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Small businesses in South Africa are often managing multiple priorities such as business efficiency, innovation and growth. Amidst these daily challenges, many overlook the value of claiming the full range of tax benefits available to them.
With South Africans being able to invest up to 45% of their retirement savings, and up to R11 million in total per calendar year offshore, many are taking the opportunity to move their investments into foreign jurisdictions – a sound move that helps to mitigate local risks and accrue the benefits of a diversified portfolio.
South Africa’s fiscus needs every rand in tax revenue it can get, but potentially lucrative revenue streams are out of reach because tax registration snarl-ups prevent would-be taxpayers from contributing.
If you had to choose one approach to protect your hard-earned investment cash from today’s market madness, which would it be?