50% cuts for the vulnerable
Sassa grant beneficiaries such as pensioners, people with disabilities and students will also have some reprieve from high transport costs with the KlevaMova campaign.
As South Africans face tough economic times, the Gauteng Household Travel Survey shows that almost 60% of households spend more than 10% of their income on public transport.
The move will hopefully put more bucks back into the pockets of vulnerable groups.
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The Citizen
an hour ago
- The Citizen
Rental yields, tax benefits, residency lure South Africans to offshore property
More South Africans are hedging their bets on offshore property, lured by benefits such as attractive rental yields, tax benefits, and the opportunity for a second residency, according to the Seeff Property Group. These investments are also seen as a currency hedge, particularly in stable, dollar-based economies like Dubai and Mauritius, enabling investors to earn hard currency, grow wealth, and diversify their assets. Dubai has for example seen property transaction volume growth of 22.5% and 40.1% in value, while prices are up by 15.6%. Mauritius property prices grew by around 27.19% (late 2023), and about 22% as at early this year. Nombasa Mawela, licensee for Seeff Dubai, says the fast-growing expat population continues to drive high demand for rental investments with an average yield of around 6.31% on top of the opportunity to obtain residency, subject to a minimum investment level. Mauritius rental yields are typically 3 – 7%. Most opportunities offer attractive payment plans which are well received, says Nombasa. South Africans are also leveraging the annual allowance that they can take offshore (R11m, being R1m discretionary, R10m foreign capital allowance). While requiring a higher level of investment, residency in Dubai (UAE) and Mauritius is also an attraction, offering easier access to the EU, UK, and USA. Dubai – fast growing and luring more South Africans Although South Africans continue heading to Dubai and there are now more than 2,400 South African-affiliated companies present, you do not have to invest with the view to relocating or obtaining residency, says Nombasa. Aside from the favourable tax benefits (no personal income tax, Capital Gains Tax, or property tax), investors are drawn to the lucrative rental market. South Africans are opting to invest in the new developments, often making use of the attractive payment plans. Rental services are often part of the deal which adds convenience. South Africans typically target the AED 1m – 3m bracket (approximately R4m – R12m), mostly apartments and townhouses with 5 – 8% rental yields. For a Golden Visa with a 10-year renewable residency, a minimum of AED 2m (R9.8m) into property is required, she says. South Africans can open bank accounts in Dubai and finance is also available. Mauritius – increasingly popular for relocations from SA Severine Dalais-Pietersen, licensee for Seeff Mauritius, says the close proximity and direct flights to the island has made it a popular destination for relocations. It also offers a favourable tax regime (no inheritance tax, flat 15% income tax, although CGT is being introduced). Government-approved schemes for property investment by foreigners are a popular option as they are high quality, and located across the island, usually in high demand tourist areas, thus offering the added incentive of earning good rental income streams. The close proximity to South Africa makes it an attractive option, says Severine. Prices start at MUR 10m/R4m. A minimum USD 375,000 investment is needed to qualify for a Permanent Residence Permit. There is usually a payment plan for the developments. South African investors can also get finance in Mauritius subject to certain conditions, usually including a large deposit. Namibia – an attractive holiday or retirement property option Neighbouring Namibia is a popular holiday destination, and more people are thinking of retiring there, especially in the coastal towns such as Swakopmund, according to Maria Esterhuysen, licensee for Seeff Namibia. Property prices are very similar to South Africa, and the currencies offer similar value. There is no Capital Gains Tax on private sales, and the proceeds can be freely repatriated. Prices from N$ 800,000 – N$ 2,500,000 on average, but there are many luxury options ranging to around N$ 8,000,000 with some exceptions above this. The Namibian government has added a Retired Persons option for 60-plussers with a considerable permanent income from an external source. There is also a Permanent Residence option for those with considerable wealth of at least N$ 4m net worth (and be N$ 2m in property, and the rest in a Namibia bank account). Issued by Gina Meintjes
The South African
2 hours ago
- The South African
GOOD news for September 2025 SASSA Old-Age Grants
