The recently released South African Tax Statistics 2013, which is a joint publication of National Treasury and the South African Revenue Service, reveals that just 3.3 million taxpayers shoulder 99 per cent of the tax burden in this country. If you are one of those whose heavy tax bill has left their wallet substantially lighter, you have options that won't leave you running from the law like Al Capone. Port Elizabeth based PWM Financial Management advises; "We certainly do not advocate … [Read more...] about 4 Ways to pay less personal tax
On The Money
‘Silly season’ financial tips
With shopping centres already bustling in Port Elizabeth, here are some financial tips for surviving the silly season and stretching your bonus. Although the festive season is traditionally a time of giving, one should remain financially smart at all times. PWM Financial Management had a look at the South African Savings Institute's (SASI) annual Festive Season Savings Campaign and came up with some pointers for your benefit. Their aim is to help consumers avoid unnecessary overspending … [Read more...] about ‘Silly season’ financial tips
Pieter Willem Moolman: To Trust Property or Not
www.MyPE.co.za: A client is considering a property purchase and would like to know whether it would be better to buy it as an individual or in a trust, writes financial planner Pieter Willem Moolman. Property intelligence is not everyone's forte and, unfortunately, there is no one-size-fits-all answer - so much depends on a person's situation. Knowing my client's personal financial position, I'm well-placed to advise her on her options. For estate-planning purposes, a trust is ideal. In … [Read more...] about Pieter Willem Moolman: To Trust Property or Not
Pieter Willem Moolman: The Show Must Go On
www.MyPE.co.za: It is said that the most important asset in any business is its people, writes financial advisor Pieter Willem Moolman. In every business, however, there are those individuals who have a more significant impact on its future income and profits. They are known as key persons. Not just any employee can be identified as such. A key person is someone whose absence, whether through death or disability, will severely affect the future profitability and sustainability of the … [Read more...] about Pieter Willem Moolman: The Show Must Go On
Pieter Willem Moolman: Business Debt not Personal
www.MyPE.co.za: If you have ever wondered what contingent liability is and whether you can be held liable for it, this article was drafted with you in mind, writes financial planner Pieter Willem Moolman. A contingent liability - a vital part of business assurance - is a potential liability that arises from a past transaction and is dependent on one or more uncertain future events, such as death. Examples of contingent liabilities are endless and could include financial disputes or being … [Read more...] about Pieter Willem Moolman: Business Debt not Personal
Pieter Willem Moolman: Protecting Your Business Partner
www.MyPE.co.za: I recently received a business assurance query about how to prevent problems for the remaining owners when a co-owner dies or becomes disabled, writes financial planner Pieter Willem Moolman. This is a question that applies equally to partners in a partnership, members of a close corporation and shareholders in a company. The issue should not only be of concern to business owners, however, but should also be asked by the surviving spouse of a deceased or disabled … [Read more...] about Pieter Willem Moolman: Protecting Your Business Partner
Pieter Willem Moolman: Illness Cover is Critically Important
www.MyPE.co.za: Financial planning focuses mostly on the death of the income-generating family member and provision for his dependants, writes financial planner Pieter Willem Moolman. Planners often forget, however, to take into account the financial implications caused by a critical illness or traumatic event in the life of the insured. Thanks to ever-increasing medical advancements, people are more likely to survive and recover from illnesses that were fatal in the recent past. Even … [Read more...] about Pieter Willem Moolman: Illness Cover is Critically Important
Pieter Willem Moolman: A Position of Trust
www.MyPE.co.za: I received an enquiry from an anxious client wanting to know whether he can be held personally liable for his actions as a trustee, writes financial planner Pieter Willem Moolman. The answer is simple. Yes, of course you can! In a recent Supreme Court of Appeal case it was found that trustees dealt with trust property without being authorised to do so and that they simply ignored the provisions of the trust deed. Trustees are appointed to look after trust assets on … [Read more...] about Pieter Willem Moolman: A Position of Trust
Pieter Willem Moolman: Eis(h), wat nou?
www.MyPE.co.za: Omdat dit belangrik is om te weet wat jou regte ná 'n eis is, wil ek die beginsel van "subrogasie" verduidelik asook uitbrei oor algemene voorwaardes van versekeringskontrakte, skryf finansiële raadgewer Pieter Willem Moolman. In eenvoudige taal, is subrogasie die reg van 'n versekeraar om namens 'n kliënt teenoor derde partye op te tree en sodanig van die kliënt se regte asook alle beskikbare inligting gebruik te maak. Dit behels byvoorbeeld dat die versekerde die … [Read more...] about Pieter Willem Moolman: Eis(h), wat nou?
Pieter Willem Moolman: Makelaars bied ekstra versekering
www.MyPE.co.za: Moenie blindelings vertrou dat jou korttermynversekering goedkoper gaan wees as jy met ’n “direkte” versekeraar werk nie, skryf finansiële raadgewer Pieter Willem Moolman. Mens sien sodanige maatskappye se advertensies letterlik oral en, met die koste van bemarking, moet mens die vraag vra of dit nie die kliënt op die ou end meer kos as om van die dienste van ’n makelaar gebruik te maak nie. Ek wil my verstout om te sê dat diegene wat met direkte versekeraars werk … [Read more...] about Pieter Willem Moolman: Makelaars bied ekstra versekering
