Where did 2019 go?

It seems as though the year simply raced by! Christmas is upon us and a New Year is dawning.

Traditionally investors top up their retirement annuities in February. But as we approach 2020 give some thought to topping up your retirement annuities before the end of the tax year on 29^th February 2020. Retirement annuity contributions are tax-deductible (within certain limits) so beat the taxman this financial year by adding to your retirement annuities!

If one of your goals is to reduce the amount of income tax or capital gains tax on your existing investments, you can invest in a tax-free investment account and benefit from the tax savings. There is no income tax or capital gains tax on tax-free investments. The maximum amount that one can invest in a tax-free savings account is R 33 000 per tax year, with a lifetime maximum of R 500 000.

For help with topping up your retirement annuity or investing in the tax-free investments please contact us.

Continuous Professional Development (CPD)

The Fit and Proper requirements for Financial Services Providers (Board Notice 194 of 2017) introduced legislation to ensure that Key Individuals and Representatives are competent. Moreover, the Board Notice defines “competence” as having the skills, knowledge and expertise needed for the proper discharge of a person’s responsibilities in the performance of his or her functions.

Key Individuals and Representatives are required to:

• maintain knowledge and skills that are appropriate for their activities and responsibilities;
• update their knowledge and skills
• develop new knowledge and skills to assist with their current functions and responsibilities or functions contemplated in the future

We, at Kevin Mills Financial Services cc, embrace this legislation as it affords our Key Individuals and Representatives a platform to develop and hone their investment skills and provide our clients with appropriate advice in the ever-changing environment.

Over the past year the Key Individuals and Representatives have attended Continuous Professional Development Training provided by the following institutions; Allan Gray, Ashburton, BCI, Coronation, Foord, Investec, Marriott, Mill Park Business School, Old Mutual, PSG and Stanlib.

The Continuous Professional Development training provided:

• a continuing update of global and South African markets and expectations for the markets for 2020 and beyond, investor behaviour and its impact on investor returns and 
• Investor behaviour and the impact of such behaviour on the investment returns
• Amendments to legislation and the impact of this legislation on individual investors.   

Christmas Shutdown

Our offices will close for the festive season on Friday 13^th December 2019 and will re-open on Monday 6^th January 2020. We wish all our clients, friends and colleagues a Blessed Christmas and a happy and prosperous New Year!

“But the angel said to them, ‘Do not be afraid; for see—I am bringing you good news of great joy for all the people: to you is born this day in the city of David a Saviour, who is the Messiah, the Lord.’” (Luke 2:10-11)