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Insights categories - Personal investing

2024 Budget speech update

By Carrie Norden on 21 Feb 2024

Reading time: 7 mins

While South Africans battle with a cost-of-living crisis, rising unemployment and sluggish economic growth, Finance Minister Enoch Godongwana is faced with t...

Insights categories - Personal investing

2024 Budget: Walking a tightrope

By Carla Rossouw on 21 Feb 2024

Reading time: 7 mins

The stage was set for a much-anticipated 2024 Budget speech during an election year. 

Insights categories - Personal investing

Tap into tax benefits this February

By Carla Rossouw on 01 Feb 2024

Reading time: 15 mins

The end of the tax year in February presents an opportunity to evaluate the tax efficiency of your financial plan. With many competing financial priorities i...

Insights categories - Retirement

Offshore toolkit part 2: Unpacking South African tax obligations for non-resident living annuitants

By Ebrahim Southgate on 20 Oct 2023

Reading time: 7 mins

South African legislation specifically prohibits the transfer of living annuities to other financial service providers abroad. Therefore, South Africans who...

Insights categories - Personal investing

Offshore toolkit part 1: Understanding your tax obligations on leaving South Africa

By Carla Rossouw on 20 Oct 2023

Reading time: 10 mins

In part 1 of our Offshore toolkit series, Carla Rossouw, head of Tax, untangles the tax complexities you may encounter when you end your tax residency and...

Insights categories - Personal investing

Are you ready for the 2023 tax-filing season?

By Meagan Fraser on 06 Jul 2023

Reading time: 11 mins

It is important for taxpayers to understand their filing obligations so that they can ensure compliance. Meagan Fraser covers the key dates to be aware of fo...

Insights categories - Personal investing

Unpacking the changes to the retirement fund lump sum tax tables

By Carrie Norden on 11 Apr 2023

Reading time: 12 mins

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...

Insights categories - Personal investing

2023 Budget speech update

By Carrie Norden on 22 Feb 2023

Reading time: 11 mins

The 2023 Budget speech was delivered against the backdrop of high living costs, a dismal unemployment rate and intensive loadshedding crippling businesses, a...

Insights categories - Personal investing

2023 Budget: A taxing balance

By Carla Rossouw on 22 Feb 2023

Reading time: 5 mins

The 2023 Budget speech was delivered against the backdrop of high living costs, a dismal unemployment rate and intensive loadshedding crippling businesses, a...

Insights categories - Markets and economy

The 2023 Budget: A crisis of credibility in the outer years of the forecast

By Thalia Petousis on 13 Feb 2023

Reading time: 5 mins

Thalia Petousis, portfolio manager at Allan Gray, shares her views on the challenges of putting together a credible national budget

Insights categories - Personal investing

Tax tips as we head into the 2023 tax season

By Carla Rossouw on 31 Jan 2023

Reading time: 11 mins

The end of February sees the tax year draw to a close – an opportune time to ensure that your tax affairs, and tax details, are up to date, and to consider...

Insights categories - Personal investing

Are you making the most of your tax-free investment account?

By Tamryn Lamb and Twanji Kalula on 23 Jan 2023

Reading time: 13 mins

Tamryn Lamb and Twanji Kalula unpack the pros and cons of using tax-free investment accounts over the long term and explain how they can be used to complemen...

Insights categories - Retirement

Podcast: Are better outcomes for retirement savers on the horizon?

By Mica Townsend on 26 Oct 2022

Listening time: 36 mins

Allan Gray’s head of Assurance, Richard Carter, joins Umbrella Fund specialist Mica Townsend to discuss the challenges with the current system, the...

Insights categories - Personal investing

Are you ready for the 2022 modernised tax-filing season?

By Liezl Alberts on 07 Jul 2022

Reading time: 11 mins

As SARS rolls out changes to simplify and shorten tax-filing season, tax specialist Liezl Alberts reviews what has changed this year and outlines who must fi...

Insights categories - Personal investing

How SARS has changed tax for annuitants

By Carrie Norden on 26 Apr 2022

Reading time: 11 mins

The South African Revenue Service recently changed the way tax is calculated for living annuitants. Carrie Norden discusses the rationale behind this change...

Insights categories - Personal investing

Making sense of changing tax laws

By Komil Gordhan on 10 Mar 2022

Viewing time: 1 min

1 March marked the beginning of the 2022/2023 tax year and ushered in new tax laws pertaining to, among others, retirement fund products and fixed tax rates...

