Grant Buser & Associates

13/09/2019

The South African economy grew by an encouraging 3.1% in the second quarter of 2019, despite coming off an especially low base given the sharp decline in GDP growth shown during the first quarter of the year.

11/07/2019

What is Captial Gains Tax (CGT)?


Capital gains tax (CGT) is not a separate tax but forms part of income tax. A capital gain arises when you dispose of an asset for proceeds that exceed its base cost.

Capital gains are taxed at a lower effective tax rate than ordinary income. Not all assets attract CGT and certain capital gains and losses are disregarded.

Who is it for?

CGT applies to individuals, trusts and companies.

A resident, as defined in the Income Tax Act 58 of 1962, is liable for CGT on assets located both in and outside South Africa.

A non-resident is liable to CGT only on immovable property in South Africa or assets of a “permanent establishment” (branch) in South Africa.

Some persons such as retirement funds are fully exempt from CGT.

If you have any questioins w.r.t. CGT please don't hesitate to contact me.

28/06/2019

28/06/2019

South Africa’s economy remains stuck in its longest downward cycle since 1945, adding to the risk that it may fall into its second recession in a year.

28/06/2019

Cutting costs by attempting to draft your will yourself is unwise

30/05/2019

To avoid unnecessary stress, I suggest getting an early start on your tax return by ensuring your supporting documentation is ready, please see the list below:

• Your IRP5/IT3(a) certificate(s) which you will receive from your employer
• Medical certificates as well as documents required for amounts claimed in addition to those covered by your medical aid.
• Pension and retirement annuity certificates
• Your banking details
• Travel logbook (if you receive a travel allowance)
• Tax certificates that you received in respect of investment income (IT3(b))
• Completed confirmation of diagnosis of disability (ITR-DD), where applicable
• Information relating to capital gain transactions, if applicable
• The approved Voluntary Disclosure Programme (VDP) Agreement between yourself and SARS for years prior to 17 February 2010, where applicable
• Financial statements, e.g. business income, where applicable
• Any other documentation relating to income you received or deductions you want to claim.

For any other information, refer to the SARS website https://www.sars.gov.za/TaxTypes/PIT/Tax-Season/Pages/default.aspx

17/04/2019

Throughout the generations we have different outlooks on music, fashion, work ethic and also the way we manage finances, but with regards to investing, certain investment principles remain important:
1. The earlier you start; the more compound interest counts in your favour.
2. Having a save first and then consume mindset will ensure a greater nest egg at the end.
3. Have a long-term plan and execute accordingly. Chasing short-term results is an enemy to the success of your plan.
If you’d like to see the full newsletter I sent to my clients, please send me a message and I’ll forward the mail to you.

21/02/2019

I've attached a picture summary of the National Budget Speech for 2019/20. I have a more detailed summary of the speech, please let me know if you'd like me to send it to you.
https://ewn.co.za/2019/02/20/infographic-budget2019-what-can-grant-beneficiaries-expect

31/01/2019

I think we can all say we forgo some of our New Year's resolutions when February comes around. One resolution which we can't wave goodbye is our financial goals. Consistency with your financial fitness is key to making your financial goals a reality.

04/12/2018

This time of the year we enjoy splurging on our kids and/or grandkids, especially when you are lucky enough to receive a bonus, but I want to urge you to consider how the festive season will look when you are retired.