Articles tagged as "tax"
What you need to know about two-pot withdrawals and tax
The highly anticipated two-pot retirement system came into effect on 1 September 2024. There has been significant activity across the retirement fund industr...
Annual tax limits for investors who cease to be South African tax residents during the tax year
Annual contribution limits for tax-free investments and retirements funds have always been clear for individuals who have a full 12-month assessment period t...
Two-pot cheat sheet
Given the overwhelming amount of information available about the new two-pot retirement system, below we provide a “cheat sheet”, which includes 10 “did you...
Tips to help you get on top of your tax return this year
The South African Revenue Service (SARS) is focused on improving its systems and processes to ensure taxpayers comply with their legal obligations and file...
How to invest offshore with Allan Gray – and allow for the transfer of wealth
Investing offshore is an important way to diversify your portfolio, spread your risk and get access to companies and industries not available locally. Julie...
2024 Budget speech update
While South Africans battle with a cost-of-living crisis, rising unemployment and sluggish economic growth, Finance Minister Enoch Godongwana is faced with t...
2024 Budget: Walking a tightrope
The stage was set for a much-anticipated 2024 Budget speech during an election year.
Tap into tax benefits this February
The end of the tax year in February presents an opportunity to evaluate the tax efficiency of your financial plan. With many competing financial priorities i...
Offshore toolkit part 2: Unpacking South African tax obligations for non-resident living annuitants
South African legislation specifically prohibits the transfer of living annuities to other financial service providers abroad. Therefore, South Africans who...
Offshore toolkit part 1: Understanding your tax obligations on leaving South Africa
In part 1 of our Offshore toolkit series, Carla Rossouw, head of Tax, untangles the tax complexities you may encounter when you end your tax residency and...
Are you ready for the 2023 tax-filing season?
It is important for taxpayers to understand their filing obligations so that they can ensure compliance. Meagan Fraser covers the key dates to be aware of fo...
Unpacking the changes to the retirement fund lump sum tax tables
To account for the impact of inflation, this year’s National Budget introduced changes to the retirement fund lump sum tax tables for retirement fund cash lu...
2023 Budget speech update
The 2023 Budget speech was delivered against the backdrop of high living costs, a dismal unemployment rate and intensive loadshedding crippling businesses, a...
2023 Budget: A taxing balance
The 2023 Budget speech was delivered against the backdrop of high living costs, a dismal unemployment rate and intensive loadshedding crippling businesses, a...
The 2023 Budget: A crisis of credibility in the outer years of the forecast
Thalia Petousis, portfolio manager at Allan Gray, shares her views on the challenges of putting together a credible national budget
Tax tips as we head into the 2023 tax season
The end of February sees the tax year draw to a close – an opportune time to ensure that your tax affairs, and tax details, are up to date, and to consider...
Are you making the most of your tax-free investment account?
Tamryn Lamb and Twanji Kalula unpack the pros and cons of using tax-free investment accounts over the long term and explain how they can be used to complemen...
Podcast: Are better outcomes for retirement savers on the horizon?
Allan Gray’s head of Assurance, Richard Carter, joins Umbrella Fund specialist Mica Townsend to discuss the challenges with the current system, the...
Are you ready for the 2022 modernised tax-filing season?
As SARS rolls out changes to simplify and shorten tax-filing season, tax specialist Liezl Alberts reviews what has changed this year and outlines who must fi...
How SARS has changed tax for annuitants
The South African Revenue Service recently changed the way tax is calculated for living annuitants. Carrie Norden discusses the rationale behind this change...
Making sense of changing tax laws
1 March marked the beginning of the 2022/2023 tax year and ushered in new tax laws pertaining to, among others, retirement fund products and fixed tax rates...
The long road to debt reform: SA’s Budget underwhelms bond investors
Despite the positivity priced into the Budget from the much-publicised tax revenue overruns, the outcome has positively underwhelmed South African bond...
2022 Budget speech update
Finance Minister Enoch Godongwana delivered his maiden Budget speech on Wednesday, 23 February. He noted that although the easing of COVID-19-related...
A responsible Budget signalling optimism
The high cost of living, fuelled by rising inflation, significant fuel price increases and a series of interest rate hikes (which are likely set to continue)...
‘Hopeful Budget’ may strike right notes, but tax clarity and economic reforms are needed
This year’s Budget speech, set to be delivered on 23 February by Finance Minister Enoch Godongwana, is likely to strike an optimistic chord thanks to a numbe...
How to maximise tax benefits before the end of February
In the spirit of tax season, Carla Rossouw, tax lead at Allan Gray, discusses how investors can make their money work harder using tax breaks. This is always...
Do I need to file an income tax return for the 2021 tax year?
The South African Revenue Service (SARS) continues to focus on introducing online and digital services, simplifying the tax-filing process, and making it...
2021 Budget speech update
Finance Minister Tito Mboweni delivered the Budget speech on Wednesday, 24 February. Against the backdrop of the COVID-19 pandemic, the Budget was more...
