Forex

 

New Tax Tables For 2017: This Is How Much You Will Pay

Leave a comment

Following the announcement of new tax changes for the 2017/18 financial year by finance minister Pravin Gordhan, the country’s tax tables have been updated. One of the biggest changes announced by the finance minister is the introduction of a new tax bracket, aimed at the country’s wealthy. South Africans who earn more than R1.5 million..
Continue reading…

Enjoyed this post? Share it!

 
 

The euro lost ground against the dollar

2 Comments

The euro lost ground against the dollar yesterday after polls suggested that the ‘right’ and ‘left’ camps will fight it out for the French Presidency in April. The weaker euro, coupled with concerns surrounding former Eskom CEO Brian Molefe’s move to Parliament (next stop Treasury?), Forex helped keep the local unit on the back foot…
Continue reading…

Enjoyed this post? Share it!

 
 

SAA to remain under intense government oversight – Gordhan – Budget 2017

Leave a comment

SAA will remain under intense government oversight, Finance Minister Pravin Gordhan said in his report contained in National Treasury’s 2017 Budget Review, which he tabled in Parliament on Wednesday. Referring to recommendations made by the Select and Standing Committees on Finance on the 2016 Revised Fiscal Framework, Gordhan said the committees recommend that National Treasury..
Continue reading…

Enjoyed this post? Share it!

 
 

Gordhan ups social spending and squeezes the rich

Leave a comment

Despite trying circumstances, Finance Minister Pravin Gordhan announced on Wednesday that the budget introduces new tax measures that target the rich and that social spending is prioritised to favour the poor. In his highly anticipated budget speech, Gordhan announced a new top personal income tax rate of 45% for those with taxable incomes of more..
Continue reading…

Enjoyed this post? Share it!

 
 

Gold Market Update – 23rd Feb 2017

LONG TERM TREND                            BEARISHINTERMEDIATE TERM TREND              BEARISHSHORT TERM TREND                          BULLISHVERY SHORT TERM TREND                 BEARISH Gold found support at 1216 last week after a short and shallow correction and has rallied back up to the resistance zone at 1244-1246 this week at the 200 week MA. The gold price is..
Continue reading…

Enjoyed this post? Share it!

 
 

Conspiracy, disinformation and Zuma-Gordhan fight loom over budget

Leave a comment

A year after President Jacob Zuma began feuding with his Finance Minister Pravin Gordhan over control of the nation’s purse strings, the conflict appears to be coming to a head. When he presents his annual budget in Parliament on Wednesday, Gordhan will seek to keep state spending in check and fend off a junk credit..
Continue reading…

Enjoyed this post? Share it!

 
 

Mashaba ‘still pissed off’ – businessman Reddy on City Power investigation

Leave a comment

Mayor Herman Mashaba’s investigation into alleged corruption involving the city’s R1bn smart electricity meter tender is just petty politics, businessman Vivian Reddy said. Reddy is the owner of Edison Power which was awarded the billion rand tender to install smart meters throughout the municipality. The contract has been probed four times in the past by..
Continue reading…

Enjoyed this post? Share it!

 
 

ANC plans ‘constitutional revolution’ on land

Leave a comment

The government is planning a “constitutional revolution” to fast-track land reform, including considering expropriation without compensation. The ruling party also wants land reform to include restitution for “precolonial dispossession” before the 1913 Native Land Act came into force, and a cap on the amount of land an individual can own. With most South African land..
Continue reading…

Enjoyed this post? Share it!

 
 

The nuts and bolts of radical economic transformation

Leave a comment

At President Jacob Zuma’s second inauguration, he vowed that economic transformation would “take centre stage” during his last term of office. He promised that “the structure of the economy will be transformed through industrialisation, broad-based black economic empowerment and through strengthening and expanding the role of the state in the economy”. That the economy would..
Continue reading…

Enjoyed this post? Share it!

 
 

Gold Market Update – 14th Feb 2017

LONG TERM TREND                            BEARISHINTERMEDIATE TERM TREND             BEARISHSHORT TERM TREND                          BULLISHVERY SHORT TERM TREND                 BEARISH Gold broke through the first downtrend channel line at 1215 at the start of the month and rallied as high as the 200 week MA at 1246, before retracing for the past few days, finding support in the critical 1218-1222 zone…
Continue reading…

Enjoyed this post? Share it!