National Budget Speech should deliver balance, simplicity, less corruption and a broader tax base

“The budget should be balanced, the Treasury should be refilled, public debt should be reduced, the arrogance of officialdom should be tempered and controlled, and the assistance to foreign lands should be curtailed lest Rome become bankrupt. People must again learn to work, instead of living on public assistance.” Cicero, an orator, statesman, political theorist, […]

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Expectations widen between advisers and institutional investors

Results from the South African Investor Confidence Index – a monthly survey conducted by the Institute of Behavioural Finance (IBF) among institutional investors and financial advisors Institutional investors and financial planners greatly differ in their opinions of the current market valuation and expected equity returns over the next 12 months, according to the latest South […]

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Budgeting on jobs

As South Africans prepare for local government elections later this year, the Deloitte KwaZulu-Natal tax experts believe Finance Minister Pravin Gordhan would focus the 2011 national budget on job creation and employment incentives rather than raising tax rates. This was particularly relevant when many municipalities were not operating efficiently and required funding for employment. Gordhan […]

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Time to declare your foreign assets

Taxpayers should take full advantage of the new Voluntary Disclosure Programme, particularly those with undisclosed assets held off-shore, ahead of the application deadline at end October this year. This was a key message from Yasmeen Suliman director of KPMG tax, at a breakfast presentation attended by representatives from businesses across KZN. She notes that there […]

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Time to plan for potential spread of unrest in Middle East

While many international businesses with interests in Egypt have just gone through the experience of securing or evacuating their staff from the country, Aon Risk Solutions, the global risk management business of Aon Corporation, is advising companies to begin planning now for the effects of any potential spread of unrest in the region. Throughout the […]

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Don’t miss tax breaks

Hard-working salary- and commission-earners run a high risk of missing out on tax breaks at the end of the tax year, according to Imara Asset Management, South Africa, a wealth adviser to numerous corporate executives. “The harder you work the softer you’re likely to be when it comes to tax planning,” says Lara Warburton, MD […]

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Oil and the global economy

The oil price has been creeping up steadily in recent months and at the end of January it breached the $100 per barrel level for the first time since 2008. According to Paul Stewart, managing director of Plexus Asset Management, the price increase is due to a number of factors. “Besides the steady improvement in […]

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Budget Preview

By André Roux, head of fixed income, Investec Asset Management Since the September Mini Budget, Government revenue has disappointed. All of the big ticket items are going to fall short of the Treasury’s mid-term projections. Although in part a consequence of the post Wold Cup soft patch that the economy experienced in the latter part […]

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Official unemployment in SA down

Official unemployment rate falls On Wednesday 8 February, Stats SA released the Labour Force Survey (LFS) for Q4 2010. The LFS is a quarterly household survey specifically designed to measure the dynamics of employment and unemployment in South Africa, including the informal sector as well as small-scale subsistence farmers. Stanlib economist Kevin Lings notes that […]

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Retail therapy makes your future look sick

Extended ‘retail therapy’ is under way in many families as summer sales prolong the festive splurge while Valentine’s Day promises to keep shop tills ringing even longer. However, the ringing in shoppers’ ears is probably a symptom of a sickening failure to implement New Year’s resolutions to save for retirement. The comment comes from Imara […]

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