Insights categories - Markets and economy

The long road to debt reform: SA’s Budget underwhelms bond investors

By Thalia Petousis on 24 Feb 2022

Reading time: 3 mins

Despite the positivity priced into the Budget from the much-publicised tax revenue overruns, the outcome has positively underwhelmed South African bond...

Insights categories - Personal investing

2022 Budget speech update

By Carrie Norden on 23 Feb 2022

Reading time: 10 mins

Finance Minister Enoch Godongwana delivered his maiden Budget speech on Wednesday, 23 February. He noted that although the easing of COVID-19-related...

Insights categories - Personal investing

A responsible Budget signalling optimism

By Carla Rossouw on 23 Feb 2022

Reading time: 4 mins

The high cost of living, fuelled by rising inflation, significant fuel price increases and a series of interest rate hikes (which are likely set to continue)...

Insights categories - Markets and economy

‘Hopeful Budget’ may strike right notes, but tax clarity and economic reforms are needed

By Thalia Petousis on 17 Feb 2022

Reading time: 5 mins

This year’s Budget speech, set to be delivered on 23 February by Finance Minister Enoch Godongwana, is likely to strike an optimistic chord thanks to a numbe...

Insights categories - Personal investing

How to maximise tax benefits before the end of February

By Carla Rossouw on 15 Feb 2022

Reading time: 7 mins

In the spirit of tax season, Carla Rossouw, tax lead at Allan Gray, discusses how investors can make their money work harder using tax breaks. This is always...

Insights categories - Personal investing

Do I need to file an income tax return for the 2021 tax year?

By Liezl Alberts on 01 Jul 2021

Reading time: 9 mins

The South African Revenue Service (SARS) continues to focus on introducing online and digital services, simplifying the tax-filing process, and making it...

Insights categories - Personal investing

2021 Budget speech update

By Carrie Norden on 25 Feb 2021

Reading time: 7 mins

Finance Minister Tito Mboweni delivered the Budget speech on Wednesday, 24 February. Against the backdrop of the COVID-19 pandemic, the Budget was more...

Insights categories - Personal investing

2021 Budget signals hope for SA taxpayers

By Carla Rossouw and Sandy McGregor on 24 Feb 2021

Reading time: 3 mins

Minimal tax measures aim to bring relief to taxpayers and bolster economy.

Insights categories - Personal investing

What can we expect from the 2021 Budget?

By Carla Rossouw on 18 Feb 2021

Reading time: 5 mins

It is that time of the year again, we are holding our breath to see what the 2021 Budget speech will deliver against a backdrop of the devastating loss,...

Insights categories - Personal investing

Investing with tax benefits in mind during uncertain times

By Carla Rossouw on 15 Feb 2021

Reading time: 4 mins

Amid the extreme uncertainty brought on by COVID-19 and the ongoing lockdown restrictions, investors are tasked with looking beyond the current crisis and...

Insights categories - Personal investing

Understand your total tax liability if you have multiple sources of income

By Carla Rossouw on 15 Jan 2021

Reading time: 7 mins

If you have multiple sources of income, you must ensure that the correct tax rate is being applied by your employer and/or annuity provider – or you could be...

Insights categories - Personal investing

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

By Carrie Norden on 31 Jul 2020

Reading time: 9 mins

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...

Insights categories - Personal investing

Part 5: Why every investor needs an independent adviser right now

By Cedrick Pila on 09 Jun 2020

Reading time: 6 mins

Investors are panicked and who can blame them? The market volatility has persuaded some to run for the hills and never look back, while others may be tempted...

Insights categories - Personal investing

New tax laws for expats

By Carla Rossouw on 03 Mar 2020

Reading time: 10 mins

The laws around tax for South Africans who live and work abroad have changed and it’s important to work out whether or not you are now expected to pay tax on...

Insights categories - Personal investing

2020 Budget speech update

By Carla Rossouw on 27 Feb 2020

Reading time: 8 mins

Finance Minister Tito Mboweni delivered the Budget speech on Wednesday, 26 February. In this document we highlight some of the 2020 Budget tax proposals that...

Insights categories - Personal investing

2020 Budget: Stuck between a rock and a hard place

By Carla Rossouw on 25 Feb 2020

Reading time: 4 mins

A revenue shortfall of R50bn was announced in the Medium-Term Budget Policy Statement (MTBPS) in October 2019, and this sets the scene for the 2020 Budget....

