Cyril Ramaphosa has given effect to the 2020 tax proposals by signing three tax Acts into law. On 15 January 2021, the President gave his assent to the Rates and Monetary Amounts and Amendment of...
GEPF: Who receives your pension benefits?
One of the questions I receive from most retirement fund members is about who has a claim to their retirement funds if they die in service. As a member of the Government Employees Pension Fund (GEPF) one of the most important documents you need to...
Video: Why it pays to be a member of the GEPF
As a financial journalist I am increasingly concerned about misinformation provided to members of the Government Employees Pension Fund (GEPF) by unscrupulous financial advisers. Some advisers use fear tactics, telling members that their funds will...
How to pay less tax using Section 12J
By Zane De Decker, MD Flyt Property Investment. Did you know that an investment made into a Section 12J registered fund qualifies for a 100% tax refund? What that means, in simple terms, is that 100% of what you invest is deducted from your taxable...
Sole proprietor vs private company: which should you choose?
By Ruan van Jaarsveld, Manager at Hobbs Sinclair Advisory. Many South Africans have recently found themselves feeling the need to venture into business outside of the formal, corporate framework. Reasons for this vary, from being retrenched from a...
What is the tax benefit of an RA?
A reader asked: “I am 38 years old and I am not happy with the returns on my Retirement Annuity (RA). I am considering scaling down my monthly contributions and rather investing the money offshore myself through a stockbroker. What are the tax...
Previous Articles
No early access for GEPF members
Any changes relating to early access to funds in a private-sector pension fund or RA will have no bearing on members of the GEPF. I have received many queries from readers about the proposal to allow members of retirement funds limited access to their retirement funds...
Save on back-to-school essentials
With the planned re-opening of schools some time over the course of January, parents are bracing themselves for the annual grudge purchase of back-to-school essentials. These including stationery, textbooks, sports kit and other required equipment. Respondents to a...
The best way to settle your car finance
Advance payments on car finance do not work the same as on your home loan, so it’s worth understanding how to make the most of it. Any debt that you pay off sooner than required will save you money on interest. However, you need to understand how advance payments work...
How to negotiate your retrenchment package
The law makes no distinction between voluntary retrenchment and forced retrenchment. This means that the same benefits apply whether you accepted the package voluntarily or were forced to take it. These benefits include a tax exemption of up to R500 000 on your...
FSCA to regulate crypto-assets
Globally there has been an increase in the number of retail investors wanting to purchase crypto-assets. Unfortunately this has seen an exponential increase in the number “crypto-scams”. This is where unregulated entities and individuals promise unrealistic returns...
Structure your 13th cheque so you receive your full bonus
If you were unpleasantly surprised by the tax bill on your 13th cheque, change the way you structure your salary package so you lessen the tax impact. According to Jetro Malapane, member of the Executive Committee of the South African Payroll Association (SAPA) it is...
Financial resolutions you can stick to
It’s that time of year when we all make our New Year’s resolutions. The secret to a successful resolution is to keep it simple and to break it down to something manageable. For example, don’t’ say “I am going to be debt free.” Rather select one debt that you are...
SMEs optimistic despite COVID challenges
South African small business owners are a resilient bunch: 86% of those recently surveyed by Retail Capital said that their business will survive the pandemic. This despite the majority not receiving relief from their landlords or financial institutions during...
Hindsight, foresight and change at the speed of light
By Izak Odendaal and Dave Mohr, Old Mutual Wealth Investment Strategists. Hindsight, they say, is 20/20 vision. This being the year 2020, it turned out to be truer than ever before. For investors, and all of us really, there was so much about this year that was...
Video: 40 days to payday
Most companies pay December salaries early, so there is a good chance many of you have already been paid by December 15 While it is a great feeling to receive money early, especially with the financial demands of the festive season, keep in mind that this money has to...