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02 Mar 2015

Budget 2015 - do you want stability or growth?

How are you feeling about Budget 2015? Aside from the more tax we will be paying that we suspected we would be paying and that VERY BIG increase in the price of petrol – are you in the camp that says the Minister did a good job with what he had and has made all...
02 Mar 2015

Using the cloud in financial services consulting

The empowered FP in action Compiled by WordSure – record-keeping technology provider. Imagine consulting on a matter and have the transcription typed and sent to the client before you’ve even arrived back at the office. The digitally empowered financial planner is able to automatically record important meetings and conversations to the cloud, and give their...
02 Mar 2015

Greece, an unsteady first step

By Derry Pickford, Macro Analyst at Ashburton Investments The new Greek government and the Troika have successfully cleared the first and easiest hurdle to Greece remaining within the Eurozone. There are unfortunately several more difficult obstacles yet to overcome. While we believe both sides wish to avoid “Grexit”, the chance of a policy mistake remains:...
02 Mar 2015

World remains an oyster for the wealthy post Budget 2015

The latest budget is a bitter sweet one for high net worth individuals, with this year’s tax blow softer than expected, and good news on foreign regulations. Even though personal tax and tax on trusts have increased by 1%, and the transfer fees on homes over R2,5-million have gone up by 3%, the fact that...
27 Feb 2015

Property sector welcomes budget news that unlisted funds could soon enjoy REIT status

South Africa’s commercial real estate sector welcomed the announcement by Minister of Finance Nhlanhla Nene in his budget speech yesterday that National Treasury is supporting, and working towards, extending South Africa’s REIT (Real Estate Investment Trust) dispensation to unlisted property-owning companies. Impacting every man in the street through their pension savings, there are billions of...
26 Feb 2015

Transfer duty amendment a counter-productive move

By Louis Venter, Head of Private Clients, Maitland Transfer duty on the purchase of property was been amended quite substantially in the 2015 Budget. But what has been intended as a wealth tax might backfire when the forces of supply and demand have permeated through the system. Let’s put the proposals into the practical perspective...
26 Feb 2015

FISA comment on National Budget 2015

Closing down the abuse of retirement annuity contributions to avoid estate duty In a budget with few surprises the Minister of Finance announced several tax increases and measures to prevent tax leakage. From an estate planning perspective, the tax rate for trusts is increased from 40% to 41%, while the corporate tax rate of 28%...
26 Feb 2015

Strides to boost small business to be praised, but higher marginal rate a concern

High to middle income earners and consumers of alcohol and cigarettes suffered the brunt of the pain meted out by the government in the 2015/16 Budget speech, but the government also made important strides to simplify tax compliance for small businesses, said Deloitte on Wednesday. Additional sources of tax revenue might have been increases in...
26 Feb 2015

SA corporates worse-off

South African corporates will be worse off under the abolition of section 6quin tax credits which is likely to dampen trade and investment into Africa. The section 6quin tax credit arose as a result of extensive lobbying by local corporates, who were subjected to high withholding taxes in other African countries on service fees charged...
26 Feb 2015

What the Minister of Finance said and what it means for you

Our national budget is, in many respects, no different to our own personal household budgets. Karin Muller, head of Sanlam Growth Market Solutions, explains: “Over the last couple of years consumers have experienced greater pressure on their wallets, as our income has not been able to keep up with the increased prices we’re paying for...

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