Insights categories - Markets and economy

2020 Budget: Managing the wage bill and fixing Eskom's credibility

By Sandy McGregor on 21 Feb 2020

Reading time: 2 mins

The National Treasury faces formidable challenges in preparing the Budget for the 2020/21 fiscal year, which will be presented on 26 February. Projections...

Insights categories - Personal investing

Making the most of personal tax incentives

By Carrie Norden on 12 Feb 2020

Reading time: 9 mins

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...

Insights categories - Personal investing

Make the most of your tax benefits

By Carla Rossouw on 29 Jan 2020

Reading time: 2 mins

The South African Revenue Service (SARS) has put several tax incentives in place to encourage us to save more for our retirement and other long-term goals. Y...

Insights categories - Personal investing

Facing the facts around retrenchment

By Carrie Norden on 11 Dec 2019

Reading time: 10 mins

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...

Insights categories - Personal investing

To file or not to file a tax return

By Carla Rossouw on 16 Oct 2019

Reading time: 6 mins

The South African Revenue Service’s (SARS’) 2019 tax season for non-provisional individual taxpayers officially started on 1 August 2019, with those filing v...

Insights categories - Personal investing

Unravelling your residencies – exchange control, tax and citizenship

By Sunèl Delport and Mlulami Nxele on 10 May 2019

Reading time: 15 mins

South Africans who live and work abroad are not currently subject to income tax on the income they earn outside of South Africa, provided they spend more tha...

Insights categories - Personal investing

2019 Budget speech update

By Carla Rossouw on 20 Feb 2019

Reading time: 8 mins

Finance Minister Tito Mboweni delivered his maiden budget speech on Wednesday 20 February. In this document we highlight some of the 2019 Budget tax proposal...

Insights categories - Personal investing

Budget 2019: Focus shifts to restoring credibility

By Carla Rossouw on 20 Feb 2019

Reading time: 4 mins

Finance Minister Tito Mboweni’s maiden Budget Speech didn’t deliver any major punches such as 2018’s surprise 1% VAT hike, but instead sought to acknowledge...

Insights categories - Personal investing

Is there any tax benefit in saving over the annual tax deductible amount towards retirement?

By Carrie Norden on 05 Feb 2019

Reading time: 9 mins

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...

Insights categories - Personal investing

Why retirement contributions don’t reduce your taxable capital gains

By Carrie Norden on 26 Oct 2018

Reading time: 4 mins

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...

Insights categories - Personal investing

Don't get caught short this tax season

By Carrie Norden on 31 Aug 2018

Reading time: 4 mins

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...

Insights categories - Personal investing

Bump up your savings with a tax-free investment

By Mthobisi Mthimkhulu on 30 Jun 2018

Reading time: 7 mins

Have you taken the plunge and started your own business, but sacrificed some (if not all) of your savings to do it? Mthobisi Mthimkhulu suggests using a...

Insights categories - Personal investing

Cashing in on your tax refund

By Bekithemba Mafulela on 29 Mar 2018

Reading time: 3 mins

Between April 2017 and February 2018, the South African Revenue Service (SARS) paid out more than R205 billion to taxpayers. If you are lucky enough to have...

Insights categories - Personal investing

VAT increase unavoidable

By Carla Rossouw on 02 Mar 2018

Reading time: 4 mins

The Budget Speech delivered by Finance Minister Malusi Gigaba was a careful step in the right direction in an environment where hard decisions are...

Insights categories - Personal investing

2018 Budget speech update

By Carrie Norden on 21 Feb 2018

Reading time: 4 mins

The Minister of Finance announced amendments to tax and other legislation that may affect investors. These changes come into effect on 1 March 2018...

Insights categories - Retirement

Top up your umbrella fund now to maximise your annual tax benefits

By Saleem Sonday on 16 Feb 2018

Reading time: 2 mins

With the end of the tax year fast approaching, investors who are saving for retirement through their employer’s umbrella fund have until 28 February...

Insights categories - Markets and economy

Fixing the South African economy

By Sandy McGregor on 24 Jan 2018

Reading time: 10 mins

If we can make necessary changes domestically, favourable global business conditions will support a rapid economic turnaround. Now that the ANC conference is...

