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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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The role of the financial planner…

The role of the financial planner…

Have been busy with a death claim on a retirement annuity and have managed to get an extra 50% added to the payout value…read on for the details that once again highlight the value that a financial planner can add to a client’s portfolio. About a month before our client died we sat with him and his wife to work through all his insurances (he had been diagnosed with terminal cancer). We did not do a lot of his old policies but...

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Interesting

Interesting

Was at a workshop hosted by Investec Asset Management this am and heard these rather interesting stats… 23% of US homeowners are in negative equity (they owe more on their house than their house is worth) At the current growth rate, India will have more people than China by 2030 99% of the world’s fastest growing cities are in Asia There are 65 Chinese cities with more than 1million people (only 2 in SA apparently) 30% of the...

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Moving forward…

Moving forward…

I was chatting with a friend of mine last night who was relating a phone call he had received from his bank who were encouraging him to “move forward” to their prestige banking account and all that comes with it for just R199 per month…55 “free” transactions, help with forex, 12 free cheques (does any one still use these?) blah, blah, blah,etc, etc, etc… What amazes me is how easily people buy the...

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RSA Retail Bonds

RSA Retail Bonds

Much was made about the RSA Retail Bond when it was launched and about how it would provide a safe and cheap investment with a reasonable returns to the “man-in-the-street”. Well, I have been trying to buy some of these for a “man-in-the-street” using the RSA Retail Bond website – what a nightmare. There is an application form online but no details where to submit it or how to pay the funds into an account. So...

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What’s worse?

What’s worse?

When you finally get to retire from your pension fund or retirement annuity you are faced with a significant (and very important) choice about what kind of annuity you will purchase (with the compulsory portion of your fund). Simply put, there are 2 choices: a conventional life annuity (through an insurance company) or a “newer” Living Annuity (usually through a unit trust company). The differences are explained...

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