Asked by wienkas on 2012-05-17 11:53
Hi, ek wil graag meer weet oor living annuities. Is dit reg as ek sê hulle word nie as boedel ingesluit as dit n begunstigde op het nie.
As die eienaar van die annuity sterf, kan hy bv sy vrou opsit en die kry dan die inkomste, nog baie geld oor, sy sit haar 17 jarige kind op, moet hy wag tot op 55 voor hy die inkomste kry? En nog baie geld oor, kan hy dan weer sy kinders as begunstigdes opsit dus seker soos erfgeld? Maar wanneer vat die tax man die geld as die inkomste laag genoeg is, of as die kind nog nie n belastingpligtige is nie? En as die 17 jarige persoon sterf, wat alreeds die geld as inkomste ontvang hy is nog nie 55 nie, kan hy die geld aanstuur na n begunstigede, bv sy jonger suster? So ek dink die vraag is eintlik, asdaar baie geld is, kan mens die inkomste verdienste aangee of word jy erens verplig om die geld in n RA te bele tot jy 55 is?
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Asked by Kcaj Regurk on 2012-04-25 14:15
I am intersted in investing in retail savings bonds. How do the various options compare (RSA, Nedbank, etc) and which would I choose to provide me with the best net return on R100k over a 2, 3 & 5-year fixed term? When would selecting a fixed-term rate be a better bet than an inflation-linked rate?
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Asked by Notles on 2012-04-04 11:12
my mother in law is moving in with us and has a house which she has to sell. Can she use the money from the sale of her house to do improvements to our house and if so, is there a tax implication?
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Asked by juanita on 2012-04-02 16:12
is there any calculator that i can use to calculate my cost to company salary for a new position
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Asked by Kathy on 2012-03-29 01:07
I have donated/contributed furniture, money and household items to a charity called “my daughters first apartment”. can i claim any of these funds?
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Asked by LizBull on 2012-03-28 13:47
I own 50% share in a cc which holds property. If my partner has contributed more financially to the bond on the property, and I want him to buy me out of my share, can I request my 50% share of the market related price of the property and not have to forfeit the funds which he has contributed?
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Asked by Caro on 2012-02-27 08:17
Ek het geld wat binnekort los kom maar ek wil dit graag net tydelik vas bele vir 6 maande om so bietjie ekstra geld te kry. Wat stel julle voor
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Asked by AGNES CALITZ on 2012-01-30 15:49
how doI register a Trust Fund for my husband who is very ill, andI am no longer able to finance the meds and hospitilization
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Asked by gov.zazeldaappollis on 2012-01-07 08:48
I require R35 000 capital to start upmy ice-making business in Kuilsriver but I cannot find finance anywhere. Is there anyone who could possibly assist?
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Asked by emilea smith on 2011-12-13 10:15
does any one know of a” not so expensive bookeeper/accountant”im starting off my business, and came across expensive guys.. PLEASE ADVISE.. “pssst i’m still crawling”
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Asked by TREVOR on 2011-12-12 11:26
My daughter currently has a retirement annuity with Sanlam. The current value is approximately R90K. Her husband passed away and she is now studying for a degree in the USA which will take a few years to complete. Funds are tight and she finds it difficult to continue to make the R800 PM contribution. The Sanlam financial adviser is totally indifferent to her plight and the best advise appears to be to cancel the annuity. Is this a wise decision.What are the normal charges in cancelling the annuity, could the funds not be transferred to Alan Gray ?.
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Asked by madela on 2011-11-23 01:18
ibought masonge shares in 2008 while i ellerines employee but now i’m no longer with ellerines. i want to sell these shares now. What must i do
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Asked by ambrose on 2011-11-16 07:11
Unit trust vs Share trading, what are the better options for a monthly income under the current market climate?
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Asked by Simphiwe on 2011-11-15 16:31
How much will i get back from SARS pa, if i contribute R1750.per month to RA?
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Asked by ANNEMARIE on 2011-11-14 16:01
Goeiedag, ek het vir my 2 kinders beleggings by Nedbank uitgeneem maar die rente is maar 2.7%. Ek het dit nou onttrek en wil dit graag belê vir wanneer hulle gaan studeer. Ek het intussen nog ‘n siel ryker geword en wil vir hom ook bydrae. Ek sal graag die bedrag eenmalig wil belê, maar ek is nie seker wat die beste opsies is nie. Wat wil ek hê: optimale groei. My kinders is 12, 9 en 1jr en 5 mnde. Die totaal wat ek nou het R18 000. Kan julle asb vir my raad gee.
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Asked by TREVOR on 2011-11-09 06:04
When retiring a friend obtained a directive from SARS in respect of holiday pay and other funds due to him. SARS gave the directive on this lump sum. Shortly after he took the R315K which was due to him from his provident fund. The balance moved into a Living Annuity. Apparently SARS would not give a directive on this amount as they stated that two directives could not be given in the same year. He was therefore obliged to pay tax on the R315K which formed part of his provident fund. He was obliged to take early retirement due to the onset of Alzheimer. This does not make sense as I understood that the R315K is part of the agreement applicable to retirement funds.
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Asked by RianK on 2011-11-08 09:40
I’ve had an annuity for 20 years. Is it in any way possible that I can sell it or make money off it ?
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Asked by Tudhope on 2011-11-01 16:32
I am 60 and recently ost my husband. I received R150K from a policy he had. I have put this in the Standard Bank money market. I am getting another small payout should i do the some or should I rather try retail bonds, just wondered how secure are these. Thank you Elizabeth Tudhope
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Asked by Syndy on 2011-10-03 16:39
My mom assisted me with R1000000 which was paid to the bank for my home in July 2009. Please assist in how the best way would be to declare it (for myself & my mom) for tax due this November 2011? Part of it is an interest free loan (R500 000) of which I have R250 000 to pay back now. As it is 2 years later would R200 000 tax free gift apply or still only R100 000? Would I require a lawyer to draw up a loan agreement or how do I prove that part of the gift is a loan? Are Gifts taxable at 20 or 30%?
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Asked by blowdart17 on 2011-10-03 13:58
I want to know, I am currently working full time for an employer, but I am also studying part time towards my Commercial Pilot License, the problem is the funding.
I am looking at creating a website where people can donate towards my studies via Paypal etc, this money will be received and paid directly to the flying school. Will there be any tax involved with receiving this money, and will it be in anyway considered as laudering. Also will it affect my tax income from year to year, as a percentage of my salary already goes to my flying.
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Asked by toffee on 2011-10-02 06:33
what is the process I must follow in order to sell my member share, please. How do I then get out of the CC and how does the new partner come in?
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Asked by toffee on 2011-09-22 15:36
can I sell my member’s share of the CC to any person other than my current business partners?
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Asked by James on 2011-08-26 17:36
Hi All
with a Unit Trust,the first R20 000 of R25000 Capital Gains is tax free and you are tax 25% of the R5000 capital gains(R1250). Assuming that your marginal tax rate is 18% you will pay R225(1250*18) on the R5000 Capital gains.
What percentage of tax would you be taxed using above example of R5000 Capital Gains with an Exchanged Traded Fund? What would your marginal tax rate be for the above example with an Exhanged Traded Fund?
Regards James
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Asked by TREVOR on 2011-07-30 07:42
when transfering funds from company providend fund to a living annuity, can the funds be placed in the name of the spouse? The family have a future problemas the provident fund member hs been diagnosed with alzheimers
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Asked by GALALETSANG on 2011-07-01 14:30
I HAVE JUST REGISTER FOR SARS AND THEY SAY THAT MY SARS IS LIABLE IN 2012 WHAT DOES THAT MEAN
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Asked by cverheem@webmail.co.za on 2011-06-27 16:55
How do you calculate the tax, paye and uif for a gross salary of R20500
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Asked by Estelle on 2011-06-23 13:51
As a 10% memeber of a close corporation, do I share in all profits of the CC?
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Asked by Dlia on 2011-06-22 14:43
My husband has decided to go on early retirement. He is no 55 and have more than 35years service with the same company. We need your professional advise on how to go about as he wishes to invest the money. We are very blessed that we do not have house or car debt and our cars are reasonably new. We would however be needing +- R15000 per month to cover our needs as I also earn a monthly income on my pension investment.Thank you for your advise.
