Money Business

Annual Budget South Africa Infographic : Financial Infographics

admin — Tue, 31 Jan 2012 09:05:53 +0000

As all countries South Africa has its annual budget address to the media and general public. Deloitte South Africa has taken the next step to ensuring that everyday South Africans understand the budget and its implications by compiling the 2010/2011 budget results into an infographic. The Deloitte SA infographic highlights the key points raised by SA finance minister Pravin Gordhan.

Really nice work by their creative team, have a look and share.

Get the full infographic here – http://ow.ly/8Mgct

Auditing Firms in South Africa : Best Audit Companies in South Africa Legal requirements demand that listed companies and high profile organisations...

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Call Account Rates : Bidvest Bank Call Accounts

admin — Wed, 09 Nov 2011 20:40:25 +0000

A Bidvest Call Account offer competitive interest rates and access to your funds when you need them, offers competitive interest rates for a minimum deposit of R1000 and access to your funds whenever you need them, usually within 24 hours.

Funds can be held in the account for an unlimited investment period and partial withdrawals and additional deposits can be made at any time. The interest rate is determined by the balance in the account and is calculated daily and capitalised monthly.

7 Day Call Account

From a minimum balance of R5000 up to a maximum of R1 million, an individual can earn a flat rate of 5% per year. Funds can be held in the 7 Day Call Account for an unlimited period. Partial withdrawals and additional deposits can be made at any time after the first 7 days, thereafter access is granted within 24 hours. The interest rate is calculated daily and is capitalised monthly.

The interest rate on the account will change in line with changes in the Prime lending rate determined by the South African Reserve Bank.

Call Account Interest Rates:

Rates effective from 1 September 2011. Rates are indicative and subject to change
R 1000 < R 24 999	2.20%
R 25 000 < R 49 999	3.90%
R 50 000 < R 99 999	4.00%
R 100 000 < R 249 999	4.10%
R 250 000 upwards	rate on application

Bidvest Cash Passport : Bidvest Cash Travel Cards The Bidvest Cash Passport card offers the user all the...

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Bidvest Cash Passport : Bidvest Cash Travel Cards

admin — Wed, 09 Nov 2011 20:24:14 +0000

The Bidvest Cash Passport card offers the user all the security of a travellers cheques with the added convenience of plastic, this means travellers wont need to travel with cash on their person with the added convenience of just swiping a card.

Bidvest Bank’s Cash Passport card combines the security features of a traveller’s cheque with the convenience of a card to ensure that you do not carry large amounts of cash overseas. Cash Passport holds your foreign exchange at the rate it is purchased at and is also an ATM and debit card the can be used at millions of ATMs, stores, restaurants and hotels worldwide that display the Visa sign.

Bidvest Cash Passport Features:

Currency is pre-loaded to minimise risk of overspending
Debit card functionality
ATM withdrawal functionality allows instant access to local currency
Re-loadable at any time
Fixed exchange rate at the time of purchase protects you from daily rate fluctuations
PIN and signature protected for enhanced security
24 hour international emergency assistance for lost / stolen cards
Available in US Dollars, Euros, Great British Pound, Australian Dollars

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Auditing Firms in South Africa : Best Audit Companies in South Africa

admin — Mon, 07 Nov 2011 20:29:33 +0000

Legal requirements demand that listed companies and high profile organisations be audited to meet legal requirements and preferably at a value for money rate. Considering the fact that an audit is the most rigorous scrutiny your company might ever undergo, it is also an opportunity for the company to find out more about their business and the market that they’re in.

Currently, the Top Auditing Firms in South Africa are:

Deloitte
KPMG
PWC
Ernest & Young
Grant Thornton
BDO
Accenture

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Cadiz Investments Money Market Fund

admin — Sun, 06 Nov 2011 15:24:16 +0000

The Cadiz Investments Money Market Fund aims to deliver high levels of income in excess of returns available through the fixed term deposits and call accounts offered by banking institutions, while providing investors with capital protection and the stability of monthly returns and liquidity. The average duration of the Fund may not exceed 90 days.

