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RA’s still make so much sense

RA’s still make so much sense

I must admit to feeling quite deflated post the budget speech – kind of feels like we are just getting squeezed even more and that there is little motive to working hard and attempting to save when in reality we are just being taxed more and more and are given little incentive to save (R33000 into a tax-free savings account is not going to get you anywhere meaningful). Dividend tax has gone up by 33% (15 to 20%) , capital gains tax...

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TFSA or not to TFSA?

TFSA or not to TFSA?

Alec Hogg recently wrote a piece encouraging people to take full advantage of the tax free savings account before the end of February (http://www.biznews.com/undictated/2016/02/05/go-full-out-for-tax-free-savings-accounts-but-with-two-provisos/)…I disagree with him on this one and here are the reasons why. Sorry Alec but I disagree with you on this one…I have previousy written about how I’m not so excited about TFSA...

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SARS, like Nike – just do it!

SARS, like Nike – just do it!

I have posted on this previously but it seems to be an increasing issue and even SARS call centre agents are starting to admit that their systems are not up to scratch! The result is that even if you are not liable to submit a tax return (in terms of SARS own rules) I strongly advise you to file your returns…we are coming across more and more hostile situations where SARS are insisting that ALL outstanding returns be filed… SARS...

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SARS speaking with forked tongue (again)

SARS speaking with forked tongue (again)

SARS speaking with forked tongue (again) Filing season for the 2015 tax year opens today and SARS have been sending out plenty of emails about this. One of them is titled “BE TAX SMART – Check if you need to submit an income tax return!” which implies that some people might not need to submit an annual return.  We followed the link on the email and this is what we found: “Taxpayers earning less than R350 000 a year may not have...

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Risk free returns?

Risk free returns?

I recently saw an advert for RSA Retail Bonds that was advertising “risk-free” returns. This kind of thing really gets up my nose and in my opinion it smacks of false advertising…RSA Retail Bonds are not the only culprits – just about all of the banks do it too.  “No fees or commissions” or “Risk-free”. Let’s get this straight – there is no such thing as a risk-free investment. The reason they are advertised as...

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(10) Dumb ways to die (financially)

A year or so ago my kids introduced me to a very cute you tube clip, “Dumb Ways to Die” which was a public service campaign to promote rail safety in Melbourne, Australia. It quickly went viral – you can watch the clip here https://www.youtube.com/watch?v=IJNR2EpS0jw For some reason I found myself humming the tune while I was on my way to work recently and while I was driving my focus turned to dumb things people do,...

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