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Tag: South African Reserve Bank (SARB)

Five questions SME should ask before applying for funding

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The global economic landscape has undergone a seismic shift since the arrival of COVID-19 over a year ago. However, while the pandemic caused significant business challenges, it also triggered and accelerated many innovations as organisations adapted to change, often simply to survive.

MPC kept repo rate at 3,5% but sees inflation risks to...

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All five members of the Monetary Policy Committee (MPC) decided to keep the repo rate unchanged at 3,5%. It has been on this level since 23 July 2020. The MPC viewed the overall risks to the Consumer Price Index (CPI) outlook to be on the upside compared to balanced in the March 2021 statement. This means the MPC’s interest rate outlook is more hawkish.

Understanding an offshore allowance

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With an economy in the doldrums, South Africans are increasingly looking to make use of business and investment opportunities offshore. However, it’s important to note that as a South African resident, you are subject to certain exchange control regulations.

Unchanged interest rates a catalyst for sustainable economic activity

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Against the backdrop of easing lockdown restrictions and a reassuring National Budget, the South African Reserve Bank’s (SARB) decision to keep the repo rate unchanged provides further impetus for more sustainable economic activity.

Nedbank holds back on dividend

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The bank is taking a cautious approach due to pandemic uncertainty but says payouts may resume as early as June. Nedbank won't be paying a final dividend for 2020 after rising credit impairments, fewer transactions and falling interest rates resulted in a big decline in full-year earnings. But it is confident that payouts will resume this year.

Clarification of 3-year rule for retirement benefits on emigration

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Much confusion and debate seems to exist in the market regarding the changes to the access to retirement benefits (pension preservation funds, provident preservation funds and retirement annuity funds) on emigration. The concept of ‘emigration’ and the SARS approval process (via MP336b) falls away from 1 March 2021 and is replaced with the concept of an individual ‘ceasing to be a resident for tax purpose’ in South Africa.

Budget 2021 | SA Finance Minister Tito Mboweni’s Speech

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The 2021 Budget was tabled to Parliament on 24 February 2021 by South African Finance Minister Tito Mboweni.

All you need to know about the repo rate

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The South African Reserve Bank recently announced that it is holding the repo rate steady - but what does this actually mean for property owners, and why should prospective buyers care if the repo rate falls or increases?

President Ramaphosa signs 3-year retirement fund lock-in into law

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The President, on 15 January 2021, assented to the Taxation Laws Amendment Act No. 23 of 2020 (TLAA), which was subsequently promulgated on 20 January 2021. Despite the blow back last year on the proposed amendment to the withdrawal of retirement funding in SA based on emigration, this amendment has now been signed into law and will become effective on 1 March 2021.

Cryptocurrency predictions for 2021

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Ongoing volatility, further progress on regulations and continued interest from institutional investors can be expected in 2021. Looking back at our predictions from last year - the Bitcoin halving happened without a hitch and the industry matured as institutional investors entered the market.

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