Increasing medical cover to 30% of population would relieve public healthcare sector

If medical scheme membership increased from 17% to 30% of the population, it could help relieve pressure on the public health system, according to Barry Childs, CEO of CareGauge and Lighthouse Actuarial Consulting. Speaking at the Hospital Association of South Africa’s (HASA) 19th annual conference in Cape Town, Childs outlined ways for the private healthcare […]

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Does the RA trump all?

By Hugo Malherbe, Product Specialist: PPS Investments The Retirement Annuity (RA) offers you a very attractive tax benefit: A portion of your total annual RA contribution may be claimed back from the taxman. RA contributions for the tax year February 2014 are tax deductible for the greater of 15% of non-retirement funding income (income not […]

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Informed financial decisions with financial advice

Changing lifestyle and family structures, increased product complexity and choice, as well as an ever-evolving savings and investment environment is resulting in many South Africans seeking greater access to financial advice, in order to make more informed and sound financial decisions. That is according to Andrew Bradley, CEO of Old Mutual Wealth, an advice-led, wealth […]

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The cheque is in the mail

In the recent case Stabilpave (Pty) Ltd v South African Revenue Services (SARS) the taxpayer (Stabilpave) was due a tax refund of R728 474 plus interest. The banking details of the taxpayer were not available to SARS and they therefore posted a cheque for the refund. The cheque was stolen by a Mr Mtima, who […]

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Medium Term Budget Speech comments

SA Finance Minister Pravin Gordhan presented the Medium Term Budget yesterday (23 October 2013). Below are some comments on the various issues the Budget in SA deals with: Overall AJ Jansen van Nieuwenhuizen, Tax Partner, Grant Thornton Johannesburg says: “The specific mention that the Minister made this afternoon of the particular measures to deal with […]

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Accounting changes limit size of expected deficit

· Accounting changes largely responsible for lower consolidated budget deficit than previously expected for 2013/14 · But, slower forecast growth implies deficit narrows at a slower pace over the next three years · As a result, gross loan debt projections have been revised a little higher · It is important for the Treasury to meet […]

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In tough times a Medium-Term Budget Policy Statement of few surprises

Craig Pheiffer, Head: Private Client Asset Management, Absa comments on the MTBS As widely expected, Finance Minister Pravin Gordhan revised lower the economic forecasts put forward by National Treasury at the reading of the National Budget in February this year. With the International Monetary Fund, the South African Reserve Bank (SARB) and the markets in […]

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Insuring your home in the rainy season

With summer fast approaching, the South African rainy season across most of the country can present a number of insurance related challenges for homeowners. As a result, it is important for consumers to educate themselves about the possible reasons why insurance claims related to rain could be rejected in order to mitigate the risk of […]

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Saving for education

South Africa’s public education system has shown signs of serious decline over the past two decades, with a significant drop in numeracy, literacy and graduation rates. As a result, many parents believe it has become increasingly critical for them to consider investing as early as possible to ensure their children can receive the best possible […]

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Lightning a growing risk

South Africa has one of the highest lightning ground strike densities in the world, which can have major financial repercussions for businesses and local homeowners. In the US, the cost of damage caused by lightning strikes totalled nearly $1 billion in insured losses in 2011 alone, according to the Insurance Information Institute. Warwick Scott-Rodger, Gauteng […]

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