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Asked by ndlelapk on 2011-06-06 11:39
Which money market gives the best return if I want to invest R50 000
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Asked by SaraK on 2011-05-25 14:23
Hi there Please advise if one can claim medical aid contributions if the medical aid certificate is in one’s spouse’s name. The spouse is unemployed and does not have income to claim against. Thank you, Sara
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Asked by deekay on 2011-04-10 09:59
What to do with Provident fund when changing jobs?
I am changing jobs at the end of this month but have provident fund contributions with my current employer. The firm that I will be joining next month also have a compulsory provident fund. Can I and should I transfer the funds from the one provident fund to the other or transfer the funds to a Retirement Annuity that I also have going separately.
My financial advisory says it’s a bad idea to put in the companies provident fund I can’t see why though? I’m worried he may want me to put in the RA so that gets him more commission? What’s the better option?
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Asked by vusi7910 on 2011-04-06 11:34
i worked for the same company for 1 and half years earning R8000 a month how much am i likely to get since im not employed at present.
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Asked by Ann on 2011-02-28 15:14
What is the difference between TOPIX 100 Index and MSCI Japan Index and between MSCI Europe Index and DJ Euro Stoxx 50 Index.
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Asked by Vusi on 2011-02-11 15:43
is the 13th cheque same as bonus? how is it calculated (13th cheque)?
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Asked by lumka on 2011-01-30 21:14
I want to transfer my property into my trust. Will i be able to get a bond from the bank against this property when it has been transfered?
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Asked by sbisnath on 2011-01-28 12:21
I am in the process of applying for my fsb license,however in the interim period i would want to continue doing business.IAre there companies that offer juristic licenses? v, urgent
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Asked by wynand on 2011-01-24 08:31
Morning. I have been offered a position as a contracter to work for R350.00 per hour home based. How do I structure my salary?
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Asked by TallBlonde on 2011-01-18 12:52
I had spare cash and funds for my children for university but after my divorce and losing my job I am back to square one. My son is in grade 8 now and addimant to study medical. I have around R2000.00 per month to start investing in his future. How would I go about to invest and which would be the best options. Please bare in mind that I have had no previous experience in trading.
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Asked by grace on 2011-01-15 10:34
i am 29 year old,i want to become a financial adviser and to have the requirments,what do i do?
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Asked by Sachin on 2010-12-10 06:34
Am I entitled to holiday pay?
I’m working as a call-centre telemarketer for longer than a year at a companies offices under the direction of a supervisor on a commission per deal with incentives termed by the company as an “independent contractor” and not paid for time off/nor paid for time sick/nor paid for holiday pay when offices are closed.
I asked for hol pay and was told I was an “Ind contractor”.Is this legal?
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Asked by dazzle on 2010-12-02 11:23
Hi
I am trying to find the best way to spend my profits from my CC to avoid end of year company tax. what assets can i buy that will fall under capital expenditure and not be taxed the 28%? thanks in advance
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Asked by abraham on 2010-11-11 10:06
I am the only bread winner of a family comprising my wife and two children studying in schools and my wife is unemployed. All our major expenses like home loan, car loan, medical aid, home and life insurance charges, school fee etc needs to be covered from my take home salary I do get after deduction of tax. I do file return every year showing my income and deductions of provident fund and medical aid. I would like to know is there any means by which I can get any further tax relief/deductions for meeting the above listed expenditure except medical aid deductions.
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Asked by Terrik on 2010-10-08 12:35
Hi, we have just received the price from our transferring attourney and it is R19600.00 on a property price of R1 500 000.00, is there not supposed to be a standard charge by the lawyers?
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Asked by wowbagger on 2010-09-24 07:08
If I take a loan for R300 000 from my parents, is the amount considered a gift (i.e. is it taxable)?
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Asked by pidoski on 2010-09-20 15:31
I would like to have a RA and life cover which of the financial institution offers the reasonable payment?
Also would like to invest in the shares
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Asked by miemie on 2010-09-15 20:16
can staff book private car hire and accommodation on company books and pay it back later? Who tracing this and ensures it does get paid back?
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Asked by munya on 2010-09-11 13:14
I want to start an Investment Club but the difference will be I wont be taking money on a monthly basis but only when there is an investment opportunity. for an example when a specific business is up for sale, I will contact my members and we will each contribute money, each according to what he or she has, then we buy the business, run the business then maybe sale it off after some years. So there is no monthly contribution, just only when an opportunity arises. There will be a joining fee though. I want to have 50 members. Does this qualify as an Investment Club and what are the legal requirements for the organisation?
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Asked by Ikgantsheng on 2010-09-07 01:00
Hi, i need help, i have two different questions, may someone please guide me.
1. I would like to know if is allowed to have silent partners in the close corporation business. if yes, what the procedure can be? like, is that necessary to also put them in the business CK1, (do they also share the members interest?)
2. I would also like to know that, if the business is registered, as close corporation currently with one member, but not yet running, means there is no production yet. next year February during our financial year, is SARS anticipating us to pay tax? i mean the business is registered with SARS also, so that we can have a letter of good standing, for in case we start at anytime. but not yet started.
Yours Trully
Ikgantsheng.
1.
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Asked by Grant Rose on 2010-08-29 16:14
Do you have a provisional tax calculator for the 2010/2011 period, as 2009/2010 is over?
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Asked by NEVILLE on 2010-08-24 21:34
I WANT TO START A PRIVATE PRIMARY HEALTH CARE CLINIC AND WANT TO KNOW MORE ABOUT BEE ASSISTANCE AND BANKS OR BUSINESSES THAT CAN ASSIST FINANCIALLY
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Asked by slabs on 2010-08-19 20:06
I have about R100k available to invest, right now its just earning interest in call account. No bond, no need for new car, etc, just want to earn reasonable return in long run…what could I do?
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Asked by Ikgantsheng on 2010-08-15 02:26
Hi, I own a business, a closed corporation. the business has not yet started trading but i have already registered with the close corporation at April this year. making 100% interest because i am only one. Two of my friends wants to join me, and that means we must amend the CK1 by CK2, so that their names can also appear on the CK1 as memebers.
1. My Question is that, is it a good idea to add them into my business? especially because they are only bringing business ideas.
2. in that case, i would like to know more about, how do i then calculate their interest in the company?
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Asked by peetst on 2010-07-04 08:58
Hi – can you recomend a money mangagment system. (a budget planner). A freeware system or even excel application will do.
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Asked by Jay on 2010-06-18 16:40
This question concerns credit cards. To benefit from the 59-day interest-free credit, you need NOT pay the full balance that appears on your statement, because this balance may include transactions that are far less than 59 days old. This means that a statement should also have this information: MINIMUM PAYABLE TO AVOID INTEREST. This amount will be the TOTAL BALANCE DUE, less all transactions whose 59-day limit will occur after the next statement date. (These transactions can be paid by the next statement date, also without incurring interest.) Does any credit card supplier include this information I their statement? (You could do this manually, but the bank can just program the software to do this easily. They may get less money in per month, but I will be optimizing my cash flow, and benefitting fully from the interest-free period.) Or is my reasoning flawed?
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Asked by Jay on 2010-06-17 11:36
I’ve been looking in detail at budgeting from the point of view of the young salary earner. Pretend now that I am one of them. Many of us live too close to the edge, and often don’t leave enough credit in our salary account to cover stop orders and debit orders. (The total of these amounts is a fairly fixed figure from month to month.) This causes huge embarrassment, and even financial penalties… So – I need my bank to help me on this. Is there an account that will send a message to my cell phone or email address when my credit dips below say R2000? Or any number I choose? This will be SO helpful.
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Asked by Zenon on 2010-05-17 13:26
If I put money into a 12 month fixed deposit (that happens to span more than one tax year), am I only liable to pay tax on interest earned upon maturity (assuming interest is paid annually)? I was previously advised that the bank would issue an IT3B certificate for interest accrued from the first day on which I deposited the money up to the end of February (i.e. the first tax period) only, but upon requested the certificate for this from the bank I was told this is not actually the case. Could someone please advise?
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Asked by Marty on 2010-04-13 22:58
I have 400k available in my Access homeloan account, and want to purchase a buy-2-let flat.
