Globally the world has moved into a higher inflation environment and South Africa is no exception. However, interest rates can contain inflation only to a certain degree and, like chemotherapy, it has the potential to destroy what is good in an economy while trying to cure the illness, writes Maya Fisher-French.
Investing R15 000 into a solar geyser could be the best investment you ever make. And it is socially responsible investing — which is all the rage at the moment. With cash returns in the region of 11% and stock market investments looking very risky, you could have a guaranteed annual return of 12% or higher from your solar geyser — and that’s before Eskom hikes its rates.
The latest slew of economic data suggests we might see a further rate hike. Some economists predict further interest rate hike of 100 basis points before we see the peak, bringing the prime lending rate to 16%. To add salt to our wounds, the high interest rates are likely to be around for a considerable length of time.
Want to buy property or shares in Zimbabwe? Just bring along a bag of fertiliser or some cooking oil. Maybe it’s not quite that easy. But liberalisation of the economy has started and, as a country on its knees desperate for food and "strategic" goods, Zimbabwe has introduced a barter system in return for assets.
The reality is that often a person who has been responsible for causing an accident changes his or her story when it comes time to claim. Because of the way the insurance industry operates, you might find that your insurer is not particularly helpful in resolving the issue.
South Africa’s financial services industry might be relatively unscathed by turmoil, but the flight of investors could bring a balance-of-payments crunch, writes Maya Fisher-French. This liquidity crisis has come at a critical time for the country, which is facing its own set of economic woes.
Many tax practitioners and their clients will find themselves on the wrong side of the Receiver of Revenue as the final date to submit tax returns passed on Friday. Tax practitioners have faced big delays because of major technical glitches with the e-filing system, while individuals are being asked taxing questions.
Since September last year, divorcees have been able to receive a portion of their ex-spouse’s pension fund without waiting until retirement. But confusion about the taxation of these funds and whether divorce orders prior to the change in legislation qualify has meant that the payment has often not been made.
If political uncertainty, power cuts and the economic slowdown is making you stay out of the market; think again. You can still make money out of South African equities when the going gets tough. Last year, Investec launched RandHedge as part of its exchange-traded fund "Z-shares" range.
South African credit-card holders travelling abroad continue to pay hidden fees despite a rigorous investigation into banking practices by the Jali commission last year. Banks charge a currency conversion fee of between 2% and 3% for overseas transactions. Yet, apart from Nedbank, this fee is not reflected on bank statements.