Ways to navigate an interest rate hike in South Africa: The power of expert advice
When the sun is shining, it is the opportune time to fix the roof. This adage is especially true in the context of economic situations, where preparation is key to weathering financial storms. In South Africa, as in many parts of the world, interest rates have seen an upward trend, posing significant implications for personal […]
Short-term cover – Loss of income cover with a difference
Why retrenchment cover is a non-negotiable need for those currently employed Being retrenched is one of the most traumatic transitions a person can go through in their career, and as the world grapples with the aftermath of the pandemic and strained economies, retrenchments are unfortunately still a reality for many people. The shock of being […]
Never do things just ‘for tax purposes’
A decision based solely on tax considerations is likely to be the wrong one. “I hate tax!” These were the words spoken by a director of one of the clients of the audit firm with whom I served articles. Whilst many would agree with this sentiment towards the tax-man, this particular individual’s zeal in devising […]
Share disposals: Calculating SARS’s slice
How to work out the taxable capital gain when disposing of share investments. One of the underlying principles of Capital Gains Tax (CGT) is that a capital gain is normally determined as being the difference between the proceeds on sale of an asset, less the so-called ‘base cost’. Calculating the base cost is therefore critical […]
How to object to your income tax assessment
You and SARS are entitled to have a difference of opinion. This article, which was originally published in the May 2014 issue of Tax Breaks, has been updated to take later developments in SARS’ processes (and e-filing functionality) into account. You’ve got your tax return in on time, and your tax practitioner told you that […]
Investment insights: Maximising interest returns
Navigating the trade-off between liquidity and return. Investors with a more short-term or undefined investment horizon often leave their money in a bank deposit of some sort. Interest rates have been rising during 2022, making bank investments more attractive than they were in the past 12 to 24 months. The key challenge for these investors […]