‘A future to thrive in’ was the theme of the 2018 i3 Summit, hosted by Sanlam Investments and Glacier by Sanlam. More than 600 delegates attended the events and the agenda featured an exciting line-up of esteemed political figures and several investment specialists at the pinnacle of their careers, such as Minister Pravin Gordhan, former Greek Minister of Finance Yanis Varoufakis, political analyst Aubrey Matshiqi, fund manager Delphine Govender, blockchain advisory board member Monica Singer and AI specialist David Itzkovits.
This was the fifth i3 Summit and it hosted experts in economics, politics and the investment industry - independent thinkers with a keen eye for future developments.
Read on to find out what was covered at this year’s i3 Summit.
National Treasury has just delivered the 2018 Budget Review. Again, due to a persistent Budget deficit, certain taxes were raised. An increase in VAT to 15% is the headline story, but for individuals in the top four income tax brackets the range of the income brackets was not adjusted for inflation. In effect, your clients will therefore have less real income left after tax in the coming year.
The stand-out item of the 2018 Budget Speech delivered by Minister Gigaba must be the VAT adjustment. On 21 February the minister announced new tax measures to raise an additional R36 billion in 2018/19 - mainly through a higher VAT rate and below-inflation adjustments to personal income tax brackets.
In his ‘Budget 2018: Bold decisions and good intent’ investment economist Arthur Kamp argues that government is making good decisions but fast approaching the limit for tax as a percentage of our country’s GDP.