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Leading up to 2014/2015 budget announcement, Zweli Mabhoza, Head of Tax Services at SizweNatsalubaGobodo, Southern Africa's fifth largest accounting firm, believes that National Treasury’s intent to reduce the current fiscal deficit to 14,4% of collected revenue by 2016, will see Minister Pravin Ghordan having to consider some hard alternatives.
Now that we have had the first interest rate hike in years, the upward cycle will not easily be stopped. It is expected that interest rates will rise with between 200 and 300 basis points in the next year or two.
It seems as though South Africans had to sit and watch the world go by over the December festive season, as consumers spent a meagre 1.4% more on average per transaction at the tills year-on-year.
The 2014 annual Budget Speech will be presented by Minister Pravin Gordhan on 26 February 2014. The contents of the Speech, together with the State of the Nation Speech to be delivered by President Zuma on 13 February 2014, are considered to be critical in the run up to the general election that will be held later this year.
What can retirement funds do to improve client-adviser engagement during members’ employment years?