Budget 2022 highlights
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 at 45% and is reached when taxable income exceeds R1 731 600.00, the minimum rate of tax […]
Proposal to increase retirement funds’ offshore allowance
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 to the Budget Review. The proposal implies that the current Regulation 28 offshore limit of […]
Budget 2022: The Executive Summary
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). Improved revenue is primarily due to improved commodity prices, with corporate tax receipts from mining […]
My Will and Assets Abroad
[vc_row][vc_column][us_btn text=”Read Afrikaans” align=”center” link=”url:%23Afrikaans||”][vc_column_text] Wills: If you have assets beyond the borders of South Africa (SA), it is advisable for you to have another will prepared in the country of relevance (jurisdiction). Laws of succession differ from country to country and a will should be drawn up in accordance with the relevant country’s laws. […]
