SARS is clamping down on undeclared crypto holdings and trades
Among other measures, SARS says it is engaging with the FSCA about providing information on registered crypto asset service providers.
Muvhango Lukhaimane will also consult with trustees on guidelines for naming and shaming problematic funds, administrators, and employers.
Among other measures, SARS says it is engaging with the FSCA about providing information on registered crypto asset service providers.
One of its four proposals is to allow members to transfer up to a third of their vested savings to their savings component.
Avoiding the tax hit is one of the reasons retirement fund members should have an emergency fund.
Emily Broodryk, Rion Malan, and Francois Mostert share why they found it rewarding to study for the Higher Certificate in Wealth Management at MBSE.
Retirement fund members must ensure their fund has their correct details and they are registered as a taxpayer with SARS.
Funds that cannot pay withdrawals because their rules are invalid must inform members why they may not be allowed to access their benefits.
Old Mutual’s learnings about what people know or expect, based on its interactions with customers and advisers.
Withdrawing early effectively means you are borrowing from your future self over a fixed term at your expected rate of return on your RA investment.
Members particularly need to understand pre-retirement withdrawals, and the implications of these withdrawals, including tax and liquidity at retirement.
The Actuarial Society of South Africa urges retirement fund members to check their benefit statement to see whether they will qualify for a withdrawal.
National Treasury will work with the Department of Health on the funding scenarios outlined in the 2017 White Paper.
The pension or provident fund is likely to have additional risk benefits that may change significantly when you leave your current company.
An entity can formalise its dormancy by way of a liquidation process or by deregistering with the Companies and Intellectual Property Commission.
There is a major difference between pre-retirement and post-retirement funds regarding the nomination and payment of beneficiaries.
One of the guides applies to the Income Tax Return for Trusts.
Money in the savings pot should be withdrawn only as a last resort, for absolute financial emergencies.
Administrators are concerned there is not enough time for financial advisers and members to understand the implications of the changes.