Personal finances

The big distinction between the three is that you can only join a Pension or Provident Fund through a company. This is something your employer should set up for you. A Retirement Annuity (RA) is different because it is independent of the company employing you. If you run your own business and operate as a sole proprietor, then this is the way you will probably be saving for retirement. You can however contribute to a RA via your employer and in fact, many companies are now sw

As a business owner in South Africa, you are required to implement a new administrative procedure either as a one-time task or whenever there are changes in your shareholders. Here is a brief overview of all the essential information you should be aware of concerning beneficial ownership registration. (Updated July 2024) What are the legal requirements? On 29 December 2022, the South African government confidently introduced the General Laws (Anti-Money Laundering and Combati

In South Africa, donations to eligible charitable organizations (S18) can be used to reduce your taxable income, providing you with a potential tax benefit. Here are some key points to consider when making donations to reduce your tax liability in South Africa: Donations to reduce Income Tax Eligible Charitable Organizations : Ensure that the organization to which you are making donations is registered as a Public Benefit Organization (PBO) or Non-Profit Organization (NPO) wi

We all dread the paying of taxes. And why should you not, you work hard to earn your money. Paying taxes is unavoidable, however if we do our tax planning properly you can at least lower the amount you pay over for taxes. Tax Return In South Africa, there are several strategies you can use to decrease your individual income tax liability. It's important to understand the tax laws specific to South Africa and consult with a tax professional to ensure you're complying with the