![Takealot sells fashion retailer Superbalist to private equity consortium](https://biz-file.com/c/2409/749826-64x64.jpg?5)
Subscribe & Follow
Jobs
- Head of Risk George
- Portfolio Manager - Credit Risk Johannesburg
- Junior Cost Estimator Pinetown
- Account Executive - Financial Lines Johannesburg
- Financial Manager Johannesburg
- Junior Bookkeeper and Administrator George
- Sales Associate Secunda
- Accounts Payable Cape Town
- Manufacturing Accountant Cape Town
- Junior Bookkeeper Cape Town
Non-retirement savings plan from 2015
An important amendment to the original proposal is that interest-free exemptions will be maintained in addition to the new system‚ good news for people such as retirees for whom interest income is important.
According to the Budget Review document‚ the new tax-preferred saving and investment accounts will be introduced after significant consultation with the savings industry‚ but further consultation will still take place.
The existing proposal is that individuals will be able to save R30‚000 a year and have a lifetime limit of R500‚000‚ increased regularly with inflation. This income can come from capital gains‚ savings‚ dividends and so forth.
Good news for those relying on interest is that with effect from 1 March‚ 2013‚ tax-free interest-income thresholds will be increased to R34‚500 (currently R33‚000) for individuals of 65 and over and to R23‚800 (R22‚800) for those younger than 65. However‚ the bad news is that these thresholds will not be adjusted for inflation in future years.
Source: I-Net Bridge
![](https://biz-file.com/b/1206/36520.gif?3)
For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.
We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.
Go to: http://www.inet.co.za![](https://cdn.bizcommunity.com/f/2408/Loeries-Tote-bag-competition.gif)
![](/res/img/s.gif)