Tag: expenditure

The Gauteng High Court recently dismissed the appeal of Unitrans Holdings (Unitrans) against the Tax Court judgment which had denied a tax deduction for interest incurred. The court found that the interest incurred was not closely connected to Unitrans’ business operations as an investment holding company and that the purpose of the interest was not to produce income but to further the interests of the subsidiaries.

Minister of Finance Enoch Godongwana delivered his Budget Speech 2024 to Parliament and the nation on 21 February 2024. A key announcement was that tax rates will not be increased in 2024/2025, as previously signalled by the Medium-Term Budget Policy Statement (MTBPS) 2023, to generate the extra R15 billion needed in revenue.

Committing to maintaining sustainable public finances proves to be challenging amidst a geopolitically tense global environment, less favourable growth in the global economy, and persistent energy and logistics obstacles locally. These factors collectively jeopardise government revenue growth, widen the budget deficit, and increase the country's debt ratio.

Black Friday has grown in prominence in South Africa over the last few years and has fundamentally changed the way South Africans shop. While average spending in November has historically been higher than in the first 10 months of the year, it was always well below the traditional festive season trading numbers recorded in December.

As the year draws to a close, the festive season emerges as a pivotal juncture for both South African businesses and consumers, laden with anticipation and opportunity. With South African consumers facing financial hardships in the form of multiple interest rate hikes and fuel price increases, research indicates that South Africans are still projected to spend over R200 billion this festive season

Resilience is key to building a successful and sustainable organisation capable of withstanding internal and external shocks. Building resilience asks that the organisation bed down stable and agile financial foundations that are aligned with global and local governance, risk and compliance (GRC) mandates.

The untapped potential of Small and Medium Enterprise (SME) in the country is astounding. However, the red tape placed on them is even more startling. In South Africa we wouldn’t stand for our national teams playing with their hands tied behind their back.

After a long, hard year, many of us look forward to charging full steam into the festive season; spending and spoiling ourselves and our loved ones with abandon. And when it comes time to deal with the consequences of our financial decisions…well, isn’t that what January is for?

A financial relationship built on consensus will put you on the path towards long-term financial security. Planning for retirement is difficult enough on your own, but getting two people to agree on a lifelong strategy to prioritise expenditure whilst saving for the future can be exceedingly difficult.