We will spend R18 000 per taxpayer this year on government debt repayments As I listened to Finance Minister Nhlanhla Nene’s budget speech it struck me that our government is in a very similar situation to most South African households. Over the...
The impact of lower inflation on investment returns
Dave Mohr, Chief Investment Strategist at Old Mutual Wealth, explains that investors with portfolios that include performance benchmarks that target inflation-linked growth should not be overly concerned about the possibility that their returns...
Making sense of interest rates
Last week, consumers received good news from the South African Reserve Bank (SARB) that the repo interest rate would be kept at 5.75%, which means that the retail rate at which consumers are offered credit, would stay at 9.25%. Absa provided this...
The death of the independent adviser
Despite assurances to the contrary, the recommendations contained in the Retail Distribution Review (RDR) released by the Financial Services Board will make it more challenging for a financial adviser to operate as an independent. As the...
Tax Ombud gives a voice to taxpayers
The first Tax Ombud report raises important concerns with SARS processes and has already made a difference to ordinary taxpayers in resolving outstanding issues. In its first six months of operation, from 1 October 2013 to 31 March 2014, the Tax...
What you need to know about the 2014 Medium-term Budget in 500 words
Expect unhappy public servants and higher taxes. Like most household budgets, government is running out of money and credit lines and the only choice now is to cut consumption and still try squeeze a bit more out of taxpayers. In the words of...
Timewasting chokes executive work-life balance
Executives approaching burnout, and under the impression that their workloads are too heavy, would do well to take an honest assessment of how much time they spend on actual work, compared to how much time they spend attending to non-essential...
Low-cost investing with Satrix
Satrix has released a new range of funds which has reduced the cost of investing Since Sanlam bought out Satrix two years ago it has been implementing some interesting changes which have improved the offering to investors wanting to access low-cost...
Time for the SARB to go on hold?
By Nazmeera Moola, economist and strategist, Investec Asset Management Consumers should be able to sleep somewhat easier in the next few months, as we have most likely seen the last interest rate hikes for 2014. This is partially due to the weak...
African Bank and your money
African Bank provides clarity on what will happen to both depositors' and borrowers’ money. If a retail client had deposited funds with ABIL what happens to their money? Will they get it back and would they receive the same rate of interest? As...
Previous Articles
The truth about retirement reform
Setting the record straight in terms of how the government's proposed retirement reforms will affect you. Over the last few weeks vested interests have tried to create fear and confusion around the proposed retirement reform. Between unions flexing their political...
Tax Ombud to give taxpayers a fair hearing
Taxpayers generally have the odds stacked against them when it comes to disputes with the South African Revenue Services (SARS). With wide-ranging powers provided to it under the Tax Administration Act, SARS is able to request information about taxpayers from third...
Emerging markets: it’s our turn
Jeremy Gardiner, director at Investec Asset Management argues that most of the economic pain we are feeling in South Africa at the moment is being felt more or less similarly across all emerging markets. My brother has just returned to South Africa after living in...
Do you qualify for credit amnesty?
Credit Ombud Manie van Schalkwyk unpacks the credit amnesty, and separates out the myths from the facts. In the lead-up to 1 April, there have been many misconceptions regarding the credit amnesty: exactly who will benefit, what information will be removed and even...
Beware the “alter ego trust”
Recently a story made news in South Africa about a South African who emigrated to Australia in 2002, leaving his estate here neatly bundled up. Prior to arriving in Australia, he stopped over in Lichtenstein where he established a series of trusts and companies...
The tax relief farce
Each year I get particularly annoyed about the falsehood that we receive a “tax relief” – as if Minister Gordhan managed to eke out some extra money for cash-strapped taxpayers. So let’s put it in perspective. Based on last year’s personal tax revenue of R308bn, if...
Our million-a-day tax bill
With no particular surprises for taxpayers in this year’s budget, I decided to drill through some of those tax numbers to see exactly how much tax we are now paying. If you add all our taxes together, individuals account for over R700bn in tax revenue. To put that in...
Investment outlook for 2014
Adrian Saville, CIO of Cannon Asset Managers, offers his thoughts on the investment outlook for 2014. A turning point? Ever since the global financial crisis of 2008 the world’s advanced economies, that led the way into the crisis, have struggled to get back to their...
Saxo Bank’s 10 Outrageous Predictions for 2014
Saxo Bank, the online multi-asset trading and investment specialist, has released its annual set of ‘Outrageous Predictions’ for the year ahead. Although the probability of any one of the predictions coming true is low, they are deduced strategically by Saxo Bank...
MTN Zakhele: Buy or Sell?
From 25 November 2013, shareholders will be able to trade their MTN Zakhele (MTNZ) shares. Craig Gradidge of Gradidge Mahura Investments looks at the factors to consider when deciding whether to buy or sell these shares. There are many MTNZ shareholders looking at the...