The Stage
The ins and outs of key reform issues

During the 2018 Budget Speech, Finance Minister Malusi Gigaba stressed the important role that the financial services industry plays in South Africa. He also noted that there has been some uncertainty in the industry, and that Twin Peaks will be implemented on 1 April.

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Straight Talk
Tax at a cost to others

In the 2018 Budget Speech Minister of Finance, Malusi Gigaba, stated “Over the medium term, the National Health Insurance (NHI) is allocated an additional R4.2 billion, funded through an amendment to the medical expenses tax subsidy. Over the next three years, below-inflation increases in medical tax credits will help government to fund the rollout of NHI,” the budget review stated. Overall, government will be spending R205 billion on health in 2018/19 growing to R240 billion by 2020/21.

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Featured story
Intermediated advice: Cornerstone of microinsurance

South Africa, as is the case with most developing countries, has a problem in that its population is often defined along the lines of the haves and the have nots. This poses a problem when we look at the situation with the lens of the financial services sector. The regulator and government hope to address this soon to encourage financial inclusion.

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Quick Polls


Government has raised the VAT rate. How will this impact short term insurance policies?


There will be a lot of confusion. If a policy is written at 14% and subsequently cancelled (at 15%), how much is the refunded amount?
All will be ok. The industry has had time to prepare for the VAT increase.
Government has really not thought through what the unintended consequences of the increase would be.
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