Retirement

Annuitisation of Provident funds with effect from 1 March 2021

The Taxation Law Amendment Act of 2020 was signed into law by the President on 20 January 2021. This has enacted the long awaited legislation which provides for the same annuitisation rules that apply to members of pension funds, pension preservation funds and retirement annuity funds, to be applied to members of provident funds and provident preservation funds, after 1 March 2021 (T Day).

Turning the tables on the taxman

As most people know, the more you earn the more tax you pay, says Khwezi Jackson, but fewer people know that tax incentives on retirement saving mean that the more you invest toward your old age, the more tax you save.

Retirement funds and emigration, what the law says

Several amendments to the Income Tax Act will come into effect on 1 March 2021, and those who intend on emigrating should be aware of how the changes impact them.

Glimmers of hope as investors start saving again