Posts tagged with 'retirement'

 

Emigration Tax? ANC Regime to Charge Emigrating South Africans an Additional “Exit Tax” on Retirement Funds!

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In the National Treasury’s latest published Draft Tax Bills, which incorporates the tax proposals made in the 2021 Budget, the amendment proposes a particularly worrying amendment which may upend taxpayers’ carefully planned retirement. The Draft Taxation Laws Amendment Bill (TLAB) proposes an additional “exit tax” to tax retirement fund interests of individuals when they cease South African tax residency. This proposed amendment, due to come into operation on 1 March 2022, would be a further blow to emigrating South Africans wanting to cease their tax residency, following on from the three-year lock-in rule imposed on retirement annuities earlier this year. 

It is important to note that the Income Tax Act No. 58 of 1962 (the Act) already makes provisions for an exit tax where a person ceases their South African tax residency. The Act creates a fiction whereby a person who ceases residency is treated as having disposed of their assets (other than immovable prop
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#SanctionSA Racist ANC Lied to UN: “Merit, and Merit Alone must Be Criterion For Selecting Teams” – Yet 50 Years Later Race Based Selection is Good?

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SA SANCTIONS: By the ANC’s own 50 year old demands, World Rugby, International Cricket Council (ICC), FIFA, International Olympic Committee (IOC), World Athletics, International Cycling Union (UCI), UN and all International Sports Governing bodies, should ban South African sports teams and implement sanctions against the ANC Regime! Francois Pienaar and all the high and mighty, holier than thou administrators, sportsmen, and their fans, are just as hypocritical as the ANC, who clearly will say or do anything, just to gain or hold on to power. When will the world learn that the Left only want power, by any and all means possible, forget whether something is right or good – Black Lives Matter is a nasty example of this, and it is all driven by you, the silent voting public, whose silence is taken as consent. Good men have remained silent, the evil ones have been extremely vocal, and now evil prospers. It is SA-News’ mission to addre
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VIDEO: SA Rugby Elites Bend Their Quivering Knees To BLM Anarchists To Protect Their Fat Cat Incomes, Selling Kith, Kin & Country for Globalist Coin & False Virtue!

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#FarmersLivesMatter!  Faf, AB, Francois, Graeme and all the other kneeling sports PLAYERS, we see you choosing the globalist side and we thank you for finally coming out, and getting off the fence to show your true colours. You guys are 100% right, this issue has no place for fencesitters. Each and every one of us must decide where we stand, what we believe, what is important to us, and what our motives are for what we stand for. There is so much I want to shout out, but with 167 race-driven laws in our country, I dare not. Because I’m going to be in jail for sure and leave my family as vulnerable targets in a country where there is no freedom of speech, and the majority hates the minority with a passion. Is it any wonder your knees  buckled and you cower for fear of being called nasty names and losing your bribe money, er sorry, sponsorships & salaries?

Professional “PLAYERS” like you, I realize more and more daily, have no idea what’s going on in the WORKING
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According to research, many South Africans are ‘too broke to retire’

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A large number of South Africans earning at least R15,000 a month are delaying retirement because they simply can’t afford it, a survey found.

South Africans’ spending habits and aspirations were at odds with reality, a survey by money lender Wonga has shown.

Meanwhile, research also shows that many people are simply too broke to afford retirement.

According to the 2019 Old Mutual Savings and Investment Monitor’s latest findings, a large number of South Africans earning at least R15,000 a month were delaying retirement because they simply could not afford it.

The survey results showed that half of the country’s retirees were working for an employer, 36% had started a business post-retirement, while 13% continued to be self-employed or took up a position as a consultant.

“Including this demographic into our study, reveals the impact that many households suffer because they are financially under-prepared for their
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