24 November 2017 is the most important date on the calendar for taxpayers, as this is the deadline for most taxpayers to file their annual tax returns. Each year, more than two million taxpayers leave filing their tax returns to the last minute...
Tax season: your top tax investment questions answered
Confused about how to report on your investments to SARS? With the 2017 tax season in full swing, now is the time to get your documents ready, urges Carla Rossouw of Allan Gray Investment Managers. 1. What documents do I need? When filling out your...
SNAPnSAVE: the shopping app that saves you money
SNAPnSAVE is a cashback shopping app that puts money back into your wallet when you buy certain products – irrespective of where you shop. You download the app, select the products you want to book and then have 48 hours to go shopping and scan...
Giving up #just1thing could save over R1000 in a month
Sue Torr, a Director at Crue Invest, has conceptualised the #just1thing campaign to show people how sacrificing something small, like a cup of coffee or manicure, can have a meaningful, positive effect on your bank balance. The saying “short-term...
Running your business as a personal piggybank could scuttle future growth
By Gary Palmer, CEO at Paragon Lending Solutions Death and taxes – the two certainties in life. While we spend a good portion of our time working out, eating right and minimising personal risk to avoid the former, getting too clever in avoiding the...
Tax tips for freelancers or sole traders
We’re one month into tax filing season, and millions of South Africans are planning to file their annual returns within the given time frame. For many people who have left corporate employment to start a home-based business or join the gig economy,...
Treasury’s plans for income earned overseas
The South African Revenue Service (SARS) has published its proposed amendment to tax the income of South Africans working overseas. If this amendment to the foreign employment income exemption is passed, it may come into effect in 2019. Tertius...
Could tech wearables change our money habits?
For the last few days I have been trying out the Sanlam MNA NAM bracelet which is marketed as a fashion accessory that makes you think about money. There are two aspects to the bracelet which has been designed by top South African fashion designer...
Buy-aid schemes: an alternative to bank rewards programmes
I have to confess that the concept of a buy-aid scheme is new to me, yet it is an industry with a turnover of well over R1 billion and annually pays out in the region of R130 million in bonuses to members. Cape Consumers, which recently re-branded...
Save your windfall
Receiving relevant financial information when you need it is the holy grail of financial education. If you can reach people at a time when they need to make important financial decisions, you can guide them to make the best decision for their...
Previous Articles
Tax options for freelancers
As a freelancer should you form a company or remain a sole proprietor? During periods of weaker economic growth, companies are more open to using freelancers or contractors to reduce their cost-to-company spend. It also creates employment in an economic environment...
FNB launches new products as part of price review
Last week FNB released its price review for the next year (effective July 1st), with a few tweaks and changes, and two new product offerings. Banking for kids and students FNB has rebranded its youth offering with the launch of FNBy, which I must admit is compelling...
Stash: save as you spend
The no-paperwork, no-sacrifice, no-fee tax-free savings account It’s not often that I’m seriously impressed by a new investment product, particularly when it comes to those offered by large insurance companies. But Liberty gets ten out of ten in my books for its...
Possible wealth tax
By Hilary Dudley, Managing Director of Citadel Fiduciary Proprietary Limited On 25 April 2017 the Davis Tax Committee (DTC) released a media statement calling for written submissions on the possible introduction of wealth taxes in South Africa. This is a contentious...
The true cost of your DSTV subscription
When actuary Vinesh Maharaj was considering whether or not to change his DSTV subscription, he did what all maths nerds do – he drew up a spreadsheet to see how much DSTV would cost him over the next 40 years. He assumed an annual 8% price escalation on his Premium...
Car hire: the devil is in the detail
It may be tempting to take the keys of your hire car and drive off so that you can finally enjoy your holiday destination with your family. After all, you’ve waited a long time for this break and with all the political turmoil and work commitments bogging you down,...
Using a trust to create intergenerational wealth
Most parents want their children to be financially secure and to live better lives than they were able to ‒ lives without financial stress. Parents also want to be able to leave their children a financial legacy that will provide for intergenerational wealth. This...
Eight digital banking scams to look out for
As access to banking services through digital channels continues to grow, so does the need to protect consumers against the prevalence of online banking fraud. Yolande Steyn, Head of Innovation at FNB says, “We view security as an integral part of a seamless online...
What is digital currency?
Digital currencies are a form of electronic money, that are as liquid as normal fiat currencies. There are currently over 600 digital currencies – also known as cryptocurrency – that are already in the market. They function the same way as regular currencies, except...
How do I calculate my tax?
By Cathie Webb, Director, South African Payroll Association Minister of Finance, Pravin Gordhan, released updated tax tables on 22 February during his 2017 budget speech. We understand that many of us will be paying more tax and therefore taking less money home in our...