by Tony Davey | Apr 15, 2020 | Davey's Locker
Living annuity Generally a living annuity (as distinct from a conventional life annuity, under which a fixed rate of return for life is contractually agreed) is a compulsory purchased investment from a financial institution with a minimum two-thirds of a retirement...
by Tony Davey | Mar 23, 2020 | Davey's Locker
Historically, the R100 000 a year donations tax exemption was popularly applied to write down trust loan accounts by estate-planning trust founders/creditors. But, as I said in 201 TSH 2019, any tax-structuring should always take cognizance of its impact upon other...
by Tony Davey | Feb 23, 2020 | Davey's Locker
The s 10(1)(o)(ii) exemption for foreign employment income of tax residents was originally proposed to be limited to R1 million, with effect as from 1 March 2020. This will be increased to R1,25 million, according to Chapter 4 of the Budget Review, published along...
by Tony Davey | Feb 4, 2020 | Davey's Locker, Uncategorised
INDIVIDUALSThe maximum marginal rate for natural persons remains at 45% and is reached when taxable income exceeds R1 577 300 (previously R1,5 million). The minimum rate of tax remains at 18% on taxable income not exceeding R205 900 (previously R195 850). The primary...
by Tony Davey | Jan 15, 2020 | Davey's Locker
Overview of the tax implications ‘Funder’ attribution There is no straightforward, standard rule in advising an RSA beneficiary of the tax implications of a vested right awarded by the trustees of a foreign trust by way of a distribution. First, you need to enquire...
