Retirement reform proposals

Finance Minister Pravin Gordhan has outlined further proposals regarding retirement reform at the National Budget Speech for 2013 in the areas of the taxation of retirement funds; governance of trustees; preservation and annuitisation. Windall Bekker, Partner at REZCO Investment Consulting, says that as predicted previously, the existing governance duties of retirement fund trustees and their […]

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Budget commentary

“The confirmation by National Treasury of the introduction of tax-preferred savings and investment accounts by April 2015 is encouraging,” says Hugo Malherbe, Product Specialist at PPS Investments. He points out that, under current market conditions, it is extremely difficult on an after-tax basis to find conservative short-term investments that will beat inflation. “With domestic growth […]

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Tax year end an opportunity for retirees too

SALARY-EARNERS are not the only ones who should revisit their tax planning before February 28 when the tax year ends. Many retirees should also seek out tax breaks while there’s still time, says Lara Warburton, managing director of Imara Asset Management South Africa. The Illovo firm assists many middle-aged and mid-income South Africans with their […]

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Concerns around NHI

The National Budget Speech this week is expected to reveal further details on Government’s proposed roll-out of the National Health Insurance (NHI) initiative, yet South Africa’s medical profession remains divided on whether this is the correct route to take, according to a new survey released by PPS. The survey of almost 700 medical professionals, which […]

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Boost your retirement annuity for tax benefits

With the tax deadline looming at the end of February 2013, now is the time for South Africans to re-evaluate their contributions to their retirement annuity (RA), in order to not only ensure that they are on track to achieving their retirement financial goals, but also to minimise their tax contributions by maximising the deductions […]

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Budget 2013 – what will it hold for financial planners?

By: Geraldine Macpherson, Legal Marketing Specialist It is that time of year again and we wait, in eager anticipation, for what the Minister has to say in his address on the 26th of February. When it comes to retirement planning in particular there has been a great deal of discussion as well as proposals put […]

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Budget predictions

By Tendani Mantshimuli, consumer Economist, Liberty The State of the Nation address has set the background-tone against which the 2013/14 Budget will be set. South Africa’s economic growth is expected to slow to about 2.6 per cent in 2012 compared with 3.5 per cent growth attained in 2011. The projection for 2013 is more optimistic […]

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Budget will not bring good news

By André Roux, co-head of fixed income and currency, Investec Asset Management As the country waits with bated breath to hear what tricks the Treasury might have up its proverbial sleeve, this is one year where we don’t envy the minister of finance, as this is going to be a budget without any good news. […]

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Government must do more to foster savings culture

The majority of South Africa’s graduate professionals are concerned about the low level of savings among consumers and support the idea of some form of compulsory preservation vehicle to foster a greater savings culture, according to a survey conducted by PPS. For the fourth quarter of 2012, the PPS Graduate Professionals Confidence Index (PCI) – […]

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Is tax advice protected by legal professional privilege?

The Tax Administration Act 28 of 2011 (the Act) has expanded the information gathering powers of the South African Revenue Services (SARS). The Act allows SARS, for the purpose of administration of a tax Act, to require a taxpayer or other persons, within a reasonable period to submit relevant material to SARS. It is significant […]

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