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In 2020 there was a glimmer of hope as we saw no major tax increases to personal income tax (PIT) and no changes to the corporate or value-added tax (VAT) rate.
One year ago, the key risks to the fiscus were the government wage bill and capital requirements of badly run, inefficient state-owned enterprises.
The most pertinent question from the ordinary South African is, will the minister increase our taxes? The fear of the increase in tax is justified if one looks at the limited options that government has with the low economic output and resultant low revenue.
What can retirement funds do to improve client-adviser engagement during members’ employment years?