On Wednesday last week, South Africa’s Finance Minister delivered his maiden budget speech. Minister Mboweni attempted to limit the negative impact on economic growth by not increasing the tax rates for natural persons. Some of the main points from the budget were the following:
- No income adjustments to personal income tax.
- Rebates and tax-free thresholds marginally increased for natural persons.
- No increase in the annual interest exemption.
- Tax-free investments limits remain the same; R33,000 annual allowance with a R500, 000 lifetime allowance
- Medical tax credits remain the same.
Invitation to attend our first presentation of 2019
We would like to remind you that we will be hosting the chief investment officer of Allan Gray, Andrew Lapping, on the 6th of March 2019.
Andrew will be providing a market update as well as sharing his views on the current state of the South African stock market. To make sure you do not miss out on your seat at this event simply click on the RSVP.
Date: Wednesday 6th March 2019
Time: 11h00 for 11h30
Venue: Allan Gray Offices, 1st Floor, Brookes on the Bay, Humewood, Port Elizabeth.
Don’t miss out on the opportunity to reduce your tax
February 28th is the end of the financial tax year. For those investors who have not contributed the maximum amount into a retirement annuity, this is a great opportunity to minimise your tax liability whilst making provision for your retirement. Investors who wish to make any last minute contributions can click on the following link.
The Marriott Retirement Annuity attempts to assist investors in being able to predict what amount of income they may expect once they come to retire. This is based on Marriott’s investment philosophy of investing in local and international companies that will continue to produce both reliable and growing income regardless of the market conditions. By implementing this investment strategy Marriott are able to reasonably predict what your income in retirement will be. For more information or to invest in the Marriott Retirement Annuity please click here.