Tax | Wealth Preservation Strategies

Death and (Capital Gains) Taxes: Don’t Get Caught Out

by Wealth Preservation Strategies | Estate Planning, Tax

Capital Gains Tax (CGT) is not a flashy, Ferrari-driving, Gucci-wearing kind of tax. Instead, it quietly goes about its business in the background, day in and day out. This doesn’t make it any less consequential.
Many estates that appear financially secure can come under unexpected pressure from Capital Gains Tax at death. The good news is that there are several relief mechanisms within the tax system that, with careful planning, can meaningfully reduce this impact.

Your Year-End Tax Checklist: Smart Moves Before 28 February

by Wealth Preservation Strategies | Retirement Planning, Saving & Investing, Tax

"The avoidance of taxes is the only intellectual pursuit that still carries any reward. (John Maynard Keynes) 1. Boost your retirement savings Contributing to a Retirement Annuity (RA) before 28 February can reduce your taxable income and grow your long-term wealth....

Should You Have a Second Will for Your Overseas Assets?

by Wealth Preservation Strategies | Last Will, Tax

“Only put off until tomorrow what you are willing to die having left undone.” (Pablo Picasso) If you own assets outside South Africa, you may have wondered: Is my local will enough? This is a question many South Africans are asking, and the answer will depend on your...

8 Things You May Not Know About Capital Gains Tax

by Wealth Preservation Strategies | Tax

“I'll tax the street, I'll tax your seat, I'll tax the heat, I'll tax your feet.” (Adapted from Taxman by The Beatles) 1. Why do I have to pay CGT in the first place? Following a worldwide trend, South African authorities introduced CGT in 2001 to broaden the tax...

Tax Tip: Get Your Top-Ups in Now

by Wealth Preservation Strategies | Tax

RAs: The big one Retirement Annuities (RAs) offer significant tax breaks as contributions to the investments are tax-deductible, and the growth within the funds is tax-free. You can contribute a maximum of 27.5% of your taxable income to retirement funding each...

It’s tax filing season: Watch out for scams!!!

by Wealth Preservation Strategies | Tax

SARS has warned taxpayers of a disturbing rise in fraud attempts and breaches of eFiling profiles. These breaches can lead to identity theft, financial loss, and a lengthy process of restoring your good standing with the authorities.Cyber threats have evolved from...

Happy New Tax Year!

by Wealth Preservation Strategies | Tax

Happy new tax year to you. May it be a frugal, sensible and thoughtful tax year for you and your families. You may be thinking that the end of the last tax year was really hectic as you rushed to top up payments on various tax-free investments and retirement annuity...

Sars has its eye on South Africans working abroad

by Wealth Preservation Strategies | Offshore, Tax

The 2022 tax season is around the corner, and it will be one of the shortest to date. The period to submit tax returns will be open from 1 July to 24 October for individual taxpayers who are not provisional taxpayers. On 3 June, Edward Kieswetter, the Commissioner of...

It’s a new dawn, it’s a new day.

by Wealth Preservation Strategies | Investments, Retirement Annuities, Tax, Tax Free Investments, Uncategorized

IT’S A NEW DAWN IT’S A NEW DAY Birds flying high, you know how I feel Sun in the sky, you know how I feel Breeze driftin' on by, you know how I feel It's a new dawn It's a new dayIt's a new life for me, yeah It's a new dawn It's a new day It's a new life for me, ooh...

Death and (Capital Gains) Taxes: Don’t Get Caught Out

Your Year-End Tax Checklist: Smart Moves Before 28 February

Should You Have a Second Will for Your Overseas Assets?

8 Things You May Not Know About Capital Gains Tax

Tax Tip: Get Your Top-Ups in Now

It’s tax filing season: Watch out for scams!!!

Happy New Tax Year!

Sars has its eye on South Africans working abroad

It’s a new dawn, it’s a new day.

Should you file a tax return for the 2020 tax year?

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