Seeing that the funds are readily available, can I tell the agent that it’s a “cash deal”, to negotiate a lower price ? Once I sign an “offer to purchase”, do I have to transfer the full amount & do I transfer it to the agent or their attorneys ?
I believe expenses (interest, maintenance ect.) can only be claimed for 6 yrs ; what expenses are allowed from year 7 ?
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Asked by Sherry Mc Mahon on 2010-03-27 13:24
I have a metropolitan goal card which I received a few years ago. I deposited R500 into that account but was never notified that this card was made redundant for whatever reason. I would like to get my money back, please tell me what I have to do. Many thanks, Sherry
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Asked by molendorff on 2010-02-11 12:48
Can anyone recommend software I can use for managing personal finances( eg budget, expenses etc.). It can either be free software for dowmload or purchasing it?
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Asked by Sun Projects on 2010-02-06 09:49
Ek het ‘n eenman saak. Het sopas agtergekom dat die selfde naam deur ‘n ander besigheid gebruik word. Is dit wettig? Hoe kan daar onderskeid getref word tussen die 2 besighede?
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Asked by siba_jumba@yahoo.com on 2010-01-14 16:39
how to come up with name for a stokvel club
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Asked by nandi on 2010-01-05 10:00
hi ,they can help me to buy a car,with a less installedment,thank you
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Asked by lalberts on 2009-12-11 09:33
Hi there, I want to know how one can find the most competitive bond rates. Thanks so much, Liezl.
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Asked by Mary on 2009-11-30 09:41
What does it mean when the JSE remains ‘in auction’ instead of opening?
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Asked by Mary on 2009-11-18 09:23
Hello again. I’m helping out with the payroll while the responsible person is on maternity leave. One of the staff members want one week’s leave paid out to him. How does the tax on this work? And do we have to increase his pension fund contributions and UIF because of the leave encashment?
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Asked by Moratehi on 2009-11-09 11:07
Ive got R10 00 & I need to find a bank that offers higher interest over a 12 months period. Any ideas???
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Asked by Mary on 2009-10-26 12:36
My partner and I own a CC. We now want to invest a few R1000 per month. Would it be possible to invest it in my personal home loan and what would the tax consequences be?
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Asked by Moratehi on 2009-10-23 11:47
I need to find a garage that does in-house finance without banks with a reasonable deposit for bmw 120i
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Asked by Moratehi on 2009-10-22 13:06
I would like to join an investment club in Jo’burg bt I am a bit reluctant because there are so many cons out there. Does anyone know of any with great track record & reputation as well. And how does it work maybe Application forms and some contacts as well
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Asked by Moratehi on 2009-10-22 12:49
I fixed some money with Capitec in January this year & they are realising it early December, its about R25k, where can I invest it again because I dont really need it that much.
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Asked by petropeaches on 2009-10-07 07:56
My husband and I are currently working overseas. We have 3 properties in SA. I wrote to SARS and they advised we do not have to complete a tax return, HOWEVER, I don’t want to be caught by surprise one day and be told I need to pay a bunch of tax. How can I find out the basics of all tax in SA and what we need to do. We get rental from one property and want to turn the other one into a B&B and we want to make sure we do the right thing re SARS.
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Asked by petropeaches on 2009-10-07 07:38
I am asking on behalf of a friend. She is getting R400k from a policy. What is the best way to invest these funds? Should she purchase property? She is nervous to put it in the Bank and be taxed again as she already had to pay tax on the amount. What is the safest most cost effective way to deal with these funds and get a good return?
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Asked by Marty on 2009-10-04 23:48
I’m asking on behalf of my 60 yr old uncle ; he’s got two flexi-endowment policies maturing in 3 yrs ; premiums -R2000 pm and current surrender value -R400k, and he’s been paying 17 yrs on one & 7 yrs on the other, and he does not need the money. Question : does it make sense to mature it now & invest it in for eg Govt retail bonds,or pay the premiums for another 3 yrs.
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Asked by Mary on 2009-09-28 12:18
Anybody else on here who has a small business and still have to complete the BEE report? Where can I find more info on this? My turnover is between R5m and R10m per year, but my profit is less than R500 000 per year. And I have 15 employees.
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Asked by jacokemp on 2009-09-21 07:52
When buying an investment property, is the interest paid on the loan tax deductible?
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Asked by angie on 2009-09-18 19:11
i purchased a car with a residual/balloon payment, I would like to know what is expected or what choices I have should I trade this car in, for a smaller car?, will I have the choice of refinancing the residual and paying this off monthly or will I have to pay the full residual lump sum?
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Asked by Lauren on 2009-09-16 21:32
I would like to know what the amount is that I may receive/give as a gift to someone (not family) which will be tax exempt. i.e neither myself nor the other person will pay tax on money received/given
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Asked by Safari Planner on 2009-09-08 09:28
I want to sell my shares in a partnership. The other 2 partners are taking their time about putting an offer to purchase together. Who do I contact to place it on the “open market” and make an offer to sell instead?
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Asked by kholas on 2009-09-01 20:59
we just registersd close corporation so we strugling to get finanaces.where should we go?
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Asked by Mehul on 2009-08-18 13:14
Im part of a group of 28 guys. We contribute R150 to a Bank Stokvel Account. We need to form a Private Company. Where is the cheapest place to get one? Will our monthly contributions be taxed in the company or will it be credited to our individual loan accounts?We just make investments..Ie buy financial instruments in listed and unlisted institutions for long term..How will we be liable?We wont be trading.
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Asked by Mehul on 2009-08-05 20:05
Is there a specific type of legal entity that a medical practitioner needs to operate from if he does not want to trade in his sole capacity? Is there a restriction of him trading through a close corporation?
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Asked by Johan Stander on 2009-07-28 09:51
I attended a training course at OR Tambo, Southern Sun hotel on 23 July 2009. On this day i parked my motorbike in their secure parking area which i paid for. When i got to the parking where i left my bike it was gone / stolen. I reported it to the security (Fidelity guards) which told me that i parked at own risk and that they cannot do anything about it other than investigate it. I am convinced that they were part of it as it happened at the entrance gate to the parking (where security is present). I am waiting for insurance but either way i will be out of pocket as i owe a lot on the bike (R65,000).Can i do anything about it or claim anything from either the Hotel or security company because of the “own risk” disclaimer? I would like to contest this as I believe their inability to provide secure parking certainly caused this. Kindly assist or advise.
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Asked by henka on 2009-07-23 19:57
ANY COMMENTS ON PIC PROPERTY SINDICATIONS INVESTMENTS>
GUARANTEES 12.5% INCOME
100% CAPITAL GROWTH AFTER 5 YEARS
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Asked by futhi on 2009-07-20 15:00
how does a joined bond work? My friend and i want to know how much we should earn for a standard house?
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Asked by cdt on 2009-07-12 20:15
I am sitting on some money that I have temporarily ‘parked’ in a moneymarket account.
How would you invest (let’s say) 500K? I already own my house and am not really looking to invest in more property. I have spoken to a financial planner from my bank, but their suggestions do not speak to me at all. Where would you look for a financial planner?
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Asked by dazzle on 2009-07-06 15:41
I have a car allowance, and bought a ca through the company i work for, as i had just moved and had no credit rating. I think they may be going bankrupt soon. i assume if they liquidate, then my car will be repossed too? Also, i am trying to change the car into my name by trading it in for another under my name this time, my question on this is, what are the implications for the company? ie. Vat and selling it from the company?
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Asked by Marty on 2009-06-24 20:04
When I turn 55, would it be wise to take my 1/3 from my RA’s (meaning R546K from the first R600K), to pay-off my homeloans (investment prperties)
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Asked by Sean on 2009-06-22 14:52
I want to consolodate all my debt but I think I’m blacklisted and all I need is a personal loan to get rid of all my bad debt.
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Asked by des on 2009-05-28 17:22
FBT (Fringe Benefit Tax) rate. Where do I find the current rate? When and how frequently does SARS meet to change this?
