January 18, 2024

Beware of Tax-Related Scams

Over the past five years, the SAFPS has seen a steady increase in the number of tax-related scams. Improved efficiency To improve efficiency when it comes to processing tax returns, and to encourage individuals and businesses to file their tax returns timeously, SARS launched its eFiling service in 2000. This allows taxpayers to file their returns electronically. Unfortunately, this provided scammers with increased opportunities to turn taxpayers into fraud victims. Fraudsters use a very focused modus operandi when running this scam. In the weeks following the tax deadlines, taxpayers will typically receive an SMS informing them that they have yet […]
January 18, 2024

The Financial Costs and Benefits of Solar Power

The shift towards renewable energy in South Africa has seen a significant rise in the adoption of solar power. While the benefits of solar energy, such as sustainability and long-term cost savings, are well-known, it’s important to also consider the hidden costs and challenges associated with solar power systems. This balanced analysis aims to provide a comprehensive view of solar power financing, highlighting both the advantages and the often-overlooked aspects. Advantages of solar power Reduced electricity bills: The primary advantage of solar power is the potential for substantial savings on electricity bills. As Eskom tariffs continue to rise, solar technology becomes […]
January 18, 2024

Overcome Your Shopping Addiction

Shopaholism, or compulsive shopping, is a behavioural issue that has become increasingly prevalent in the era of easy online shopping access. While it may seem harmless initially, shopaholism can quickly escalate, significantly affecting an individual’s life in various negative ways. Can shopaholism be considered a real addiction? Shopaholism or compulsive shopping is recognised as a behavioural addiction. It shares many characteristics with other addictive behaviours, such as an inability to control the behaviour, continuing the behaviour despite negative consequences, and experiencing withdrawal symptoms when attempting to stop. The negative impacts of shopaholism Shopaholism often leads to severe financial instability as […]
January 18, 2024

From Departure to Encashment

How the two-pot retirement system impacts expats The much-anticipated two-pot retirement system, introduced as a ‘knight in shining armour’ for South Africans, has received a new implementation date of March 2024. Expats are cautioned to pay attention to the effects that this will have on the encashment of their retirement savings. While many have addressed the two-pot system and its possible effects on South African residents, very little has been outlined regarding the practical impacts this system will have on South Africans who have ceased their tax residency—the expats. A brief recap Expats have faced quite some challenges with encashing […]
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