2021 Budget signals hope for SA taxpayers
Minimal tax measures aim to bring relief to taxpayers and bolster economy.
What can we expect from the 2021 Budget?
It is that time of the year again, we are holding our breath to see what the 2021 Budget speech will deliver against a backdrop of the devastating loss,...
Investing with tax benefits in mind during uncertain times
Amid the extreme uncertainty brought on by COVID-19 and the ongoing lockdown restrictions, investors are tasked with looking beyond the current crisis and...
Understand your total tax liability if you have multiple sources of income
If you have multiple sources of income, you must ensure that the correct tax rate is being applied by your employer and/or annuity provider – or you could be...
Should I file a tax return for the 2020 tax year?
In response to COVID-19, the South African Revenue Service (SARS) has tried to simplify the tax filing process for individual taxpayers and remove the need t...
Part 5: Why every investor needs an independent adviser right now
Investors are panicked and who can blame them? The market volatility has persuaded some to run for the hills and never look back, while others may be tempted...
New tax laws for expats
The laws around tax for South Africans who live and work abroad have changed and it’s important to work out whether or not you are now expected to pay tax on...
2020 Budget speech update
Finance Minister Tito Mboweni delivered the Budget speech on Wednesday, 26 February. In this document we highlight some of the 2020 Budget tax proposals that...
2020 Budget: Stuck between a rock and a hard place
A revenue shortfall of R50bn was announced in the Medium-Term Budget Policy Statement (MTBPS) in October 2019, and this sets the scene for the 2020 Budget....
2020 Budget: Managing the wage bill and fixing Eskom's credibility
The National Treasury faces formidable challenges in preparing the Budget for the 2020/21 fiscal year, which will be presented on 26 February. Projections...
Making the most of personal tax incentives
After spending decades nurturing their careers, most people hope to enjoy the fruits of their labour in the form of a sustainable income in retirement. Makin...
Make the most of your tax benefits
The South African Revenue Service (SARS) has put several tax incentives in place to encourage us to save more for our retirement and other long-term goals. Y...
Facing the facts around retrenchment
With the latest GDP growth figures showing that the economy contracted 0.6% in the third quarter, SAA heading into business rescue, and the problems at Eskom...
To file or not to file a tax return
The South African Revenue Service’s (SARS’) 2019 tax season for non-provisional individual taxpayers officially started on 1 August 2019, with those filing v...
Unravelling your residencies – exchange control, tax and citizenship
South Africans who live and work abroad are not currently subject to income tax on the income they earn outside of South Africa, provided they spend more tha...
2019 Budget speech update
Finance Minister Tito Mboweni delivered his maiden budget speech on Wednesday 20 February. In this document we highlight some of the 2019 Budget tax proposal...
Budget 2019: Focus shifts to restoring credibility
Finance Minister Tito Mboweni’s maiden Budget Speech didn’t deliver any major punches such as 2018’s surprise 1% VAT hike, but instead sought to acknowledge...
Is there any tax benefit in saving over the annual tax deductible amount towards retirement?
One of the key benefits of investing for retirement using a retirement fund is the generous tax deduction for contributions, subject to a maximum of 27.5% of...
Why retirement contributions don’t reduce your taxable capital gains
You may be aware that every tax year you can make a pre-tax contribution to your retirement fund of up to 27.5% of the higher of taxable income or...
Don't get caught short this tax season
With the tax season deadlines brought forward by a month this year, it’s time to get your supporting documents ready and to do your return. Uncertainty actin...
Bump up your savings with a tax-free investment
Have you taken the plunge and started your own business, but sacrificed some (if not all) of your savings to do it? Mthobisi Mthimkhulu suggests using a...
Cashing in on your tax refund
Between April 2017 and February 2018, the South African Revenue Service (SARS) paid out more than R205 billion to taxpayers. If you are lucky enough to have...
VAT increase unavoidable
The Budget Speech delivered by Finance Minister Malusi Gigaba was a careful step in the right direction in an environment where hard decisions are...
2018 Budget speech update
The Minister of Finance announced amendments to tax and other legislation that may affect investors. These changes come into effect on 1 March 2018...
Top up your umbrella fund now to maximise your annual tax benefits
With the end of the tax year fast approaching, investors who are saving for retirement through their employer’s umbrella fund have until 28 February...
Fixing the South African economy
If we can make necessary changes domestically, favourable global business conditions will support a rapid economic turnaround. Now that the ANC conference is...
How to maximise tax benefits before the end of the tax year
The end of February is the end of the tax year. Carla Rossouw explains why this is a good time to take maximum advantage of the incentives the government has...
What taxes do I pay when I invest offshore?
Investing offshore allows you to diversify and benefit from a broader universe of investment ideas, but what about the tax you may have to pay?As with any...
PART 5: What should I invest in?
Tax and law are wrapped around every investment product. Knowing the rules can help you choose the right product for your needs...