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Asked by Mehul on 2009-05-18 16:57
I have a bank account that allows me to make five free transactions as long as i have a balance of R5000.00 and above. Will i be allowed to take another companies cash deposit 5 times a month and transfer the money into his account immediately – the exact amount? By doing this he wont get charged a heavy bank charge of 1%.i will charge him 0.05% bank charge on the amount transferred. What are the implications of doing this?
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Asked by Zenon on 2009-05-18 01:03
If I put money into a 12 month fixed deposit, am I only liable to pay tax on interest earned upon maturity (assuming interest is paid annually)?
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Asked by Mehul on 2009-05-08 12:34
Has anybody ever had any dealings with a company Smit and Cole??If so is it a legitimate thing??Please visit the website and let me know what you think??www.smitandcole.com
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Asked by Mary on 2009-05-04 09:58
I have cashed in quite a large portion of my unit trust (about R600 000) this year and was surprised to get a certificate from the unit trust company stating capital gain and that I may have to pay capital gains tax. Nobody told me abou this. Is this correct? Is there a way to avoid this?
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Asked by Mehul on 2009-04-16 19:23
A family of 5,all earning salaries at super tax rates have a family trust in place.can they EACH donate R100K to the trust without any donation tax and other tax implications?
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Asked by Marty on 2009-04-13 02:18
The 15% rebate if you invest in RA’s is confusing ; to illustrate my problem ,I’ll use the follwoing example:
Retirement income – R250 000
Non-Retirement invome – R100 000
Non-Retirement income(properties) – R100 000
My RA investment – R30 000 ( I see on my IT34, amount B/F from previous YR is R30 000 = Total- R60k)
Yet, my rebate was only R5 000 ?
Do they add my provident contribution as well ? ( R22K )
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Asked by Mary on 2009-04-12 18:01
I saw something on Oprah that gave me an idea about how I can sell my home quicker: a house raffle. But is this legal in SA?
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Asked by Mehul on 2009-04-10 13:59
Please compare a doctor and an ordinary sole proprietor with turnover under R1M.whats the rules for vat de-registration.pros and cons..
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Asked by Mehul on 2009-04-05 19:56
if i want to structure a salary package without retirement and medical etc so that after rebates etc im effectively taxed at 28%,how much salary should i be taking?
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Asked by TREVOR on 2009-04-05 05:14
I have a portfolio of shares some of which I would possibly like to dispose of at a loss. I am not a trader and would obviously not like to fall foul of SARS however legally can I at the same time sell some of the profitable shares and offset the loss against the profitable ones and avoid paying CGT?
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Asked by Mehul on 2009-04-02 11:58
Many wont want to answer this question because of its implicative nature but it is however relevant.what does one do with money not declared to the tax authoritiy?
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Asked by whizz on 2009-03-23 08:59
How does medical expenses work when you’re a sole trader and still making a loss? Can you deduct all your medical expenses for tax-purposes or are the deductions limited to 7.5% of your gross income (not profit)?
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Asked by Mehul on 2009-03-01 18:47
a doctor wants to buy two cars.he runs a pty ltd.he wants to buy it in the name of the incorp.for the two directors.approximately R20K in total a month.should he buy it installment sale or lease?what are tax implications if the directors use the cars?
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Asked by Mehul on 2009-02-23 16:17
if a company is paying SDL how do they claim from it?what are they allowed to claim?from who?where doer one get the forms?
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Asked by Mehul on 2009-02-23 16:15
if a person is above the age of 60 and they still working are they allowed to take out a retirement annuity?
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Asked by Mehul on 2009-02-23 16:13
Does a demo motor vehicle from a dealer constitute a second hand good and if so may i claim the input VAT?
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Asked by petropeaches on 2009-02-14 09:28
I have a property that is currently bonded to Absa Bank. It was a bad purchase to begin with and now I am stuck with it. I cannot even sell it for less than what I paid for it 3 years ago. What to do? Every month I pay levies and there is the annual rates and the rental income only covers about 50 % of the bond repayment. Can I give this property back to the Bank and cut my losses?
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Asked by petropeaches on 2009-02-11 10:39
Do I have to complete a tax return if I am exempt from paying tax due to working overseas and qualifying for tax exemption? I find all the answers about not having to pay tax, but I am not sure what one has to submit to the Receiver and do you have to tell them in writing that you are working overseas?
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Asked by petropeaches on 2009-02-11 09:24
We want to buy a second house in Knysna for R1.5 mil. We already own a house, fully paid with tenants currently occupying the property. We would also put tenants in the second property. Would this be good investment to purchase another property or rather to save the money to have some cash at hand?
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Asked by petropeaches on 2009-02-07 07:27
I took out an “Endowment Maximum Investment II” policy 10 years ago, which matured end of Jan 2009. The total amount contributed accounted to R20 000.00. On enquiring about the amount to be paid to me, I was advised that over R4 000 was allocated towards costs, therefore only R16 000.00 was invested AND I have been advised there has been NO growth on this policy. This policy was supposed to stay up with inflation and the premium was increased by 10 % annualy for this reason. So, after 10 years of faithfully paying for a policy which I thought would grow, I am in fact getting less money than I put in. Is that correct and should I just accept it?
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Asked by petropeaches on 2009-02-07 07:20
If you were retrenched in June 2008 and had no taxable income since then, do you still need to submit an annual tax return?
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Asked by petropeaches on 2009-02-07 07:19
If you are working overseas and are exempted from paying tax, do you still need to submit a tax return?
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Asked by Annie on 2009-02-05 08:15
We are married in comunity of property and have been married for 17 years. What am I entitiled to?
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Asked by hventer on 2009-02-04 14:04
Which money market gives the best return if I want to invest R50 000
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Asked by ardi on 2009-01-30 10:55
I own a business, a closed corporation. A friend wants to buy himself INTO the business. I.e. He wants his name on the CC and own 30% of the business.
1. If I sell it to him for, say R10 000, does that R10 000 go to me, or into the business?
2. Am I liable to pay some sort of Capital Gains Tax?
3. Does the money not go into my personal account and I pay tax on my own personal marginal rate?
4. If the money does go into business, does that mean that he now effectively owns 30% of the money he paid into the business?
5. If profits are low, but the business has a VERY good NAME, how do you assign a value (in Rands) to the business name?
Any help would be greatly appreciated!
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Asked by Babyblue on 2009-01-22 19:04
My income comes from interest. Is it worth taking out an RA at 59 to save tax??
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Asked by dude365 on 2009-01-13 09:41
Are the days of investing in the stock market for the long run, at an end? In the USA, if you invested in the market 10 years ago, you will now be in the negative!! Is SA going to follow the USA. I think that the only people that make money on the stock market are the day traders? …. and stock brockers.
After the USA debackle, who is going to believe any financial consultant that tells him/her to invest for the long run?
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Asked by Ashsha on 2009-01-06 10:59
Me & my husband’s working for the same company why can’t whe use the same bank account?
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Asked by Ashsha on 2009-01-06 10:57
My son was submitted to a private hospital for 7days strongly recommended by his doctor medical aid only paid for 4 days and refuse to pay the other 3 days the hospital handed me to the court of the sheriff probably blacklisted me. what must i do??
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Asked by *fff* on 2009-01-05 14:27
My family have a property house that is registered to a CC. We are thinking of starting up a trust for the house. What are the benefits and pitfalls, if there are any and what are our other options?
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Asked by Mehul on 2009-01-04 18:44
hi Liz.im curious to know what your qualifications are?what or where do you work?how are you so financially savvy?
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Asked by Anina on 2009-01-04 10:39
Which Institution will give me the best rates on a 12 month fixed Deposit? Can I get a similar rate in a Money Market account?
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Asked by dude365 on 2008-12-17 00:44
I have been living and working in the Middle East for the past 9 years. This means that I am a non SA resident and because I do not work for a SA company, I have been exempt from tax by SARS. (they have told me so).
Therefore I do not pay tax on any interest earned on fixed deposits that I have in my Standard Bank accounts… because I am a non resident.
Can you conferm that please? So even if I earn say, 2 Mil Rand per year in interest on my deposits, I do not have to pay tax on the interest?
Now what are the tax implications when it comes to buying shares via Standard Banks’s online trading?
Will I have to pay any tax on dividends or gains that I make? (as a non SA resident)… or will the same rules apply because I am a non SA resident?
