Alexforbes reports R7 billion in two-pot system withdrawals
It says 47% of members intend to make future claims – with 34% of those who have already claimed planning to do so again.
Industry News
Budget 2025: can debt stability lay the foundation for growth?
With South Africa’s debt-to-GDP ratio at 75.1%, Finance Minister Enoch Godongwana faces a tough balancing act – can his Budget Speech reassure investors and spark economic growth?
How to maximise your tax benefits in a two-pot era
Carla Rossouw, head of tax at Allan Gray, discusses what investors need to know about retirement fund products and the looming end-of-tax year deadline on 28 February.
Tax collections miss forecasts – will taxpayers bear the burden?
A dip in corporate and VAT revenues has left a R10bn hole in expected tax collections. As the Budget approaches, Treasury faces a difficult balancing act.
Farmer wins court battle over R10m insurance deduction
The Tax Court rules against SARS in a dispute over a contingency insurance deduction, reaffirming the legitimacy of the policy and its role in protecting income-generating activities.
Debt crisis deepens: South Africans using up to 75% of income to repay debt
DebtBusters’ Q4 2024 Debt Index reveals a worsening cash flow crunch, with rising reliance on short-term loans and record-high debt service ratios.
Ombud urges taxpayers to share eFiling hijacking experiences in survey
Have you or your clients been affected by eFiling profile hijacking? The Tax Ombud is investigating SARS’s handling of these incidents.
Surrenders and competition challenge the insurance market, says Moody’s
Life insurers are expected to maintain steady profitability, but policy surrenders and competition-driven pricing pressures could impact long-term growth.
Discovery vs RAF: CMS executive says High Court got it wrong
A regulatory expert believes the judgment misinterpreted key legal principles in its ruling on the RAF’s obligation to reimburse medical schemes.
PPS takes its mutual insurance model to the broader SA market
It says the new business division, called glu, provide members with straightforward insurance solutions and profit-sharing.
SIU investigation into Ithala tender unrelated to liquidation bid
Meanwhile, MPs have questioned the SARB’s push to liquidate Ithala, arguing it conflicts with Parliament’s resolution to support the bank’s growth.
DBE gets temporary relief from R5m fine, but legal battle over matric results continues
The Department of Basic Education has filed a review application, aiming to have the notice barring the publication of the matric results declared unconstitutional.
Insurance pioneer Douw Steyn passes away aged 72
His legacy includes a groundbreaking approach to selling insurance, building Steyn City, and a commitment to community development.
VBS scandal: six convicted, 35 arrested – and more to come
Authorities have convicted six individuals in the VBS Mutual Bank fraud case, including former executives and municipal officials. However, with 29 accused still on trial and 43 more suspects under investigation, the case is far from over.
SARS ramps up scrutiny as trust and provisional tax filings surge
With more tax returns submitted, SARS is intensifying efforts to ensure full compliance, particularly among trusts, using AI and data-driven enforcement.
SARS anticipates up to R12bn from two-pot withdrawals
This is double the initial estimate of between R5bn and R6bn.
Latest warnings against unauthorised operators soliciting ‘investments’
The FSCA has issued warnings about individuals and entities promising unrealistic returns while lacking the required authorisation to offer financial services.
