Many South Africans have contemplated a possible exit plan from the country, either now or in the future. It is important to understand the major consequences that emigration will have on your worldwide assets, investments, and tax status. In this newsletter, we tackle some important and difficult-to-understand financial issues regarding emigration, our obligations to SARS […]
Once you reach retirement, you need to make investment choices to ensure that the money you have saved will last as long as you live. Choose wisely to ensure your money outlasts you – here are your choices: You have three choices in this regard: a living annuity, a guaranteed life annuity or a […]
Your investment in human capital is just as important as your financial capital. A financial advisor is a pivotal element to the success of your portfolio. Managing personal finances can be a challenging task. With a myriad of financial options, complex investment strategies, and constantly changing market conditions, it is no wonder that many individuals […]
It depends on how much monthly income you will require in retirement and how much you want your loved ones to inherit the day you pass on. I often get asked: “How much is enough, and how much do I need the day I retire”? Well, that all depends on how much monthly income you […]
If you are a non-resident of South Africa and you inherit money from a South African estate, there are a few things you need to know. A person who has no ties to South Africa in any way would naturally be regarded as a bona fide non-tax resident of South Africa, however proof of your non-residency status […]
Overcontribution can be used to reduce or even neutralise the amount of tax paid on living annuity income payments. Not many investors are aware that any retirement contributions which did not previously qualify for a deduction can be used to reduce tax payable on retirement lump sums or post-retirement income. The total contributions an individual […]
The South African Reserve Bank (SARB) may no longer be a visible part of the process to cease residency in South Africa. However, when it comes to moving money out of the country during or after emigration, the Reserve Bank is still very much involved. This is especially true for amounts above R10 million. Currently, […]
In this note, we highlight ten general thoughts on the global and South African (SA) economy as we move into 2023. Over the next year, we expect slower global economic growth to dominate the agenda. A recessionary-like environment can be expected across developed markets (DMs), with more divergence in economic activity for emerging markets (EMs). […]
Life, they used to say, begins at 40. This was based on the idea that having married and started a family in your 20s, your kids would be grown and out of the house, your bond would be paid off and your parents were happily retired. So, you could start spending on yourself and enjoying […]
It’s worth committing to a set of healthy financial habits to strengthen your financial position in 2023 and beyond. If, as Jack Canfield says, ‘Your habits will determine your future’, it’s worth committing to a set of healthy financial habits to strengthen your financial position in 2023 and beyond. As we all know, there is […]