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Asked by dude365 on 2008-12-16 13:59
I have 1.3Mil Rand coming lose in January 2009. As a non-resident of SA, I do not pay any tax.
Should I put it in a Fixed Dep account for 1 year or 6 months, as they expect rate cuts for the next year?
I am 46 years old and intend to work overseas for the next few years.
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Asked by Will on 2008-12-15 15:36
I recently opened a Sanlam Liquid account which got awards as the best savings option for 2008, at 11.5% interest. What are your thoughts on this? And ever since I’ve had the account I’ve found it easier to put money aside to save. I allocate a certain amount as soon as my salary is paid in and then make do for the rest of the month, as I believe I would “spend it” otherwise if I don’t. The money is accessible but watching the interest come in every month has become a motivator BIG time. Are accounts like these a good savings tool in the current economic environment? It feels very “safe”.
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Asked by Aurilia on 2008-12-10 12:54
Hi there. I want to start my own charity organization but still earn a small salary. I want to raise money doing social events etc for kids with cancer. Where do i begin?
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Asked by Tshawe on 2008-12-09 04:45
Is die koste om geld te belê van belang? Is Effekte Trust nie ‘n duur manier om te belê nie? Direkte belegging in ‘n paar goeie waarde aandele op die beurs of dmv die Satrix-produkte kan moontlik mbaie goedkoper wees.
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Asked by Stormy on 2008-12-08 13:59
The company I work for provides staff parking in the building. My car was recently broken into in the building. I reported it to security from whom there was a zero response the following day. The next day my car was broken into again in the building! Building security are absolving themselves of all responsibility due to the “own risk” disclaimer on the wall when driving in. I am contesting this as I believe their inaction on the first day certainly facilitated the second day’s break-in but have not had a satisfactory response thus far. What are my options as am now considerably out of pocket.
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Asked by dazzle on 2008-12-05 13:01
We were recently renting a house through and setate agent. I was mowing the lawn and broke one of the big windows on the sliding doors. It was frida afternoon 4:30. I managed to persuade City Glass to come urgently and replace it for me, and they said that insurance would cover it. I checked with my household contents insurance, they would not cover it. I spoke to the agent of the house, they in turn spoke to the owner, and he said he would claim through his house insurance on that property. Apparently the claim went through and the agent is struggling to get the money out of the owner. They have now told me to deal with the owner and wished me good luck. My question is: is there anything i can do to force the agent to deal with this? The window was 1,500 bucks. nothing to sneeze at.!!!
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Asked by cherylg on 2008-12-02 20:36
Salary package is R13000 ctc. Months 1-3 nett salary is R11026 and effective month 4 nett salary is R9481 with provident / pension deduction of R911. What would the employee’s gross salary be?
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Asked by michelledenton on 2008-11-25 15:23
how do i calculate a 13th cheque when there is only paye and uif that needs to be deducted?
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Asked by Mehul on 2008-11-25 08:10
A friend of mine recently went to upgarade his cellphone contract.whilst sitting with the sales assistant they noticed the company that my friends ID number was wrong.is there any recourse?
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Asked by TREVOR on 2008-11-24 09:29
I have just retired and wish to know how much time is allowed before I have to transfer my provident fund to a Living Annuity?
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Asked by dazzle on 2008-11-19 16:34
I have a business partner that is a foreigner, does anybody know what the in’s and out’s are for him to own a busniess or a share of a business here. And if one day if he decided to move here if he could work for this company with a work permit?
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Asked by cashflow101 on 2008-11-14 21:40
I want to start saving for my newborn daughter’s tertiary education, funds will be required in 17 years. I have received quotes from Old mutual , but am also considering Satrix EFT’s/investment plans. What are my options for saving towards her education? I will need about R180 000 in today’s terms (present value). Not asking for advice by any means, just a personal opinion.
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Asked by Mary on 2008-11-14 11:45
Does any one here claim back tax on donations? What supporting documents do you need to give SARS? I must admit it feels a bit akward to benefit from your own charity…
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Asked by hventer on 2008-11-11 14:53
I work offshore and want to find out how to open an offshore account for my $$
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Asked by Mehul on 2008-10-28 17:56
When economists speak off our tough foreign exchange laws that has left SA in a sounder financial position compared to other countries,what laws are they talking about and are these laws still in place?
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Asked by Daniel on 2008-10-27 20:41
I work for a non-profit company distributing Christian books and multimedia all over Africa. We have some faulty stock that we need to get rid of, but we don’t know how to go about it. Can anyone help?
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Asked by mc on 2008-10-27 19:22
Anyone able to recommend a good tax consultant ? Need to register for paying tax and have the tax calculated on income from properties?
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Asked by dazzle on 2008-10-27 14:53
Ok so i have established that i should put my deposit into a flexi-reserve/access bond facility.
I would like to buy this property in a Trust. Would this affect getting a flexi-reserve/access bond facility? Could anyone recommend the easiest way aof registering a trust? maybe online?
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Asked by dazzle on 2008-10-25 15:16
I have found a developement for 499,000. incl transfer and reg. they offer a rental assistance of 4000 per month for 1st 12 months. they say the unit can rent for 3,400 – 3,700 pm. i have 140,000 for a deposit. would it be worth my while keeping the deposit and investing it in a safe 12%, and paying into the bond at the end of the 1st 12 months (as the 1st 2 months are in a positive balc)? or putting the whole lot down initially?
Trying to make the right decision for the get go!!!
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Asked by Mehul on 2008-10-24 23:27
I am part of an investment club.we have accumulated a fair amount of money: R100K. we already have exposure to the stock market.what or where could we invest our money to get good returns currently.are there other clubs we can invest in?
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Asked by mc on 2008-10-23 17:15
When is someone exempt from paying tax working outside SA and how is the income from rental properties affected ?
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Asked by Mary on 2008-10-23 09:26
I’m thinking of cashing in my 20-year policy with Old Mutual to pay off some of my debt. It still has more than 12 years to go. Anybody else in the same position? What are you doing?
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Asked by Mehul on 2008-10-21 17:37
Any thoughts on the www.angelmoola.co.za website?i dont mind giving R20K at an 18% interest return! Would yourll take the chance lending to someone you dont know?
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Asked by nosipho on 2008-10-16 12:23
a Metropolitan life credit card that rewards with investments or savings? is it still around, anyone with info on how it worked?
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Asked by Mehul on 2008-10-12 14:45
What would you like to suggest to Minister of Finance Trevor Manuel for his upcoming budget in 2009. Hopefully he is still around then..
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Asked by Mehul on 2008-10-10 15:14
What are the responsibilities of trustees?how do they earn income being a trustee of a trust?
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Asked by Mehul on 2008-10-10 15:12
In light of the financial crisis that looms over us, will companies maintain their dividend policies?
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Asked by Shaun Jardine on 2008-10-09 19:56
What is the differance between a second hand policy and an endownment policy? When is it beneficial to purchase a second hand policy?
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Asked by nicky on 2008-10-01 09:53
What is the likely impact of the USA financial crisis on SA? Specifically, how will it affect availbility of credit (e.g. home loans)?
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Asked by Mehul on 2008-09-23 00:00
how would one go about chosing a share to buy holding a long term view?what are the fundamental characteristics to look for in a company?what are the crucial ratios one should consider?
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Asked by Mehul on 2008-09-22 23:55
can somebody recommend other websites that provide useful financial information,tips and articles?
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Asked by Mehul on 2008-09-21 02:43
how does buying a car on residual and the whole concept of balloon payments work?what are the pros and cons compared to ordinary vehicle finance?
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Asked by Talya on 2008-09-19 16:53
How do people make money through hedge funds and the future value of stocks, if no one knows what the future value of the stock will be in a week, let alone in a year or more..
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Asked by Mehul on 2008-09-19 01:01
In laymans terms what is sub prime lending that the USA is experiencing?who benefited from it?how did they benefit? Is South Africa exposed on a similar scale to the USA?
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Asked by Albert on 2008-09-12 11:48
I have an old unit trust investment in the so-called R-class. I recently added more money to it, but it ended up in the A-class, which charges higher fees. The unit trust company tells me I can’t put my money in the R-class anymore. It’s closed. Can they do this or is this just a way to charge me higher fees?
