EXCHANGE CONTROL THRESHOLD CHANGES EFFECTIVE 1 APRIL 2015

EXCHANGE CONTROL THRESHOLD CHANGES EFFECTIVE 1 APRIL 2015 Exchange control rules are continually modernised to attract investment and enable local firms to expand internationally. With effect from 1 April 2015: Authorised dealers may process corporate investment up to R1 billion annually (up from R500 million) and may also carry over any unused allowance. South African residents’ Foreign Capital Allowance increases from R4 million to R10 million per year or upon emigration, or R20 million per family unit. The subcategories under the Individual Single Discretionary Allowance are removed and the annual R1 million allowance may…Read more …

Income Protection : Tax Changes

Impact of tax changes on income protection policies Recent changes to the Income Tax Act mean that, with effect from 1 March 2015, income protection premiums will no longer be tax-deductible. Importantly, income protection benefits will also no longer be taxed. This means your level of cover will effectively increase by the amount of tax previously payable on these benefits. What do these changes mean for income protection policies? While tax deductibility of premiums may have been lost, we believe income protection benefits have been enhanced by these changes: • Consistent tax treatment…Read more …

In Touch … With Audenberg Brokers

Growing up and helping them manage their finances The happiness of your children often goes hand in hand with helping them to obtain a successful financial future. As they get into their early twenties, and they start to enter the working world or perhaps near the completion of their tertiary studies, you’ll want to help guide them when it comes to making the best decisions about their finances. For some, this entails buying their first car for which we’ve provided useful tips on how younger drivers can cut costs on their car insurance…Read more …

DIE IMPAK VAN BEURTKRAG OP VERSEKERING

BEDRYFSOMSENDBRIEF SANTAM 26 Januarie 2015 Beurtkrag is weereens deel van ons daaglikse lewens en verskeie vrae word gevra of ons polishouers wel dekking het in terme van die polis en onder watter spesifieke afdeling of waar dekking bekom kan word. Hierdie dokument poog om hierdie vrae te beantwoord. Ten einde die inligting gebruikersvriendelik te hou, sal die onderwerp bespreek word met verwysing na die dekking wat verskaf word in terme van die standaard Santam Kommersiële bewoording (voorheen bekend as MMIII). Skade of verliese kan op die volgende wyses plaasvind: a. Skade aan of verlies van elektriese en elektroniese toerusting en…Read more …

Tax Evasion will catch up with you!

Tax evasion Hiding Sir’s Black Cash The leaking of old data creates fresh problems for HSBC                                         Feb 14th 2015 | From the print edition : The Economist IN 2008 Hervé Falciani left Switzerland for France, armed with account information on more than 100,000 customers of the Geneva branch of HSBC, where he had worked as a systems engineer. Much of the data, stolen to expose alleged tax evasion, was this week made public in a coordinated splash…Read more …