Local markets were aided by the positive global market sentiment, and the ALSI increased almost 3% on the back of positive returns from the big four banks, with financial services returning 7% overall.
SARS rewards you for contributing to a retirement fund now so your older self does not become dependent on the state in retirement. Since 2016 you can contribute up to 27.5% of your total annual income to a retirement fund and pay significantly less tax. We often get the question: how does the tax relief on contributions to an RA work? We’ll show you with a few examples how your RA contributions affect your tax bill.
Taking stock of your finances at the start of February can make or break your tax plan for the year ending 28 February. Now is the ideal time to spot the gaps where you haven’t yet fully used all of your tax-free allowances, whether it’s via a retirement annuity (RA) or a tax-free savings account (TFSA). But which one should you use? RA or TFSA?
Sanlam walked away with two certificates and one Raging Bull Award at the 23rd annual Raging Bull Awards Ceremony. The winners for straight performance over the past three years to end 2018 were the SIM Enhanced Yield Fund and the Sanlam Global Property Fund. The winner for risk-adjusted performance was the Sanlam Multi Managed Conservative Fund of Funds.
The end of the tax year is just around the corner and smart investors are doing the calculations to find out exactly how much they can still put into their RA before the gates to tax-relief paradise slam tight – for this year. The good news is that you can now allocate up to 27.5% of your total annual income to a retirement fund and pay less tax for the year. But which retirement fund should you top up: your RA or your employer’s fund?
While emerging markets wobbled alongside global markets during December, the MSCI Emerging Market Index fared better than the MSCI World Index. But, over half the JSE’s stocks have entered the bear market space and investors gained little from the virtually non-existent “Santa Rally”.
Global markets started the month hesitantly in anticipation of the US midterm elections. This, alongside the trade sanctions posed on Iran and Trump’s continued criticism of the Fed increasing interest rates, contributed to investors’ unease. And, the technology sector fell again later in November, led by a decline in the Apple share price. The decline allowed Microsoft to overtake the former giant as the world’s most valuable company.