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Asked by Tito on 2008-09-10 10:20
I am 27 and have about R 500 000. its currently lying in the money market and I get about R 4800 interest a month that’s being reinvested. I know inflation gonna kill me over the long term. What is the best way do invest this money? Property, shares, satrix?
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Asked by sally on 2008-09-08 09:24
How do I go about setting up an offshore account in $ while I’m still living and working in SA?
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Asked by Mavii on 2008-09-05 11:48
I think i may have blundered, after getting my pension money, i gave my wife R200000 to invest in a fixed deposit must i pay tax again as donation
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Asked by Mehul on 2008-09-04 18:45
An individual owns various investment properties through a CC.Would it be more beneficial to move these to a trust?what are the costs and taxes involved.ie CGT. Pros and cons of doing so as well as cost of audit fees?
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Asked by Johan on 2008-09-01 10:54
How would a well-diversified unit trust fund portfolio look like? And what percentage of your total portfolio should be in unit trusts?
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Asked by liz on 2008-08-29 10:52
What is a good, affordable health insurance product for a female with a family history of breast cancer?
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Asked by Mehul on 2008-08-29 10:44
Please may i have a brief explanation about an endowment policy and its advantages and disadvantages.
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Asked by wienkas on 2008-08-28 10:58
Good morning, i would like to know if you pay tax on gifts. I know you do have a R100 000 that you can give to someone that is tax excempt, but do the receiver needs to pay tax on it?Please reply to my work email, wienkas.jooste@allangray.co.za
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Asked by sally on 2008-08-27 15:42
Is a hospital plan that covers 100% of NHRPL sufficient for hospital expenses?
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Asked by Mehul on 2008-08-26 18:20
What would be the most effecient way to make use of the annual CGT exclusion ( R15k p annum) on a yearly basis for an individual?
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Asked by sally on 2008-08-26 13:09
What are the most important differences between medical aids and medical insurance policies?
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Asked by Mehul on 2008-08-25 17:44
Whats the best ways to avoid paying high cash deposit fees (bank charges)?
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Asked by billy on 2008-08-25 15:30
I’m considering quitting my job, but want to wait until the new lower tax on pension fund cash-ins kick in. Does anybody know when this will be?
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Asked by silvertubes on 2008-08-25 09:23
Where can i find an accurate daily reference to the money market rates?
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Asked by ddacosta on 2008-08-23 09:17
What is the average 32 year old net worth and what does he earn monthly?
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Asked by hlabathi on 2008-08-21 09:52
how do I calculate the compounded growth of a share over a period of say, 3 years?
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Asked by Mehul on 2008-08-19 18:17
if we bought the Sasol Inzalo funded option shares through a black organisation, will the funding that they are giving us be tax deductible ie. finance costs. if so how? will this also apply to the Yebo Yethu offer as well?
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Asked by billy on 2008-08-15 11:06
Now that interest rates have paused, can we expect house prices to start ticking up again?
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Asked by dwinter on 2008-08-13 10:07
Which do you think is a better strategy when investing in equities via UT’s or SATRIX – 1) set up a monthly debit order and forget about it or 2) plough the same amount of money into your bond on a monthly basis and then invest the accumulated lump sum when equities are at a low. The monthly debit order strategy will be investing during high’s and low’s over an extended period, while the other strategy is trying to time the market more. Any thoughts? Thanks.
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Asked by Ed on 2008-08-12 13:08
Is the new bee offer by Vodacom worth an investment eventhough the lock in period is long
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Asked by Tito on 2008-08-11 10:07
Can anyone tell me if the Wiseman concept/calculator is a scam. You can apparently pay you bond off in 6 years without paying more on your monthly installments. There is a few websites already. It sound to good to be true.
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Asked by Jan Greeff on 2008-08-06 09:59
Why are so few people prepared to invest in the many successful long-term projects that generate residual income, yet they always complain about too little money and lack of time ?
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Asked by hemant on 2008-08-05 12:23
I would like to invest directly in Ftse & Dow shares.I have an offshore account and would like to buy these shares from this account. How do i do this and who would you recommend?
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Asked by TREVOR on 2008-08-03 17:55
what is the tax implication of a mother making a gift of R50000.00 to an adult daughter. The mother is disabled and lives with the daughter.
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Asked by Jeanne on 2008-08-02 10:42
What does it mean to add alpha to investment return – Foord uses this. Thanks. Jeanne
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Asked by Mary on 2008-07-31 11:28
Do you know of any hairdressing schools in Cape Town looking for guinea pigs for their trainers
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Asked by Mary on 2008-07-31 11:27
My mom is coming to visit me in Cape Town next month. Any ideas for low-budget ways to entertain her? She loves food and shopping, but does not drink wine. She’s also prefers more ‘civilised’ outings to outdoor sports.
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Asked by stella on 2008-07-26 15:09
I’m the bookkeeper of a small business which employs 11 people. We use a computer for some of our record keeping, but I still get nervous when I have to work on it. Especially now that SARS wants us to submit employee data via e@syFile. Do I have to submit this information electronically?
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Asked by thelastworrier on 2008-07-22 12:02
I am 65 years old and got a broker to help me with my estate planning. He recommends that I rather take out a life insurance policy to transfer wealth to my spouse after my death to avoid estate executor fees. Is this correct and would the saving be worth the commission I’m paying my broker (1.5% of all premiums)?
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Asked by billy on 2008-07-22 11:08
What kind of return can one expect when investing in buy-to-let properties?
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Asked by Robyn H on 2008-07-21 10:12
When selling your primary residence, what are the expenses you can’t deduct from your selling price?
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Asked by Robyn H on 2008-07-20 19:50
My husband and I want to sell our home in SA and buy a property overseas. The house is jointly owned by us. How can we sell it as tax-efficiently possible?
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Asked by moeggewerk on 2008-07-20 07:45
I have heard that there are new retirement annuities that are not policies. How do they work and what is the difference between them and old retirement policies?
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Asked by Robyn H on 2008-07-17 19:16
Does owning property in France or Spain make it easier for you to get residency in one of those countries?
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Asked by emma on 2008-07-16 15:49
I am interested in a property that is being privately sold as ‘voetstoots’. The place is almost 100 years old and I’m worried that i may find out afterwards of many repairs that are necessary. Is there an altenative to buying it ‘voetstoots’?
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Asked by brendata on 2008-07-03 10:28
Please compare an endownment policy, life policy and unit trust product in terms of tax, liquidity, market volatility, investment costs and inflation, as I need to make a decision regarding these portfolios.
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Asked by brendata on 2008-06-30 17:54
I amk 24 with no dependents. I earn well and I would like to begin an investment portfolio. I would like to buy a house before I turn 30. I would like to start marry and start a family when I am 30
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Asked by Daisy on 2008-06-23 11:18
Ek is gediagnoseer met ‘n baie rare siekte genaamd Arnold Chiari Malformation 1 met ander ge-assosieerde siektes wat daarmee gepaard gaan, ek kon geen dokter in Suid Afrika vind wat daarop spesialiseer nie, hierdie siekte het my alreeds my hele lewe gekos, ek het my visie, gehoor, gedeeltelik verloor, asook my reuk en die gevoel in my een been, Ek kan gehelp word met ‘n operasie maar ek verkies om dit deur ‘n Chiari Spesialis in Amerika te laat doen omdat die dokters hier nie een spesialiseer op dit nie en voel ek dat my kanse beter is met die dokter, aangesien ek nie verdere komplikasies wil hê nie, ek wil weet hoe mens te werk moet gaan om ‘n spesiale trustfonds te stig, dit gaan my ongeveer 2,5miljoen rand kos om die operasie te ondergaan daar, natuurlik het ek dit nie, maar sou graag dit deur die dokter wil laat doen, dat ek my hard verdiende lewe wat ek alles verloor het, asook my besigheid en my vermoë om weer te kan werk kan terugkry. Dankie.
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Asked by erensvuma on 2008-06-21 12:36
Im earning R250 000 a month and would like to know how much tax will i pay for the current tax year
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Asked by grandia on 2008-06-19 17:18
How do I calculate or what formula does one use to calculate the amount that must be deducted from my monthly salary for a car allowance.