Tax season: Your top tax investment questions answered
Confused about how to report on your investments to SARS? With the 2017 tax season in full swing, now is the time to get your documents ready.
Retiring or withdrawing? Think carefully before sending us the form
After a lifetime of work retirement is often a welcome change of pace, but many people rush into a decision to retire or withdraw from their retirement fund....
Investment Summit to give an inside view from fund management houses
Allan Gray is bringing a group of international and local investment houses together to debate investment insights in a new one-day event, aimed at helping...
The economics of taxation
An efficient tax system is a necessary feature of a modern state. Taxes have always been a focus of political concern, even when, by modern standards...
How to combat the budget pinch
Some weeks have passed since former Finance Minister Pravin Gordhan’s Budget speech, but we are only just beginning to feel the pinch. Carla Rossouw discusse...
2017 Budget speech update
The Minister of Finance announced amendments to tax and other legislation that may affect investors. These changes are discussed in detail below and, unless...
How does the Budget impact me?
The 2017 Budget had some surprises, especially for the wealthy, with steep increases in income tax and dividend withholding tax. But we need to look beyond t...
Read beyond the Budget headlines: Bracket creep hits low to middle income earners
The 2017 Budget had some surprises, especially for the wealthy, with steep increases in income tax and dividend withholding tax. But the silent tax increase ...
What are the tax benefits of contributing to a retirement annuity?
The South African Revenue Service (SARS) wants to help you pay for your retirement. The way in which they do this is by offering generous tax deductions when...
How to maximise tax benefits before the end of the tax year 2016
Every year at around this time – ahead of the end of the tax year in February – we remind investors to think about taking advantage of some of the incentives...
Read the fine print before you decide to withdraw or retire from your preservation fund
South Africans on average change jobs about five to seven times during their working lives. More than two-thirds do not preserve their retirement savings whe...
How to make sense of tax in unit trusts
The tax you pay can have big impact on your return over time. While you cannot make investment decisions based on tax alone, it is also a factor that cannot ...
Invest for your child’s future today with a tax-free investment account
For most parents looking to make a long-term investment on behalf of their minor children, a tax-free investment account is an option worth investigating....
How can I earn higher returns and pay less tax?
Tax has a significant impact on the returns of your investment. If, like most of us, you would like to see more return in your account and less in the hands ...
2016 Budget speech update
The Minister of Finance announced amendments to tax and other legislation that may affect investors.
What you need to know about the retirement fund changes
National Treasury is making changes to retirement legislation to encourage investors to save more for their retirement and to improve the alignment between t...
Welcome amendments to retirement reform
The retirement reform amendments contained in the Taxation Laws Amendment Bill, which will come into effect on 1 March 2016, are a positive step by Treasury ...
More for the future you, less for the tax man
The tides are changing in the retirement savings space, with National Treasury encouraging us to save more for retirement by significantly increasing the tax...
Your minor children and the taxman
Investing on behalf of your children is a generous act of foresight and, if you can afford to do it, opens up future opportunities for them. Unit trusts are ...
Convert part of your tax bill into retirement savings
While the long-term benefit of saving for a secure retirement may be obvious, investors may not appreciate the extra tax boost available from saving in an...
Retirement fund withdrawals and tax
The 2014 National Budget introduced changes to the retirement tax table. From 1 March 2014, the tax-free amount members and beneficiaries can take as a lump...
Group retirement annuities bolstered by retirement reform
You should not let the current uncertainty around retirement reform inhibit your willingness to save for your retirement; it is very difficult to make up for...
Retirement reform: How will the changes affect you?
With a very small percentage of South Africans able to support themselves financially in retirement, Treasury has been taking a thorough look at retirement...
The real effect of Dividend Withholding Tax
The new Dividend Withholding Tax (DWT) replaced Secondary Tax on Companies (STC) on 1 April 2012. Investors are understandably concerned about the long-term...
Dividend Withholding Tax increases to 15%
During his recent budget speech, Minister of Finance Pravin Gordhan, announced that Dividend Withholding Tax (DWT) will be levied at a rate of 15% when it is...
New Dividend Withholding Tax: how will it affect you?
As part of his February 2011 Budget speech, Minister of Finance Pravin Gordhan announced that Dividend Withholding Tax would come into effect from 1 April...
Do the more restrictive individual investment limits on RAs outweigh their tax benefits?
Previously, retirement funds were considered an obvious choice for many investors due to the tax benefits they afforded. However, changes to Regulation 28 of...
Solving the problem of retirement funding for small and medium-size businesses
In Quarterly Commentary 1 of 2008 we introduced you to the Allan Gray Group Retirement Annuity. Two years on we reflect on how this system is proving to be a...
Early withdrawals from your retirement savings can be taxing
In this article, Michael Summerton and Carla Rossouw provide an overview of how withdrawal and retirement benefits are taxed. They use practical examples to...
Capital Gains Tax and how it affects unit trust investors
At Allan Gray, we focus on managing your investments. We acknowledge that there are important aspects of investing - such as tax on your investments - that a...
