TAX Archives - Ultima Financial Planners

How to Take Advantage of the Donations Tax Allowance

July 28, 2023

“We make a living by what we get, but we make a life by what we give.” (Winston Churchill) Donations tax 101 Put simply; you can donate an amount of up to R100 000 per year to any third party, like a…

Budget 2023: The Minister of Finance Wants to Hear from You!

January 31, 2023

FinDotNews

“Finally, we pay tribute to the millions of South Africans, whose resilience and courage during these times of pandemic and economic hardship, is an inspiration to all of us who have the privilege to serve in the public sector.” (From…

Capital Gains Tax: 10 Common Questions Answered

August 30, 2022

FinDotNews

1. What’s the difference between CGT and income tax? CGT is a component of your income tax. When you sell an investment, 40% of the profit is added to your income and taxed at your marginal tax rate. CGT can…

Budget 2022 highlights

March 14, 2022

Eugene Antak

35 - 55 group, over 55 group, TAX, under 35 group

Budget 2022 highlights Below is a summary of the highlights of the budget speech. Personal tax SARS has not increased personal tax but adjusted the personal income tax bracket, for example while the maximum marginal rate for natural persons remains…

Proposal to increase retirement funds’ offshore allowance

March 7, 2022

Mark Bechard

35 - 55 group, over 55 group, Retirement, TAX, under 35 group

National Treasury’s proposal to harmonise the offshore limit for all insurance, retirement and savings funds will enable retirement funds to invest up to 45% of their capital offshore. This includes the 10% allowance for investments into other African countries, according…

Budget 2022: The Executive Summary

February 28, 2022

Alec Hogg

Over 35 - 55 Group, over 55 group, Retirement, TAX, under 35 group

SA’s total tax revenue exceeded the February 2021 Budget Speech estimate by R182bn at R1.55trn. A year ago revenue had been estimated at R1.4trn, which was adjusted to R1.5trn in November’s MTBPS. Year-on-year revenue growth in revenue was 24% (2021: R1.25trn).…

Ready, Set, Plan!

February 14, 2022

Rochelle Mylie

income protection, Investment, under 35 group

Every year, more and more young adults finish school or their degrees and enter the workforce. These young professionals face numerous challenges such as finding employment, entering into contracts on their own, and the most pressing of all – dealing…

Are retirement annuities still worth it?

January 19, 2022

Michael Haldane

#35-55Group, #FinancialPlanningAdvice, #over55Group, #RetirementAnnuity, #under35Group

With “RA season” in full swing, many investors are asking whether retirement annuities are still worth it with all the speak of prescribed assets and imminent legislation changes. The debate is quite hot. As with most things, you will have…

SARS sends out notice about offshore assets – what you should know if you get one

January 12, 2021

Jean du Toit

35 - 55 group, offshore investment, over 55 group

The days where SARS shuts its eyes to taxpayers’ offshore holdings are thing of the past, says Jean du Toit, head of Tax Technical at Tax Consulting SA. Du Toit said that SARS is finally utilising the Automatic Exchange of…

V&A: Relevante finansiële beplanning vrae tydens die Covid-19 pandemie

May 15, 2020

Ultima Financial Planners

covid-19, relevant beplanning

Hoe het die Covid-19 pandemie die manier waarop ek BEGROOT beïnvloed? Die Covid-19 pandemie en die daaropvolgende inperking het ons wêreld heeltemal verander. Vir die meeste van ons lyk ons maandelikse inkomste en uitgawes aansienlik anders as in Januarie 2020.…

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