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Asked by ardi on 2008-06-10 11:16
I own a CC. Which makes a fair amount of money each month. I want to invest this money in a Unit Trust. Should I, a) pay the money out as dividends, and then invest it, or b) Open a unit trust in the companies name?
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Asked by Ogies on 2008-06-06 07:57
Ek en my vrou wil ‘n eenmansaak begin. Moet ons ‘n lisensie he en registreer vir tax?
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Asked by Liesl Meyer on 2008-06-02 12:22
I am currently looking to buy property, but don’t want to spend my salary on paying back a bond. How do I go about getting bond approval and keeping the monthly payments at a fixed rate. The other question is; Is Secubond a reputable company to apply for a home loan on my behalf?
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Asked by ardi on 2008-05-28 09:51
In my business, most of the payments made are done via electronic banking. I use my personal credit card to make payments as well, and then transfer money from my CC bank account to my account. At the end of the year, the accounting will have to be done to pay the tax man. 1. Is bank statements of all involved accounts good enough, or do I need printed invoices etc? 2. How much of the PROFIT in the CC account can I withdraw and use myself? 3. I have another job, and heard I can withdraw as DIVIDENS so I dont have to pay at my marginal tax rate… is this true?
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Asked by Tony on 2008-05-20 15:04
Ek is 24 jaar oud, ek het ‘n RA by Allan Gray. Ek spaar elke maand. Ek het R150 000 wat in die Money Market le. Wat kan ek doen met die geld om ‘n beter opbrengs tekry?
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Asked by philip on 2008-05-18 09:49
does anyone know of anyone that will assit me with putting together a kick ass business plan ?
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Asked by nicky on 2008-05-16 15:02
What is the difference between a Pension preservation fund and a Provident preservation fund?
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Asked by nicky on 2008-05-16 15:01
Regarding preservation funds: How do I decide what underlying investment vehicle to choose? I am 20 years away from retirement, so do I choose equities only since they perform well over time (but in the current market situation is equities still a good choice?), or do I try to time the market by switching in and out of funds annually? What costs are involved in switching?
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Asked by billy on 2008-05-09 07:20
I’m transferring my pension fund to an RA. I have the option to phase in the investment monthly over the next 12 months or not. What are the pros and cons of choosing phasing-in?
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Asked by ian on 2008-05-01 12:14
Two weeks ago I applied for a tax clearance certificate for a foreign investment. This was rejected because SARS captured data incorrectly and has on their records that I owe them provisional tax, while I actually paid more PAYE than I should and stated so on my IRP6. What is the quickest way to rectify matters and get my money offshore? I’m worried the rand may start depreciating before I get my clearance certificate.
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Asked by Juliana on 2008-04-18 07:51
Should you have additional capital in your home loan, should one use that extra money and rather settle the debt on your vehicle?
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Asked by losmyuit on 2008-04-11 10:08
I run a small consultancy business. A financial adviser contacted me to convince me that Sanlam’s Cobalt risk protection for professionals is a better product than PPS. It seems to hinge on taxation of monthly premiums for disablity and that Sanlam covers you for disability in your own profession, and not disability in “own and alternative” professions as PPS apparently does. Has anyone studied and compared these two products?
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Asked by meksteen on 2008-04-10 10:32
Pensioners Discounts – Is there any place (website) that I can use to find details of discounts offered to pensioners in Pretoria/Centurion
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Asked by Johan on 2008-04-04 11:38
I have about R45 000 rand and want to know how I can best apply the moeny to my advantage. Is it best to pay of f debts first or add the money to a retirement investment? I have personal loan of about R20 000 and credit vcard debt of R13 000
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Asked by grandia on 2008-04-02 17:49
If I want to register as a financial planner with the FSB and provide the following services to my clients, what sub-category licenses must I hold with the FSB: estate planning, retirement planning, healthcare planning, tax planning and investment planning?
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Asked by ardi on 2008-04-02 08:55
When first starting a business (closed corporation), what must the business earn per year, before it will be taxed?
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Asked by ardi on 2008-04-02 08:52
If you just started a business, what does the business have to earn annually before you are taxed?
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Asked by Mariaan on 2008-03-22 11:30
What is safer: a bank deposit or a money market unit trust account?
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Asked by Dudu M on 2008-03-22 10:10
I’ve heard that preferential shares are safer than ordinary shares. Is this true? If so, where do I buy them?
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Asked by Dudu M on 2008-03-22 10:01
Why is gold doing so well relative to world markets? Is gold alway a good investment?
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Asked by freakonomist on 2008-03-21 08:52
I understand index tracking, but what is this new Fundamental Indexation investment style that has hit SA? What does the ‘Fundamental’ part mean?
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Asked by Krit on 2008-03-21 08:34
How safe is my money in a unit trust investment from a fraud view point?
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Asked by Krit on 2008-03-21 08:33
I read an article on the front page of the Personal Finance the other day about turning R500 into R1 million. In their examples they used 11% as an estimate of the rate at which money market unit trusts will grow in the future and 10% as the estimated rate for equity unit trusts. Surely this can’t be right. Isn’t equity much riskier than money market and shouldn’t it therefore have a higher expected return?
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Asked by Nazeem on 2008-03-21 08:27
What is the difference between a collective investment scheme and a unit trust?
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Asked by sally on 2008-03-21 08:24
I saw on your About page that you talk about putting your money in a bank account like that’s a bad thing. Isn’t that the safest place to leave your money?
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Asked by Mrs E on 2008-03-21 10:45
I’ve taken a early retrenchment package a few years ago, which is now worth almost R200 000. It’s lying in a 32-day notice bank deposit account, and with the current high interest rates I’m afraid I might have to start paying tax on it soon. What are my alternatives to avoid registering as a tax payer? I’m 60 years old and am still earning some income from private math lessons (about R50 000 per year). I only use my retrenchment money every now and then for big expenses like house renovations etc.
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Asked by billy on 2008-03-21 10:31
I’ve been living with my girl friend for the last 18 months and paying most of the household bills (She’s been without work for most of the time). I’m thinking of breaking off the relationship, but she has threatened to take me to court and sue me for maintenance. Can she do this?
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Asked by once bitten on 2008-03-21 10:27
My old car gave me hell and I’ve spent more than R20,000 on it over the last year or so. i’m busy buying a new one and want to buy a motor plan with it. What do you think is a reasonable premium for R15,000 cover?
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Asked by bride on a budget on 2008-03-21 10:17
We’re getting married in the spring – on a tight budget, but dont want to wait any longer. Any ideas where we can cut costs?
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Asked by Mrs E on 2008-03-21 10:12
I keep on hearing about investment risk and different investment products having different risk profiles. Could you explain this please?
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Asked by bouer on 2008-03-21 10:09
Wanneer ek ‘n BK met 4 lede gestig het, kan ek as die hooflid met ‘n meerderheidsbelang nog onttrekkings neem sonder om belasting te betaal daarop?
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Asked by share trader on 2008-03-21 09:59
I’ve started investing in equity unit trusts a few years ago and have made a small fortune. i’ve been thinking for a while about trading shares directly and not using a fund manager, though. Where can I learn about picking the best performing shares?
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Asked by bouer on 2008-03-21 09:52
Ek het ‘n eenmansaak wat deesdae ‘n omset van so R5m per jaar het. My wins wissel, maar sal nie sommer meer as R100,000 per jaar wees nie. Ek het 18 mense wat vir my werk. Ek dink daaraan om my besigheid in ‘n BK te verander sodat dit nie dood loop wanneer ek iets sou oorkom nie. My familie sal die ander lede van die BK word. Hulle is bekommerd oor wat met hulle kan gebeur as die BK gelikwideer word. Kan julle help asb?
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Asked by billy on 2008-03-17 10:27
I have a flat, but want to buy a bigger place. I’ve never had a problem getting home loans while I was a salaried employee, but not sure how things will be now that I’ve quit my job and start up my own business. What do banks look at?
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Asked by dontlovethetaxman on 2008-03-17 10:18
I want to rent out my second property, and ideally would like to attract as may prospective tenants who I can screen, but without having to pay away one third of the monthly rent or whatever it is most rental agencies charge. Do you know of any online prperty sites with a large user base?