Key Money Market Fund Features:

Inception Date – 1 March 2006
Benchmark – SteFI Composite
Sector – Domestic – Fixed Interest – Money Market
Risk Profile – Low
Asset Composition – Money market instruments
Minimum Investments – Lump sum: R20 000 / Monthly: R1 000 / Ad hoc: R500
Initial Fees – 0%
Annual Management Fees – 0.25% (excluding VAT)
Income Declaration – Monthly – 0.446745 cpu @ 30 September 2011
Income Payment – 1st working day after declaration date
Fund Size – R2.433 billion
Fund Manager – Adré Smit

Find out more…

Allan and Gray Investments Allan Gray is a South African investment management company that...

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Allan and Gray Investments

admin — Sun, 06 Nov 2011 15:03:12 +0000

Allan Gray is a South African investment management company that offers numerous investment vehicles to individuals and institutions alike. Allan Grey’s focus is on long term relationship and long term investment returns and performance for serious investors.

Some of Allan Gray’s largest clients include individuals, retirement funds, insurers, trusts, companies and foundations investing in Southern Africa. They do not focus size of assets under management, but rather the focus is on investment performance . Allan Gray has an international footprint through its association with the Orbis Group.

Allan Gray was founded both Allan Gray Proprietary Limited and the Orbis Group and Gray family interests continue to control both firms.

Allan Gray Investments offered include:

Units Trusts
Offshore Investments
Retirement Investments
Preservation Funds

Visit the website for more…

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Tax Implications of Gauteng Road Tolling

admin — Sun, 06 Nov 2011 14:47:07 +0000

Due to the Gauteng Freeway Improvement Project every Gauteng commuter will be required by law to pay to use the freeway. The implications of this range far beyond driving for point A to point B, but will reach even the poorest of the poor’s pockets.

Tax Director at Deloitte Billy Joubert has written a comprehensive piece of thought leadership to explain the implications on taxation that will touch our everyday lives. Joubert explains that currently employees do not receive relief for the costs of travelling to and from work, even though this is arguably incurred in the production of their taxable income.

This rule is quite harsh, believes Joubert, and can be seen to represent a departure of the basic principles of tax law. It becomes even harsher when people are obliged to incur such a significant additional expense.

Find out more…

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South African Tax System Explained

admin — Sun, 04 Sep 2011 13:20:25 +0000

MoneywebTex recently posted an article that I would like to share with you, it is a brilliant piece written for people who don’t understand or just don’t want to understand how tax works. So here it is, enjoy:

Suppose that every evening, ten men go out for beer and the bill for all ten comes to R100. If they paid their bill the way we pay our taxes, it would go something like this: The first four men (the poorest) would pay nothing. The fifth would pay R1. The sixth would pay R3. The seventh would pay R7. The eighth would pay R12. The ninth would pay R18. The tenth man (the richest) would pay R59. So, that’s what they decided to do…

The ten men drank in the bar every evening and were quite happy with the arrangement, until one day, the owner said, “Since you are all such good customers, I’m going to reduce the cost of your daily beer by R20″. Drinks for the ten men would now cost just R80.

The group still wanted to pay their bill the way we pay our taxes. So the first four men were unaffected. They would still drink for free.

But what about the other six men? The paying customers? How could they divide the R20 windfall so that everyone would get his fair share? They realised that R20 divided by six is R3.33. But if they subtracted that from everybody’s share, then the fifth man and the sixth man would each end up being paid to drink his beer.

So, the bar owner suggested that it would be fair to reduce each man’s bill by a higher percentage the poorer he was, to follow the principle of the tax system they had been using, and he proceeded to work out the amounts he suggested that each should now pay. Therefore, the fifth man, like the first four, now paid nothing. The sixth now paid R2 instead of R3 (33% saving). The seventh now paid R5 instead of R7 (28% saving). The eighth now paid R9 instead of R12 (25% saving). The ninth now paid R14 instead of R18 (22% saving). The tenth now paid R49 instead of R59 (16% saving).

