Savings & Investments

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Time for a saving spree – tax free!

19 February 2016

With the end of the tax year fast approaching, investors have only until 29 February to make their annual contributions to products that facilitate tax-free investing. The retirement annuity (RA) has been around for many years, but this is the first year that investors need to remember to contribute to a tax-free savings account (TFSA) as well, to make full use of their annual contributions allowed by SARS.

Getting your financial goals set for the year

12 February 2016

Most Economists agree that 2016 will be a year in which individuals and households will experience increased pressure on their finances. A weak exchange rate, the impact of droughts on food prices as well as continued increases in the general cost of living will see inflation rising. As a result interest rates will continue to rise and the cost of household debt will increase resulting in further pressure on cash flows. How will South Africans be able to make provision for retirement savings under these circumstances? A good point of departure when it comes to managing one’s personal finances is to set SMART objectives.

The difference between a Tax Free Savings Account and a Retirement Annuity

02 February 2016

Many people don’t understand which tax is being referred to when discussing Tax Free Savings Accounts (TFSA), says financial consultant Carl van der Berg of Alexander Forbes Financial Planning Consultants.

Why South Africa needs to ‘save itself’

02 December 2015

Most of us are aware of the sad state of our national savings in South Africa (SA), which has been in a state of steady decline over the last two decades. However, the important role that savings plays in the country’s sustained economic growth has not always been appreciated.

quick poll

Question

If you had to hazard a guess, when do you reckon the COFI Bill will be signed into law?

Answer

2026, as promised 2027 looks more likely Impossible to say More consultation needed

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