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 experienced the fourth wave of Covid infections in December 2021, which peaked during the middle of that month. The Association for Savings […]

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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 tribunal provided the following context to the matter: First National Bank conducts investigations into instances of employees who provide account information to […]

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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 on numerous media platforms. By now, even novice investors should know that crypto assets are not the preferred mode of buying illicit […]

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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 legal tests for negligence and causation to the matter. Read: FAIS Ombud did not act impartially in Sharemax matter, says tribunal Read: […]

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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, where technological innovation has propelled widespread change over the past decade. An example is the emergence of precision farming, which employs several […]

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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 pandemic. There has been no legislative response to the hybrid workplace, where people work partly from home and partly from the office. […]

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