Carrie Norden
Articles by Carrie Norden
2024 Budget speech update
While South Africans battle with a cost-of-living crisis, rising unemployment and sluggish economic growth, Finance Minister Enoch Godongwana is faced with t...
Unpacking the changes to the retirement fund lump sum tax tables
To account for the impact of inflation, this year’s National Budget introduced changes to the retirement fund lump sum tax tables for retirement fund cash lu...
2023 Budget speech update
The 2023 Budget speech was delivered against the backdrop of high living costs, a dismal unemployment rate and intensive loadshedding crippling businesses, a...
How SARS has changed tax for annuitants
The South African Revenue Service recently changed the way tax is calculated for living annuitants. Carrie Norden discusses the rationale behind this change...
2022 Budget speech update
Finance Minister Enoch Godongwana delivered his maiden Budget speech on Wednesday, 23 February. He noted that although the easing of COVID-19-related...
2021 Budget speech update
Finance Minister Tito Mboweni delivered the Budget speech on Wednesday, 24 February. Against the backdrop of the COVID-19 pandemic, the Budget was more...
Should I file a tax return for the 2020 tax year?
In response to COVID-19, the South African Revenue Service (SARS) has tried to simplify the tax filing process for individual taxpayers and remove the need t...
Making the most of personal tax incentives
After spending decades nurturing their careers, most people hope to enjoy the fruits of their labour in the form of a sustainable income in retirement. Makin...
Facing the facts around retrenchment
With the latest GDP growth figures showing that the economy contracted 0.6% in the third quarter, SAA heading into business rescue, and the problems at Eskom...
Is there any tax benefit in saving over the annual tax deductible amount towards retirement?
One of the key benefits of investing for retirement using a retirement fund is the generous tax deduction for contributions, subject to a maximum of 27.5% of...
Why retirement contributions don’t reduce your taxable capital gains
You may be aware that every tax year you can make a pre-tax contribution to your retirement fund of up to 27.5% of the higher of taxable income or...
Don't get caught short this tax season
With the tax season deadlines brought forward by a month this year, it’s time to get your supporting documents ready and to do your return. Uncertainty actin...
2018 Budget speech update
The Minister of Finance announced amendments to tax and other legislation that may affect investors. These changes come into effect on 1 March 2018...
Retiring or withdrawing? Think carefully before sending us the form
After a lifetime of work retirement is often a welcome change of pace, but many people rush into a decision to retire or withdraw from their retirement fund....
What are the tax benefits of contributing to a retirement annuity?
The South African Revenue Service (SARS) wants to help you pay for your retirement. The way in which they do this is by offering generous tax deductions when...
Read the fine print before you decide to withdraw or retire from your preservation fund
South Africans on average change jobs about five to seven times during their working lives. More than two-thirds do not preserve their retirement savings whe...
