MoneyMarketing

Industry News

22 Feb 2017

Budget 2017 – economic growth to increase this year

South Africa’s GDP growth rate is forecast to increase this year and improve moderately over the medium term, the National Treasury said today in its Budget 2017 documents.
22 Feb 2017

Budget 2017 – tax hikes for high earners

In its Budget for 2017, the National Treasury has proposed a new top personal income tax bracket of 45 percent for taxable incomes above R1.5 million per year.
22 Feb 2017

Budget 2017 – General fuel levy to rise, carbon tax to be considered further

In its Budget for 2017, the National Treasury proposes to increase the general fuel levy and the RAF levy, effective 5 April 2017.
22 Feb 2017

Budget 2017 - Dividend withholding tax to be increased

Dividend income paid to shareholders is taxed at a rate of 15 percent. After accounting for corporate income tax, which is paid before a distribution of dividends, the combined statutory tax rate on dividends is 38.8 percent. Currently, South Africa’s combined statutory tax rate on dividend income falls below the OECD average.
21 Feb 2017

2017 Budget to be a difficult balancing act for Minister Gordhan

By Tumisho Grater, Economic Strategist at Novare. The main question surrounding the upcoming National Budget is how the Minister plans to fill the budget deficit. Some of the possible revenue streams for this include fuel levies, increased sin taxes and possible wealth tax. Questions remain around corporate tax, given that there is usually a lag...
21 Feb 2017

Robust UK Property Market Provides Shelter from EU Storms

Increased uncertainty in the European Union this year will have a positive effect on the UK, making it a more attractive property investment destination than its European counterparts. This is according to global property investment firm IP Global’s Director of Africa, George Radford.
21 Feb 2017

Eight digital banking scams to lookout for

As access to banking services through digital channels continues to grow, so does the need to protect consumers against the prevalence of online banking fraud.
21 Feb 2017

Expected rise in personal income tax rate is attractive incentive for boosting retirement savings

An increase in personal income tax rates and the marginal rate of tax for high income earners – which will more than likely be announced in tomorrow’s National Budget Speech – will be a bitter pill to swallow in the short term. However, if this does happen, it will provide a good opportunity to boost...
21 Feb 2017

Prepare for heavy rain and flooding in Gauteng, says Mutual & Federal

The South African Weather Service has issued a warning of heavy rains in Gauteng and other parts of the country this week. According to the warning, this could lead to localised flooding in parts of Gauteng, the North West, parts of the Free State, Northern Cape and KwaZulu-Natal.
21 Feb 2017

Capitec simplifies fees further, no increase on remote banking fees

Capitec Bank has announced its 2017 pricing. The fees on remote banking (including internet and cellphone) will remain unchanged, while the fees for branch transactions will increase marginally and largely simplified to a set R5.00 per transaction. The changes come into effect on 1 March 2017.

Visit the official COVID-19 government website to stay informed: sacoronavirus.co.za