MEREDITH HARINGTON INCORPORATED
MEREDITH HARINGTON / Chartered Accountants & Business Advisors
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MEREDITH HARINGTON DECEMBER 2012 NEWSLETTER
AVOID NEW DEBT AND REDUCE CURRENT DEBT
So you have had a rough year and the holiday season is upon us. It is time to relax and put that 13th cheque to good use. Should you spend it on a fancy holiday or treat your loved ones with expensive gifts? If you did not receive a bonus you might be thinking of taking a payment holiday on your mortgage bond. Good idea or bad idea?
TAXMAN RELENTS ON INVESTMENT ALLOWANCE
During 1996, exchange control regulations were relaxed so that private individuals could invest certain sums of money abroad, subject to the requirement of obtaining a tax clearance certificate from the Commissioner: South African Revenue Service (SARS). The amount which could be invested has been increased fairly regularly, and the so-called foreign investment allowance, whereby natural persons may invest offshore, is now R4m per person per calendar year for taxpayers in good standing and over 18.
The views expressed herein are those of the sender and do not necessarily reflect those of Meredith Harington. The information contained in this communication is confidential and may be legally privileged. It is intended solely for the use of the individual or entity to whom it is addressed and others authorised to receive it. If you are not the intended recipient you are hereby notified that any disclosure, copying, distribution or taking of action in reliance on the contents of this information is strictly prohibited and may be unlawful. Meredith Harington is neither liable for the proper, complete transmission of the information contained in this communication nor any delay in its receipt. Meredith Harington is incorporated in separate companies – refer to our website for company details.
Date Posted: 2012-12-19
Posted By: MEREDITH HARINGTON INCORPORATED
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