Each of the six was better off than before. And the first four continued to drink for free. But, once outside the bar, the men began to compare their savings. “I only got a rand out of the R20 saving,” declared the sixth man. He pointed to the tenth man, “but he got R10!”

“Yeah, that’s right,” exclaimed the fifth man. “I only saved a rand too. It’s unfair – he got 10 times more benefit than me!”

“That’s true!” shouted the seventh man. “Why should he get R10 back, when I got only R2? The wealthy always win!”

“Wait a minute,” yelled the first four men in unison, “we didn’t get anything at all. This new tax system exploits the poor!”

The nine men surrounded the tenth and beat him up.

The next night the tenth man didn’t show up for drinks, so the nine sat down and had their beers without him. But when it came time to pay the bill, they discovered something important. They didn’t have enough money between all of them for even half of the bill!

And that, boys and girls, journalists, labour unions and government ministers, is how our tax system works. The people who pay the highest taxes will naturally get the most benefit from a tax reduction. Tax them too much, attack them for being wealthy, and they just may not show up anymore. In fact, they might start drinking overseas, where the atmosphere is somewhat friendlier.

(For those who understand, no explanation is needed. For those who do not understand, no explanation is possible.)

Original article…

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Oil Investing : Invest in Oil and Gas Commodities

admin — Mon, 04 Jul 2011 20:00:41 +0000

Oil Investing as daunting as it may sounds, does give investors quite a fews options to get involved in trading of oil shares each with its varying degrees of risk and range from direct investment in oil as a commodity, to indirect exposure in oil through the ownership of energy-related equities.

One direct method of owning oil is through the purchase of oil futures or oil futures options. Futures are highly volatile and involve a high degree of risk. Additionally, investing in futures may require the investor to do a lot of homework as well as invest a large amount of capital.

Another direct method of owning oil is through the purchase of commodity-based oil exchange-traded funds (ETFs). ETFs trade on a stock exchange and can be purchased and sold in a manner similar to stocks.

In addition, investors can gain indirect exposure to oil through the purchase of energy-sector ETFs, like the iShares Global Energy Sector Index Fund (PSE:IXC), and to energy-sector mutual funds, like the the T. Rowe Price New Era Fund (PRNEX). These energy-specific ETFs and mutual funds invest solely in the stocks of oil and oil services companies and come with lower risk.

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Car Finance Tips : Vehicle Finance Tips

admin — Mon, 04 Jul 2011 19:50:05 +0000

Car Finance can be a tricky subject when you dont do your homework. The excitement and importance of the occasion often goes past the buyer and in the end he / she sits with a vehicle that they cannot afford and hates whilst owning it. Below are a few tips to help first time car buyers not make the sames mistakes as thousands before them.

1. Be cautious when choosing your new car
The biggest decision to influence what you pay each month is the type of car you will be driving! Used cars are often a much more affordable option as the previous owner has taken the hit on depreciation over the first couple of years. The cheaper the car, the less car finance required and in turn the less the monthly premiums. The price, size and type of the vehicle will also play a big part in the monthly insurance repayments.

2. Put down a bigger deposit
With interest rates rising putting a good deposit down on your new or used car will make a big difference to your monthly payment. The larger the intial deposit on your car, the lower the monthly premiums will be.

3. Pay as much as you can afford on monthly
Car finance can be organized for anything from 12 months to 5 years. The lower the period you choose, the more your monthly payment. Be careful however to compare your total payment over duration of the deal for different payment periods. Paying your new or used car off quickly will dramatically reduce your total spend.

4. Look out for extras
Often car finance deals include a host of other products. Make sure the finance consultant fully explains what you’re getting and what each item costs.

5. Ask about penalties
Pay careful attention to the terms of the loan. Make sure there are no penalties for paying your used or new car loan off early.

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