Insights categories - Personal investing

How to maximise tax benefits before the end of the tax year

By Carla Rossouw on 24 Jan 2018

Reading time: 10 mins

The end of February is the end of the tax year. Carla Rossouw explains why this is a good time to take maximum advantage of the incentives the government has...

Insights categories - Offshore investing

What taxes do I pay when I invest offshore?

By Carla Rossouw on 17 Nov 2017

Reading time: 6 mins

Investing offshore allows you to diversify and benefit from a broader universe of investment ideas, but what about the tax you may have to pay?As with any...

Insights categories - Personal investing

PART 5: What should I invest in?

By Mthobisi Mthimkhulu on 17 Oct 2017

Reading time: 6 mins

Tax and law are wrapped around every investment product. Knowing the rules can help you choose the right product for your needs...

Insights categories - Personal investing

Tax season: Your top tax investment questions answered

By Carla Rossouw on 06 Oct 2017

Reading time: 4 mins

Confused about how to report on your investments to SARS? With the 2017 tax season in full swing, now is the time to get your documents ready.

Insights categories - Retirement

Retiring or withdrawing? Think carefully before sending us the form

By Carrie Norden on 05 Sep 2017

Reading time: 5 mins

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....

Insights categories - Personal investing

Investment Summit to give an inside view from fund management houses

By Jeanette Marais on 21 Jul 2017

Reading time: 3 mins

Allan Gray is bringing a group of international and local investment houses together to debate investment insights in a new one-day event, aimed at helping...

Insights categories - Markets and economy

The economics of taxation

By Sandy McGregor on 20 Jul 2017

Reading time: 11 mins

An efficient tax system is a necessary feature of a modern state. Taxes have always been a focus of political concern, even when, by modern standards...

Insights categories - Personal investing

How to combat the budget pinch

By Carla Rossouw on 31 Mar 2017

Reading time: 7 mins

Some weeks have passed since former Finance Minister Pravin Gordhan’s Budget speech, but we are only just beginning to feel the pinch. Carla Rossouw discusse...

Insights categories - Personal investing

2017 Budget speech update

By Carla Rossouw on 23 Feb 2017

Reading time: 4 mins

The Minister of Finance announced amendments to tax and other legislation that may affect investors. These changes are discussed in detail below and, unless...

Insights categories - Personal investing

How does the Budget impact me?

By Richard Carter on 23 Feb 2017

Listening time: 9 mins

The 2017 Budget had some surprises, especially for the wealthy, with steep increases in income tax and dividend withholding tax. But we need to look beyond t...

Insights categories - Personal investing

Read beyond the Budget headlines: Bracket creep hits low to middle income earners

By Richard Carter on 23 Feb 2017

Reading time: 3 mins

The 2017 Budget had some surprises, especially for the wealthy, with steep increases in income tax and dividend withholding tax. But the silent tax increase ...

Insights categories - Retirement

What are the tax benefits of contributing to a retirement annuity?

By Carrie Norden on 08 Feb 2017

Reading time: 6 mins

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...

Insights categories - Personal investing

How to maximise tax benefits before the end of the tax year 2016

By Carla Rossouw on 31 Dec 2016

Reading time: 8 mins

Every year at around this time – ahead of the end of the tax year in February – we remind investors to think about taking advantage of some of the incentives...

Insights categories - Personal investing

Read the fine print before you decide to withdraw or retire from your preservation fund

By Carla Rossouw and Carrie Norden on 30 Sep 2016

Reading time: 6 mins

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...

Insights categories - Personal investing

How to make sense of tax in unit trusts

By Richard Carter on 29 Aug 2016

Reading time: 1 min

The tax you pay can have big impact on your return over time. While you cannot make investment decisions based on tax alone, it is also a factor that cannot ...

Insights categories - Personal investing

Invest for your child’s future today with a tax-free investment account

By Richard Carter on 19 Aug 2016

Viewing time: 1 min

For most parents looking to make a long-term investment on behalf of their minor children, a tax-free investment account is an option worth investigating....

Insights categories - Personal investing

How can I earn higher returns and pay less tax?

By Richard Carter and Jeanette Marais on 30 Jun 2016

Reading time: 10 mins

Tax has a significant impact on the returns of your investment. If, like most of us, you would like to see more return in your account and less in the hands ...

Insights categories - Personal investing

2016 Budget speech update

By Carla Rossouw on 26 Feb 2016

Reading time: 6 mins

The Minister of Finance announced amendments to tax and other legislation that may affect investors.

