A National Treasury regulation that came into play on 1st March 2018 now provides South Africans with more flexibility when it comes to investing their money in a tax-free savings account (TFSA). According to an article published on Business Tech, South Africans will be able to switch as much as they want of their money in a TFSA between financial service providers at no additional cost. They can do this up to a maximum of twice […]
Continue readingMore Tag
Investing Offshore
July is National Savings Month in South Africa, which is an awareness campaign spearheaded by the South African Savings Institute (SASI). The objectives of the campaign are to promote discussion about saving, raise awareness about the benefits of financial planning, and motivate consumers to be proactive with regards to their savings. The country’s weakened currency continues to affect the price of everyday items, such as fuel and basic goods, as well as more luxury expenditure, such […]
Continue readingMore Tag
Tax practitioner services
Filing a tax return can be confusing and time consuming, particularly if you have more than one source of income or are eligible for several deductions. As frustrating as bureaucracy can sometimes be, expressing your irritation to anyone at SARS will probably not get you far. If any issues arise, it’s best to contact SARS professionally in writing so that your discussion is recorded and can be referenced. If you wish to relieve yourself of the […]
Continue readingMore Tag
Financial yoga
You don’t have to be able to do a headstand or salute the sun every day to appreciate the benefits of yoga. Now, this isn’t to say that everyone needs to start a daily practice, but it can be helpful to recognise that we can learn a lot from this ancient discipline. When you practice yoga, you are not only studying the asanas (postures), but you are also honing valuable life skills, such as flexibility, balance […]
Continue readingMore Tag
5 tax return tips
Brace yourself — the start of income tax season is nigh, which means it’s time to prepare to file your tax return. It’s worth always trying to submit your tax return sooner rather than later, as being efficient can save you standing in line at SARS at the last minute if any problems arise. As a provisional taxpayer, it’s important to register and declare all sources of income to SARS, along with a workings table to […]
Continue readingMore Tag
What you need to know about tax season
Along with the chill of winter, the opening of income tax season next month may send shivers down your spine. The official date from which you can file your tax return (ITR12) this year is Sunday, 1st July 2018. From that point, taxpayers can start submitting their 2018 personal income tax returns for the 2017/18 tax year, which runs from 1st March 2017 to 28th February 2018. Due to the country’s flailing economic growth and its […]
Continue readingMore Tag
Why you need life cover if you have a bond
When applying for a home loan, one vital aspect to carefully consider is life cover or mortgage protection cover. This will ensure that you can continue to provide your dependants with a roof over their head if you pass away, or become disabled and cannot work. If you are the main income earner, but don’t have appropriate life cover or mortgage insurance, you could leave your family in a world of financial hardship after your death, […]
Continue readingMore Tag
Business assurance matters
It is highly advisable that anyone who runs their own business takes out business assurance, which is a broad term for a range of life assurance products that are designed to cover various scenarios and requirements. Running a successful business often takes considerable financial investment, but many business owners fail to plan for what happens in the event that they die, become disabled or severely ill; or if they lose one of their key employees for […]
Continue readingMore Tag
International Day of Families
In 1993, the United Nations General Assembly proclaimed that 15th May should be observed each year as the International Day of Families. The aim of this annual observance is to increase awareness of family-related issues, and to help countries to tackle these problems with comprehensive policies. The United Nations states that this day “reflects the importance which the international community attaches to families as basic units of society, as well as its concern regarding their situation […]
Continue readingMore Tag
Life has three constants
Navigating today’s complex world can be challenging, and acting in an effective manner can help you to thrive in our current reality. However, research has shown that many people are not thriving in modern times or feeling fulfilled. Every individual has the potential for greatness but, in order to excel in our environment, we may need to change our mindsets, and develop new skills and habits. Stephen Convey’s best-selling book, The 7 Habits of Highly Effective […]
Continue readingMore Tag