In the National Treasury’s latest published Draft Tax Bills, which incorporates the tax proposals made in the 2021 Budget, the amendment proposes a particularly worrying amendment which may upend taxpayers’ carefully planned retirement. The Draft Taxation Laws Amendment Bill (TLAB) proposes an additional “exit tax” to tax retirement fund interests of individuals when they cease South African tax residency. This proposed amendment, due to come into operation on 1 March 2022, would be a further blow to emigrating South Africans wanting to cease their tax residency
Continue reading…
Emigration Tax? ANC Regime to Charge Emigrating South Africans an Additional “Exit Tax” on Retirement Funds!
Posted on Leave a comment
Capitec director gets rid of all his shares
Posted on Leave a comment
Capitec director, Jean Pierre starred, sold all his shares on Tuesday. That was 5,000 shares at a total of R7.2m. He said it was a personal decision to sell now. Pierre, one of the best-known short sellers in South Africa, became an independent non-executive director of Capitec at the beginning of 2015. Before long, he..
Continue reading…
Foreign investors sell R25bn worth of shares in SA
Health care shares dropped R14 billion since announcement of NHI
Posted on Leave a comment
The FF Plus is seriously worried about the negative impact that the tabling of the National Health Insurance (NHI) Bill in Parliament last Thursday has since had on the country’s economy. It is not only the Discovery group’s shares that fell on the Johannesburg Stock Exchange. Yesterday, an amount of R14 billion was lost in..
Continue reading…
Like Spur, Discovery will find out that racial discrimination does not work
Posted on Leave a comment
Discovery’s plan to allocate ten percent of its shares to black clients at no cost under the smoke screen of empowerment is nothing but blatant racism. In essence, Discovery’s idea to establish a new bank is a good one seeing as it will encourage competition in the banking industry. It is just a shame that..
Continue reading…
Racial discrimination: South-Africans can now get free shares in Discovery Bank by depositing money with it – that is of course only if you are Black!
Posted on Leave a comment
Discovery Bank will give up to 10% of its shares to black depositors in an empowerment scheme, the Discovery group announced on Wednesday. The shares will be vendor-financed, and so risk-free. The details of how they will be allocated are still being worked out. The plan is for up to 10% of the shares in..
Continue reading…
Pension funds as much as R560 million may be lost due to fraudulent activities
Posted on Leave a comment
BEE administrator loses millions of pension funds – Pension funds of Anglo Platinum, invested in the (BBF), administered by Bophelo Benefit Services, a subsidiary of Mvumonala Holdings, may be lost due to fraudulent activities. It is estimated that as much as R560 million can be involved. Apparently, the company ‘cooked’ its 2016 financial statements to..
Continue reading…