Guiding consumers since 2009

Government considers bid to encourage savings

By Staff Writer

Finance minister Pravin Gordhan on Wednesday revealed the government’s bid to encourage voluntary savings in South Africa, consideration is being given to the introduction of  tax-exempt short and medium-term savings products.

The proposal is that individuals should be permitted to save up to R30 000 a year, with a lifetime limit of R500 000, in  registered savings or investment products that would be free of tax on interest, dividends or capital gains.

“The current tax free interest income thresholds will be reviewed and possibly phased out as part of this reform and dull details of the proposals can be found in the Budget Review,” said  finance minister Pravin Gordhan.

Recent Articles

Featured Turn your debt around in 6 months

For many of us, January is the month to set goals, find renewed motivation, and make changes to areas of our lives where we feel that they’re needed. But let’s be honest, as the year and the motivation dwindles, these goals are often forgotten.

Which bank offers the best home loan?

Applying for a home loan can be a stressful experience – from filling out the paperwork to comparing the interest rates and navigating all the potential red tape. But it needn’t be.

6 smart ways to select the best medical scheme

It’s important to belong to a medical scheme that offers great benefits at affordable prices. However, due to insufficient knowledge, many people find themselves paying higher premiums for a medical scheme which does not even meet their needs.

Calculate your vehicle finance instalments

You’ve dreamed of a set of wheels since you can remember, and now that you’re a responsible adult with a steady income, you’re ready to take on funding to make this dream a reality. But what kind of vehicle finance options are available to you? Justmoney gives you the rundown.

Deals

Wimpy Cheese Griller Brekkie Special

Price: R49.90
When: Until 9 September
Where: Nationwide

Mowana Spa Me Time Indulge Special

Price: R899
When: Until 31 August
Where: Fourways

Premier Hotels Weekend Getaway Special

Price: From R540
When: From 1 September
Where: Nationwide