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Retirement Annuity contribution changes from 1 March 2015

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Loren le Roux, Trust Officer, advises Retirement Annuity holders regarding the implications of forthcoming tax changes. Government and Treasury are reforming the retirement industry in South Africa. Some of the aims are to simplify retirement products and their administration, lower costs, encourage South Africans to save more for retirement and to preserve those retirement savings […]

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How does the latest interest rate hike affect retirees?

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The South African Reserve Bank recently raised interest rates by 0.25%.  This was unusual because most interest rate adjustments are in increments of 0.5% in South Africa. The only other rate hike this year was 0.5% in January.  Before that however, the rate had remained flat at 5% for a period of 18 months.  Low […]

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The high cost of education

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Trust Officer Greg Nasson writes about education costs being on the rise, and that it’s time for parents AND grandparents to start saving. Monthly savings put into a unit trust fund can one day be redeemed to help towards tertiary education.   Statistics show that school fees are on the rise and more than 54% […]

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Deciphering the new Medical Credit system

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Manager of Personal Trust’s Tax Department, Ronald Smith clarifies the new medical aid tax credit system. In the 2012 Budget speech, it was announced that the medical deduction system would be replaced by a medical aid credit system for all taxpayers under the age of 65. This tax year, which commenced on 1 March 2014, […]

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