Does the industry possess the skills required for the future?
Skills shortages have become the norm as far as a lack of service delivery is concerned. Sadly, they are not restricted to the most obvious areas, such as Eskom and the SA Police […]
SARS publishes tax filing deadlines for 2026
The Notice also sets out who does and does not have to submit a tax return.
Treasury publishes draft two-pot retirement system legislation
The two-pot retirement system will come into effect on 1 March next year, according to draft legislation published for public comment by National Treasury on 31 July. However, in an accompanying media release, […]
Omut applies for leave to appeal Living Hands judgment
Financial publication Citywire broke the news late on Friday afternoon that Old Mutual Unit Trust Managers (Omut) has applied to the South Gauteng High Court for leave to appeal the Living Hands judgment. […]
Ombudsman sets out what consumers should know about prescription
The Ombudsman for Banking Services (OBS) has issued a communication that alerts consumers to their rights when it comes to debt that has prescribed. According to ombudsman Reana Steyn, most consumers are ignorant […]
What a new world order might mean for the global economy
The war in Ukraine is having a significant effect on inflation and activity in the world economy as commodity prices have soared and supply chains have been disrupted. Inflation in the G7 was […]
By how much will taxes have to increase to pay for a basic income grant?
Personal income tax (PIT), value-added tax (VAT) and corporate income tax (CIT) would have to increase by just under 5% to raise R50 billion, or by slightly more than 9% to raise R100bn, […]
Death claims during fourth Covid wave closer to pre-pandemic levels
Life insurers reported a significant drop in death claims for the six months to the end of March compared to previous six-month reporting periods since the start of the Covid-19 pandemic. South Africa […]
Tribunal sets aside debarment of bank employee accused of sharing confidential information
The Financial Services Tribunal (FST) has set aside the debarment of a bank employee, saying the possibility or suspicion of the transgression was not a sufficient reason for him to be debarred. The […]
Five misconceptions about crypto taxation
Since their inception in 2009, there have been many misconceptions about crypto assets, often referred to as cryptocurrencies. These misconceptions have cost investors millions of rands and have subsequently been addressed or explained […]
Tribunal: Adjudicator did not give employer and provident fund a fair hearing
The Financial Services Tribunal (FST) has set aside a determination by the Pension Funds Adjudicator after finding that her office did not serve the complaint on all the affected parties, thereby denying them […]
Tribunal advises FAIS Ombud on how to reconsider Sharemax determination
The Financial Services Tribunal (FST) has sent yet another determination related to an investment in Sharemax back to the FAIS Ombud for reconsideration, with the tribunal saying the ombud needed to apply the […]
Tech trends are bringing new risks for insurers
Technological development, although rapidly accelerated by the Covid-19 pandemic, has been changing the insurance landscape for some time. Nowhere have the effects of digitalisation been felt more acutely than in the agricultural sector, […]
NPA’s decision to drop Sharemax prosecution will impact investors and advisers
In 2020, Magnus Heystek wrote an article titled A truly horrific chart with nowhere for the JSE to hide, in which he compared the returns of various investment options over the previous 10 […]
Failure to update tax law is bad news for employees trying to claim home office expenses
Many taxpayers will again hit a wall when trying to claim any home office expenses during the current tax filing season, despite having worked mainly from home since the start of the Covid-19 […]
High Court rejects lockdown as reason for not adhering to vehicle finance agreement
The High Court in Pretoria has rejected a purchaser’s defence that the lockdown made it impossible for him to adhere to his vehicle finance agreement, finding that his inability to pay was due […]
Why do more South Africans feel better about their financial prospects?
According to a graph in this year’s Old Mutual Savings & Investment Monitor (OMSIM), 72% of respondents expect their financial prospects to improve over the next six months, whereas only 5% believe they […]
Why FSCA’s liquidation exemption stands despite conflicting with Board Notice
The Financial Services Tribunal (FST) has dismissed an application by an umbrella fund member who was aggrieved by the FSCA’s decision to exempt the fund from the full liquidation requirements in the Pension […]
