Treasury analysing SARS data in considering a possible wealth tax
MPs are also told that the fiscus cannot afford a permanent and expanded Social Relief of Distress grant without tax increases.
Industry News
Pension Funds Act amendments spark uncertainty over divorce and maintenance deductions
There is a legal grey area over the calculation of pension interest in divorce settlements and whether funds may now be permitted to make deductions for future maintenance orders.
Auto & General’s Knysna fires advert is not offensive, says ARB
Insurance advertising often addresses personal experiences of loss and hardship, so they are likely to trigger strong emotional responses, the Board says.
Tax Ombud flags SARS delays in meeting resolution deadlines
The Tax Ombud’s 2023/24 report highlights delays in SARS meeting resolution deadlines, an increase in complaints, and a concerning rise in eFiling profile hijacking.
Is the FSCA preparing for auto-enrolment to expand retirement coverage?
After years of stalled progress, the FSCA’s recent comments suggest National Treasury may renew its push for auto-enrolment.
Life insurers, investment companies report a 46% surge in fraud and dishonesty
The industry lost at least R175.9 million last year but prevented losses of R1.5 billion through enhanced detection efforts, says ASISA.
No more spam calls? Proposed amendment introduces opt-out registry
A proposed amendment to the Consumer Protection Act aims to establish an opt-out registry, allowing consumers to block unsolicited marketing messages.
Insured’s expert witness more credible than the insurer’s, judge finds
The court ruled that MiWay’s expert analysis relied too heavily on assumptions, while overlooking the driver’s account that he swerved to avoid a dog.
FSCA investigating Solis Markets following complaints from investors
The Authority also warns about fraudsters impersonating HF Markets, and urges caution when doing business with FXNONSTOP and Tiger Agriculture.
Clientèle aims to expand mass market reach with another acquisition
Following its recent purchase of 1Life, Clientèle has signed an agreement to buy micro-insurer Emerald Life.
SA credit rating upgrade is on the cards – not investment grade yet
The rating upgrade is likely to have profound implications for investment portfolios.
Solar PV: report underscores the need for comprehensive risk management
Allianz highlights the risks specific to rooftop and ground-mounted PV installations, emphasising the importance of fire safety, storm resilience, and theft prevention.
New era for Raging Bull Awards as passive funds join the line-up
This is one of the significant changes to the eligibility criteria.
Rising costs prompt members to weigh medical scheme options
Downgrading to a lower plan may appear to be a cost-saving strategy, but it frequently results in increased out-of-pocket expenses.
Deadline looms for Classic Financial Services’ victims: final call to claim
The liquidators of Classic Financial Services One are continuing with the collection of debts ‘to collect as much funds as possible for the estate’.
SARS will tighten the compliance screws to hit R1.84 trillion tax target
The MTBPS shows tax revenue will be below the Budget estimates, but SARS is adamant it will do everything in its power to collect as much money as it can.
ASISA says revised classification standard will make unit trust comparisons easier
The higher offshore investment limit necessitated a review of the standard.
