In a recent speech at the Rand Club, Free Market Foundation CEO, David Ansara, suggested that South Africans should actively set about “state-proofing” their assets. In particular, according to Ansara, South Africans should be seeking every means to pay only so much tax as they are legally obliged to pay.
In a recent Momentum Connect TV interview, Professor Jannie Rossouw, a former deputy general manager at the South African Reserve Bank, spoke in similar vein, suggesting that civil society should not “wait for the government ”and should instead deal, as far as they can, with issues affecting their communities themselves.
We can only endorse these sentiments whilst at the same time suggesting that there are many perfectly legal avenues available for individuals and businesses to reduce their tax burden in particular.
These range from having a well-crafted financial and estate plan, retirement annuity and endowment investments as well as tax free savings, to offshore investments and structures.
Please contact your Maximus Adviser to see if you are taking full advantage of the many tax relief allowances and offshore investment opportunities.