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Asked by dontlovethetaxman on 2008-03-17 10:06
I’ve heard there’s a tax loophole where you can form a company to buy a property and avoid paying the transfer duty. how does this work?
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Asked by shaheed on 2008-03-17 09:28
After finding out the % commission estate agents charge, I’m now thinking of selling my flat myself? Do I really need an estate agent?
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Asked by mover on 2008-03-17 09:23
Does anybody know how long I can wait before I sell my old place after buying a new one, and not pay capital gains tax?
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Asked by kass on 2008-03-16 11:27
I’ve just started my first proper job. The company has a pension fund with something called member choice. They had a whole presentation where they explained the different options, but I’m still confused. I’m scared of losing my money (it’s quite a lot I ahve to pay to this fund every month). Where can I get more help?
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Asked by billy on 2008-03-16 11:15
My benefits consultant told me I can choose between a pension preservation fund and a retirment annuity to transfer my pension now that i’m leaving. What is the difference?
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Asked by dontlovethetaxman on 2008-03-16 10:52
How ’bout my colleague? He’s got no plans to resign, but has more than R100 000 in leave built up and can’t decide whether he should take it or just leave it.
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Asked by dontlovethetaxman on 2008-03-15 14:58
I resigned and will get a substantial amount of leave back from my company. How can I avoid paying the 40% tax on it?
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Asked by helmut on 2008-03-11 17:18
By how much does my income need to increase yearly to make real progress in terms of buying power ?
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Asked by PWM on 2008-03-10 16:49
What is the real cost of day to day medical and dental expences ? In other words,how much money must I have available in my medical aid savings account?
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Asked by rian on 2008-03-10 07:11
Is there any place where I can see the cost of unit trust funds and exchange traded funds compared?
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Asked by dont know on 2008-03-10 07:02
If i buy retirement anuities… what happens if i leave the country? Can the money be sent to me anywhere in the world when i am sixty?
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Asked by dont know on 2008-03-10 07:01
apparantly it makes sense from a tax savings point of view to buy retirment anuities. Is that true?
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Asked by whizz on 2008-03-08 11:07
Is there anybody who understand SARS’s ring-fencing of losses? I have two businesses – both sole traders. The one is a consulting business running at a profit. The other one is a start-up advertising business running at a loss. Can I off-set the loss against the consulting business’s profit? Or do I have to ring-fence it?
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Asked by curious on 2008-03-07 10:43
I got divorced in 2002. It was not a good divorce and I’m struggling financially and my ex sometimes ‘forget’ to pay my maintenance into my bank account. I’ve heard somewhere that I might be entitled to part of my ex-husband’s pension money. Is this true? We were married in community of property.
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Asked by sewie? on 2008-03-07 10:38
My ma werk as ‘n skoonmaker by iemand se huis. Sy het nie ‘n kontrak met die vrou nie. Einde van die maand gaan sy vir ‘n operasie. Hoe lank mag sy afvat en kan sy vra om betaal te word?
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Asked by sally on 2008-03-07 10:31
What is the difference between an income protection policy (like the one you can deduct from your income on your tax form) and PPS disability cover?
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Asked by queen Anne on 2008-03-07 09:52
We gave our domestic worker R40000 when she retired just over a year ago. This sits in a Capitec bank account in her name and which she could access easily. Last week she passed away. She was looking after her grandson who is now 16 and in grade 9. She had no will that we know of. What will happen to the money in her bank account? Her husband is long dead. We know that she would like the grandson to be taken care of with her retirement money. Does the grandson have a legal right to this? What can we do to help?
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Asked by Albert on 2008-03-07 09:33
My domestic has a bright child who is 14 and in grade 8. She is college or university material. My domestic wants me to deduct R100 a month from her wages to save for the child’s education. I don’t know of any unit trusts that accept such a small monthly d/o. What are my alternatives?
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Asked by moeggesukkel on 2008-03-07 08:36
Is daar enige iemand hier wat al geld belê het by Realcor? Hulle bied 20% per jaar en gebruik mens se geld om shopping malls te ontwikkel. Wat is hulle reputasie?
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Asked by sally on 2008-03-05 08:38
Where is the best place to find out about the reputation of a financial business?
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Asked by edgarspice on 2008-03-04 16:25
I’m 60 years old and will retire at the end of this month. I know enough about investments to buy a living annuity and manage my own portfolio. I’m just not that sure what % I should withdraw every year. Any ideas? I’d rather be safe and work on the assumption that I might live to a 100.
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Asked by applebees on 2008-03-04 13:24
I wonder if you can give me some guidance. I’m retiring end of this year after 36 years with the same company and the company pension fund has given me the option to either take out a pension with an insurance company or buy something I’ve never heard of before: a living annuity. What is the main difference between the two?
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Asked by pietervdm on 2008-03-03 19:48
I got a job with one of the big four banks in SA and they are giving me the option to sacrifice part of my salary in return for a 13th cheque at the end of the year. Should I take it?
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Asked by need.info on 2008-03-03 15:43
I’m freelancing as an independent contractor, but through a labour broker. Am I entitled to paid leave? How many days per year?
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Asked by how.bout on 2008-03-03 14:41
I’ve quit my job to go work in London. Can I claim unemployment from the government while I’m still in SA?
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Asked by Cricket on 2008-03-03 13:33
I’ve just resigned from Telkom to study full-time. What should I do with my Telkom provident fund savings?
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Asked by G.George on 2008-03-03 13:24
I’ve just started a new job and have the option to structure my salary package around a fixed cost-to-company amount (whatever that means). How can I do everything as tax-efficient as possible?
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Asked by JosieKL on 2008-03-03 11:08
I’m 55 years old and have made no provision for retirement, as I’ve always thought I’d die young. Now I seem to be going strong and start thinking that I might need some kind of retirement product. Is there something out there for me? (I’m self-employed).
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Asked by mike.wolfs on 2008-03-03 09:04
I’m self-employed, turning 40, and don’t have any form of pension. What type of retirement product should I get? An RA, endowment policy or unit trust?
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Asked by Bernadette on 2008-03-03 09:03
I’ve just become a mom and for the first time I’m thinking of planning for the future. Do you have any idea how much I should start saving per month if I want my baby to go to university?
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Asked by wonderingabout on 2008-03-03 08:26
Are there any tax breaks for being married – especially to a high-maintenance woman?
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Asked by hendrik2 on 2008-03-02 19:22
I’m a physiotherapist with my own practice and also earn an income from giving boot camp lessons. I earn about R250 000 pa from the physio bit and R40 000 pa from the boot camp. At the moment I work only 8 months a year to avoid registering for VAT, but it’s becoming difficult to stay below R300 000 turnover per year. Is there a way I can work more and earn more without having to register for VAT?
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Asked by brightidea on 2008-03-02 12:18
A friend of mine wants me to partner him and buy a garden services business. The profits of the business look fantastic, but I’m worried about going into it with my friend, as he’s always been a bit of a big spender. What would be the best business structure for my situation? Currently the business is in the owner’s name.
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Asked by makilele.mbongus on 2008-02-28 12:08
I am a 41-year old female getting married for the second time. In my first marriage, I was married inside community of property. I now have my own house and ample investments. I’m considering the new antenuptial contract with accrual, but want to find out more about it. What are the pitfalls?
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Asked by sarah on 2008-02-26 11:44
I’m about to get married and the financial planner of my wife-to-be is telling me I need to take out life cover for her of R2m. I want her to be financially OK if I die, but isn’t R2m a bit excessive?
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Asked by hendrik2 on 2008-02-25 10:33
I’m close to settling my home loan debt. What is better: to keep the loan open or to settle all my remaining debt?
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Asked by clive on 2008-02-22 10:20
I’m in the process of buying a house and a broker that’s associated with my bank phoned me the other day to sell me life insurance in case I die and can’t repay my loan. Do I have to buy this?
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Asked by hendrik2 on 2008-02-21 10:01
I work for a South African bank and can get my home loan at something which is called the FBT rate. How does this work and is it better than a normal home loan rate?
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Asked by hendrik2 on 2008-02-21 09:30
I’ve just bought my first house and was shocked by the fees quoted by the transferring attorneys (R66k on a R1.2m place), for what surely must be a pretty routine procedure. Is there a way to negotiate lower fees?
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