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micro

Microinsurers – Proposed exemption for Credit Life

The FSCA has published the draft exemption for Microinsurers offering Credit Life from Rule 2A.10.1 of the Policyholder Protection Rules which states “A microinsurance policy or a funeral policy may not prescribe that a policy benefit payable as a sum of money is payable directly to a service provider.” FSCA Communication 6 of 2019 notes that […]

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Levies

Proposed levies on Financial Institutions – FSCA requests comments

According to Pam Saxby of Legalbrief Policy Watch, the FSCA has called for input by 21 June 2019 on proposed levies for the 2019/20 financial year to be imposed on a raft of affected institutions. This includes: pension funds, their administrators and adjudicators; retirement annuity funds; friendly societies; short-term insurers and Lloyd’s underwriters; long-term insurers; intermediaries; collective […]

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Tax

Proposed tax changes – What South Africans may expect

In a recent BusinessTech article, Jerry Botha, managing partner of Tax Consulting SA outlined five possible tax changes that South Africans should know about. National Health Insurance and medical aid credits There are promised announcements around National Health Insurance especially the funding thereof in the Budget 2019/20. Travel reimbursement rates According to Botha the reimbursement […]

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