by O'Hagan Attorneys | Aug 30, 2022 | tax
1. What’s the difference between CGT and income tax? CGT is a component of your income tax. When you sell an investment, 40% of the profit is added to your income and taxed at your marginal tax rate. CGT can apply to shares, unit trusts, property, crypto currency and...
by O'Hagan Attorneys | Mar 30, 2022 | General Interest, tax
This article deals with a topic that should apply to everybody. Giving money to a loved one or a charitable cause that you care passionately about is one of life’s most rewarding acts. Key considerations Before we go into the pros and cons of the various ways of...
by O'Hagan Attorneys | Jan 28, 2022 | Economy, tax
Finance Minister Enoch Godongwana has invited the public to share suggestions on the 2022 Budget he is expected to deliver on Wednesday 23 February 2022. The Ministry of Finance: “As usual, the budget allocation always aims to strike a balance between competing...
by O'Hagan Attorneys | Jan 7, 2022 | Saving & Investing, tax
“The future of money is digital currency” (Bill Gates) If you are thinking of buying – or have bought – any “crypto asset” such as a cryptocurrency like Bitcoin, Ethereum, XRP, Tether, Polkadot (or any of the many other crypto currencies springing up all over...
by O'Hagan Attorneys | Sep 29, 2021 | Financial Planning, tax
“Speak softly and carry a big stick” (U.S. President Franklin D Roosevelt) It’s a frightening prospect owing the Taxman money. SARS may (or may not) “speak softly” but it definitely carries a “big stick” – a very big one. It has extensive debt collection powers,...
by O'Hagan Attorneys | Aug 30, 2021 | Saving & Investing, tax
“Every advantage has its tax” (Ralph Waldo Emerson) Unfortunately, building your wealth does not come without cost. Besides the fees that you have to pay on any investment, you also need to think about where and how you are being taxed. South African...
