- Everything you MUST know about tax and your investments
- If you've been acting on the share recommendations the FSPInvest team delivers every month in publications like The South African Investor, Real Wealth and Red Hot Penny Shares, then you're probably making handsome investment returns right now.
Soon, these investment returns will spark interest from SARS, and soon they'll come knocking asking for their share of your profits.
Your broker is... ››› more
- [09 June 2016]
- The underdog that could save you up to 30% in tax every year
- Rich South Africans pay expensive lawyers, accounts, tax planners and investment managers to ensure they legally pay as little tax as possible.
Now I know what you're thinking: “That's great, but not everyone can afford these expensive advisors.”
Well I've got good news for you: You don't need the help of expensive accountants, tax advisors or investment managers. Because all the tax inc... ››› more
- [19 May 2016]
- What are the chances the finance minister will introduce a new wealth tax?
- Tomorrow, the finance minister Nhlanhla Nene will give his medium-term budget.
With the government's coffers feeling the strain of slowing economic growth, Nene is under pressure to introduce new ways of increasing tax revenue. But how is he going to do it?
Since Thomas Piketty, a French economist, suggested introducing a new ‘wealth' tax in SA, could this happen?
Let's take a closer lo... ››› more
- [20 October 2015]
- If you're still paying tax on your investments you're losing out big-time!
- Do you own unit trusts, ETFs or shares?
If you do, you're paying 15% tax on all the dividends you receive.
You also pay 13.33% capital gains tax once you sell any of these. In fact, if you held them for less than three years you will end up paying up to 40% in income tax on them…
But you don't have to.
Stop paying tax on your investments today
The National Treasury introduced Tax... ››› more
- [23 September 2015]
- Thanks to the budget, if you're a higher earner you will be paying more income tax
- The budget address at the end of last month revealed some news that higher earners didn't want to hear. Personal income tax is rising if you earn more than R181,900 a year.
So what does this mean for you?
Let's take a closer look…
Personal income tax rises 1% if you earn more than R181,900 a year
During his first full budget speech, the finance minister Nhlanhla Nene said that “... ››› more
- [20 March 2015]
- Portfolio performing well? Bank your profits and you could be liable for capital gains tax…
- When you invest and your shares perform, once you sell your shares, you could be liable to pay tax on your gains.
It all comes down to how much money you make from your investments.
Let's take a closer look…
What is capital gains tax (CGT)?
Capital gains tax (CGT) is a tax you have to pay on any profits you make on the difference between the price you pay for something and what yo... ››› more
- [13 March 2015]
- How much of your stock market profits is SARS entitled to?
- When you invest and trade on the stock market, your main objective is to make money.
But if you've done well, chances are all the profits aren't yours. You'll have to pay SARS its cut.
So how do you know when you have to declare your profits to SARS from your investments? And what are you liable to pay?
Read on to find out…
Your tax liability to SARS when you invest and trade
W... ››› more
- [06 January 2015]
- Make sure you file your tax returns - only 8 days left!
- There are only eight days left to file your tax return, so make sure you don't leave it for the last minute. The deadline is November 21st, 2014.
Here is everything you need to know before submitting your tax return.
First of all, if you don’t have a tax number already, you need to apply for one with the South African Revenue Services before submitting your tax return. To get a tax number, ... ››› more
- [13 November 2014]
- How much of your tax goes to pay for South Africa's cabinet?
- When the ANC was re-elected in May, President Jacob Zuma beefed up his cabinet, adding more cost to the taxpayer.
But it's not just the wage bill that the taxpayer has to foot, it's all the trimmings that go along with it.
Have you thought about how much of your tax money goes towards paying for South Africa's cabinet?
Read on to find out more about the true cost…
The South Africa... ››› more
- [20 August 2014]
- Made a tidy profit from an investment? Chances are you'll have to pay capital gains tax
- If you hold shares and other investments for the long-term and sell them for a profit, depending on the size of your profit, you could have to pay capital gains tax to SARS.
So what exactly is capital gains tax? And how much profit to you have to make to pay capital gains tax?
Let's take a closer look…
What is capital gain tax (CGT)?
Any profits you make from selling an asset (lik... ››› more
- [13 August 2014]
- Tips for choosing the right tax practitioner
- Filing your annual tax return is quite a challenge and most people seek the services of a tax professional who can do all the work for them.
It's important to make a smart, carefully researched decision when choosing a tax professional to file your tax return and keep you informed about the latest changes in tax laws.
Here are some tips for choosing the right tax practitioner in times of ne... ››› more
- [29 July 2014]
- Personal tax alert: Here's how the National Budget's changes to medical tax credits affect you
- Growing your money is one thing, but if you really want to be wealthy, you need to protect it too. And one of the best ways to do this is by taking advantage of our taxes. Today, we explore how the changes Pravin Gordhan made to the medical tax credit system in his National Budget affects you…
Significant changes to medical tax credits were made in this year’s National Budget
If you con... ››› more
- [05 March 2014]
- Gauteng tops the tables for taxable income
- Earlier today, SARS released its 2013 Tax Statistics. The data, which covers the 2012 tax year, showed that nearly half of personal income that SARS gets its cut of is earned in the Gauteng province. Let's take a closer look at what the data revealed...
SARS's data on tax showed that individual taxpayers in Gauteng “earned 46.5% (R475.8 billion) of the country's total R1 trillion aggre... ››› more
- [21 October 2013]
- SARS warn taxpayers not to fall prey to fraudsters
- With just over a month left until the deadline for individuals to file their tax returns, SARS issues a warning. The Revenue Service says that people should avoid using tax advisers who claim they will definitely get the individual a tax refund. Let's take a closer look at what's going on...
Earlier today, SARS told “taxpayers to exercise caution against tax advisers” guaranteeing a tax reba... ››› more
- [15 October 2013]
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