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Useless savers

“Retirement Annuity season is upon us and many of you would have had calls from your financial advisor reminding you to top up your RA contributions to the present maximum allowed amount of 15% of your annual non...

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Natural way

South Africa’s rich natural resources of uranium make nuclear power generation of electricity a viable option. Indeed, the government views the use of nuclear power as a favourable alternative for meeting its energy...

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Tenacity from birth

“It is not how you start a journey that defines your character, but how you finish,” remarks Vusi Sithole, managing director of Nestlife assurance.


Despite challenging year globally, he says his...

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Deadline approaches

As the final March 2013 deadline for regulatory compliance approaches, the insurance industry is preparing for the effects that failure to obtain compliance could have on the finance and insurance sector.  Loss...

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Below global standards

When hazardous chemicals are spilled on the country’s roads, it has a potentially devastating impact in a number of ways, including environmental damage, delays caused to motorists on busy roads, cargo damage and even...

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In Africa for Africa…

Edward Nathan Sonnenbergs (ENS) is evidently the largest law firm on the African continent. And it wants to get bigger, which is why it has opened “another fully-integrated office in Africa”.


“We...

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Then and now

“At Cannon Asset Managers, we have always believed that the price you pay for an investment is the most important determinant of your investment return,” explains the company’s Geoff Blount. “Buying a good firm at a...

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Economic outlook

The Minister of Finance, Pravin Gordhan tabled a generally well balanced budget in parliament on 27 February. This budget, more than the previous three of this administration required a delicate balancing act; that of supporting growth,...

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The rising debt burden

Last year two ratings agencies downgraded South Africa’s credit rating on the back of a rising government debt burden, rising social tensions and perceived political uncertainty. A further downgrade occurred in January and two of the three...

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Debt needs to be repaid

The problem with debt is that it has to be repaid; another problem is that debt costs money.
In the past few financial years, the finance minister has been budgeting for a fairly large fiscal deficit.
During the 2007-08...

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Government hemmed in

Hemmed in from raising value-added tax (VAT), personal income and company taxes, Finance Minister Pravin Gordhan played his trump card in introducing carbon tax to the South African fiscus, Rhodes Business School tax professor Matthew...

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Significant opportunity

The 2013/2014 annual Budget Speech, saw Minister of Finance, Pravin Gordhan, urging South Africans to put our country first, detailing a long term vision and framework for growth and development. Despite South Africa facing challenging...

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Short on detail

Minister of Finance, Pravin Gordhan was short on detail regarding National Health Insurance (NHI) in his budget speech, indicating that the pace of implementation was slower than expected. “It was not so much what was said...

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FIA comments

Following the National Budget Speech by Finance Minister Pravin Gordhan on Wednesday, 27 February 2013, executive committee members of the Financial Intermediaries Association of Southern Africa (FIA) have provided some commentary around...

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Good starting point

Finance Minister Pravin Gordhan has outlined further proposals regarding retirement reform at the National Budget Speech for 2013 in the areas of the taxation of retirement funds; governance of trustees; preservation and annuitisation....

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Realistic expectations

“The confirmation by National Treasury of the introduction of tax-preferred savings and investment accounts by April 2015 is encouraging,” says Hugo Malherbe, Product Specialist at PPS Investments. He points out that, under current market...

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Thoughtful range

Willem Oberholzer, Tax partner, Grant Thornton Pretoria says, “Tax payers can breathe a sigh of relief because overall the status quo remains. Government seems to be consolidating. We’ve seen tax reforms for at least three years that were...