Author: Imali-admin

New banknotes to honour Madiba’s centenary

As the commemoration to mark the 28th anniversary of the release from prison of Former President Nelson Mandela continued on Sunday, the South African Reserve Bank (SARB) has announced that it will issue a set of commemorative banknotes to honour the former statesman’s centenary. Mandela would have turned 100 years this year. Events have been planned to celebrate his centenary. “The South African Reserve Bank will this year launch a set of commemorative South African banknotes in honour of what would have been Nelson Mandela’s centenary. These notes will cover all denominations – R10, R20, R50, R100 and R200”...

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the app that can bring you up to speed on SA’s tax laws

An app has just launched locally could prove to be a real asset for businesses, accountants, lawyers and even students interested in South African tax law. The app, which is called hApp-e-tax, is available on tablets and smartphones and has been designed to make information about South Africa’s tax legislation easily accessible. Developed by local tax consultant Herschel Alpert, hApp-e-tax includes the Income Tax Act, the Tax Administration Act, interpretation and practice notes, a comprehensive definitions list and space for notes and folders. “I know only too well the issues faced by South African tax professionals in getting tax information fast,” Alpert...

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Millions of lives in jeopardy unless Treasury takes over social grants

It is clear that another social grants standoff is rapidly approaching, with Social Development Minister Bathabile Dlamini, the South African Social Security Agency (Sassa), and Cash Payment Services (CPS) on one side, and 17 million poor and vulnerable South Africans on the other side, the Democratic Alliance said on Sunday. The DA supported a report submitted to the Constitutional Court this week by the panel of experts appointed to oversee Sassa’s readiness to take over the distribution of social grants, DA spokeswoman Bridget Masango said. In its report, the panel had recommended that the department of planning, monitoring, and...

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Capitec meets prudential requirements

The South African Reserve Bank (SARB) has noted the Capitec report which was released by US based company Viceroy Research. The company released a report on Capitec stating that the bank is operating as a loan shark. “Based on our research and due diligence, we believe that Capitec is a loan shark with massively understated defaults masquerading as a community microfinance provider,” the report said. Futhermore, the report called on SARB and the Finance Minister to place Capitec under curatorship. SARB said as part of its mandate, it monitors the safety and soundness of all banks, including Capitec Bank...

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Wise Consumers Borrow Wisely

Borrowing money recklessly to finance luxuries can trap consumers in a vicious cycle of debt for years. The beginning of the year is an ideal time to improve the way we manage our personal finances. Steering clear of debt is not as difficult or overwhelming as it often seems, even during these hard financial times. We have put together some handy tips to guide you as you embark on the journey to improve your personal financial management in 2018: Borrow as little money as possible – Borrowing to fund your children’s education or to buy a house can be...

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