Insights categories - Retirement

What you need to know about the retirement fund changes

By Richard Carter on 25 Feb 2016

Reading time: 4 mins

National Treasury is making changes to retirement legislation to encourage investors to save more for their retirement and to improve the alignment between t...

Insights categories - Retirement

Welcome amendments to retirement reform

By Richard Carter on 03 Feb 2016

Reading time: 3 mins

The retirement reform amendments contained in the Taxation Laws Amendment Bill, which will come into effect on 1 March 2016, are a positive step by Treasury ...

Insights categories - Retirement

More for the future you, less for the tax man

By Carla Rossouw on 14 Jan 2016

Reading time: 4 mins

The tides are changing in the retirement savings space, with National Treasury encouraging us to save more for retirement by significantly increasing the tax...

Insights categories - Personal investing

Your minor children and the taxman

By Carla Rossouw on 06 Nov 2015

Reading time: 5 mins

Investing on behalf of your children is a generous act of foresight and, if you can afford to do it, opens up future opportunities for them. Unit trusts are ...

Insights categories - Retirement

Convert part of your tax bill into retirement savings

By Carla Rossouw on 18 Feb 2015

Reading time: 3 mins

While the long-term benefit of saving for a secure retirement may be obvious, investors may not appreciate the extra tax boost available from saving in an...

Insights categories - Retirement

Retirement fund withdrawals and tax

By Carla Rossouw on 06 May 2014

Reading time: 4 mins

The 2014 National Budget introduced changes to the retirement tax table. From 1 March 2014, the tax-free amount members and beneficiaries can take as a lump...

Insights categories - Retirement

Group retirement annuities bolstered by retirement reform

By Gerhard Klinger and Debbie Ryan on 31 Mar 2013

Reading time: 6 mins

You should not let the current uncertainty around retirement reform inhibit your willingness to save for your retirement; it is very difficult to make up for...

Insights categories - Retirement

Retirement reform: How will the changes affect you?

By Richard Carter on 31 Mar 2013

Reading time: 7 mins

With a very small percentage of South Africans able to support themselves financially in retirement, Treasury has been taking a thorough look at retirement...

Insights categories - Personal investing

The real effect of Dividend Withholding Tax

By Johann Grandia on 26 Apr 2012

Reading time: 5 mins

The new Dividend Withholding Tax (DWT) replaced Secondary Tax on Companies (STC) on 1 April 2012. Investors are understandably concerned about the long-term...

Insights categories - Personal investing

Dividend Withholding Tax increases to 15%

By Carla Rossouw on 24 Feb 2012

Reading time: 5 mins

During his recent budget speech, Minister of Finance Pravin Gordhan, announced that Dividend Withholding Tax (DWT) will be levied at a rate of 15% when it is...

Insights categories - Personal investing

New Dividend Withholding Tax: how will it affect you?

By Carla Rossouw on 31 Dec 2011

Reading time: 6 mins

As part of his February 2011 Budget speech, Minister of Finance Pravin Gordhan announced that Dividend Withholding Tax would come into effect from 1 April...

Insights categories - Retirement

Do the more restrictive individual investment limits on RAs outweigh their tax benefits?

By Wanita Isaacs and Christo Terblanche on 30 Sep 2011

Reading time: 9 mins

Previously, retirement funds were considered an obvious choice for many investors due to the tax benefits they afforded. However, changes to Regulation 28 of...

Insights categories - Retirement

Solving the problem of retirement funding for small and medium-size businesses

By Gerhard Klinger on 31 Dec 2010

Reading time: 8 mins

In Quarterly Commentary 1 of 2008 we introduced you to the Allan Gray Group Retirement Annuity. Two years on we reflect on how this system is proving to be a...

Insights categories - Retirement

Early withdrawals from your retirement savings can be taxing

By Michael Summerton and Carla Rossouw on 30 Jun 2010

Reading time: 8 mins

In this article, Michael Summerton and Carla Rossouw provide an overview of how withdrawal and retirement benefits are taxed. They use practical examples to...

Insights categories - Personal investing

Capital Gains Tax and how it affects unit trust investors

By Rob Formby on 31 Mar 2010

Reading time: 8 mins

At Allan Gray, we focus on managing your investments. We acknowledge that there are important aspects of investing - such as tax on your investments - that a...

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