Paying taxes is an activity done by all but enjoyed by no one and it’s therefore no wonder that people are constantly trying to find legal methods to pay less tax.
However, when it comes to saving your hard earned money from the taxman, one really needs to look no further than travel allowances. Many employees use their own personal vehicles to carry out business related tasks on a day-to-day basis and the scarily exciting thing is that it is perfectly legal to claim an allowance on this expense! However, there are some finer details to be processed before one becomes eligible for this tax saving method: Continue reading
Lately, the South African government has been looking to address the prevalent problem in our society of both individuals and households simply refusing to save a large enough portion of their income. The government’s solution to this problem? New tax free investments made available to all!
Why is Saving Important?
It can be very tempting to go out and spend all your money as soon as you receive it but there is no denying that this strategy will have disastrous consequences in the long run. Continue reading
When an important financial player such as Allan Gray announces a sweeping policy change to their Equity Fund unit trusts, it is usually a good idea to pay attention. So what are these changes? And furthermore, why have these changes been made?
The primary change to concern yourself with if you’re an investor in Allan Gray’s Equity Fund is the decision taken by the financial firm to invest a greater percentage of their funds offshore. But Why? And is this a good thing? Continue reading
The full implementation of the much-anticipated Retail Distribution Review (RDR) paper, released by the Financial Services Board (FSB), is expected in mid 2016, and the FSB has been collating comments from industry since the paper’s release.
The study was built on the foundation of the (Financial Advisory and Intermediary Services) FAIS Act, which promoted greater industry professionalism, and is informed by Treating Customers Fairly (TCF). The aim is to reduce the negative associations customers have about the financial advice process and have greater transparency all round. Customers need to know what’s on offer and trust the advice process is about serving their needs, not just the industry and its representatives. Continue reading