September 2025 SASSA Old-Age Grants will go ahead as usual in less than three weeks' time. Better still, after several back-to-back five-week cycles, the wait for September 2025 SASSA Old-Age Grants won't be as long. September 2025 SASSA Old-Age Grants are payable to beneficiaries on Tuesday 2 September 2025. Although unconfirmed by the agency, these could be the last before a minor increase that typically takes place annually in October. While unconfirmed, October 2025 could see a nominal SASSA grant increase to keep pace with the rising cost of living. Image: File Nevertheless, all South African Social Security Agency grant recipients are urged to authenticate their accounts before September to avoid any payment delays. Back in June, the agency announced more stringent income verification processes to eliminate fraud and 'wastage.' As such, more than a quarter of a million 'core' grant recipients were investigated for breaching the income threshold. These clients received a text from SASSA, asking them to report to a branch office with particulars that verify their income. The agency is now able to better cross-reference income data from third-party sources. Image: File Moreover, to avoid any SASSA grant payment disruption, the agency added a fourth payment date. This will typically fall on the first Friday of every month for the rest of 2025. And SASSA CEO Temba Matlou asked all SASSA senior management to step up and assist beneficiaries with all income verification procedures. The agency also shared information on illegal SASSA grant deductions that have been plaguing Older Person recipients. It explained what may look like a R165 monthly deduction could be coming from a nefarious funeral policy provider posing as SASSA. Therefore, the government entity confirmed that it will never make a deduction from your grant monies with authorisation. A fourth payment date was introduced to stop delays following income verification. Image: File Allow us also to remind you that the asset and income limits enforced by the agency have quietly increased in 2025. Older Person annual income may not exceed R107 800 (single) and R215 760 (married). These figures have been upped from R101 640 and R203 380, respectively. Which is way more than inflation, at 20%. Likewise, a SASSA Older Person beneficiaries' assets should not be valued higher than R1 524 600 (single) R3 049 200 (married). Once again, this is up from R1 438 800 and R2 877 600, respectively. SASSA grants can be deposited in your personal bank account or through the Postbank Gold card. Image: File Nevertheless, retiring South African residents are turning 60 every day, so how can they apply for September 2025 SASSA Old-Age Grants? Well, there are no online application forms, everyone must apply in-person at a SASSA branch. You may get a friend or family member to apply on your behalf if you have a doctor's note. Be sure your present the following information to SASSA: Bring along your official RSA identity document (ID). Provide all documents proving your marital status. Supply a proof of residence (a utility bill with your name on it). Show all proof of income and/or financial dividends. Bring any information regarding assets, valuation of property. You must declare any private pension in your name. Provide a valid three months' statement certified by your bank (no older than three months'). Unemployment Insurance Fund (UIF) membership book, or discharge certificate from your previous employer. A copy of your will, and first and final liquidation and distribution accounts if your spouse has passed away in the last five years. Elderly beneficiaries are warned against any funeral policy providers claiming to be from SASSA, as the agency does not offer such services. Image: File The agency pays grants to 45% of the population, so new September 2025 SASSA Old-Age Grants will typically only be processed in a three-month wait period. Nevertheless, if you are unsuccessful, you have 90 days to lodge an appeal with the Department of Social Development (DSD) by clicking HERE. Beyond September 2025 SASSA Old-Age Grants, here are the remaining payment dates for the rest of the year. Thankfully, each falls on a four-week cycle: OCTOBER – Thursday 2 October 2025 (potential increase unconfirmed) (potential increase unconfirmed) NOVEMBER – Tuesday 4 November 2025 DECEMBER – Tuesday 2 December 2025 And a reminder if your September 2025 SASSA Old-Age Grants are questioned and you're found to be over the income limit, you must pay all the money back. SASSA offers three repayment systems. One is a direct lump sum. The second is debit order which runs off your personal bank account each month. And, finally, a payment plan can be arrange. But it will accrue interest and end up costing you more in the long run. Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1. Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news.
IOL News
3 hours ago
- IOL News
Sars notice for non-residents: key tax filing insights
Discover the latest updates from Sars regarding non-resident taxpayers and learn how to confirm your tax residency status before the filing deadline. Image: Supplied On 28 July 2025, the South African Revenue Service (Sars) issued another notice specifically aimed at South Africans abroad concerning their tax residency status. It deals with how an individual who is a non-resident taxpayer on the Sars system should complete their tax return this filing season. While Sars announced enhancements to this year's ITR12 return to make it easier for non-resident taxpayers to declare South African-sourced income, it does not address the critical issue of what will happen if their Sars profile does not match their non-resident tax status. There are many South Africans abroad who think they are non-resident taxpayers, but this status is not reflected as such on the Sars system. With South Africa's residency-based tax system, different tax rules apply to residents and non-residents, with a significant difference in tax liabilities. Therefore, expatriates should urgently confirm their tax residency status before they submit their returns this filing season. This is crucial because even taxpayers who previously ceased tax residency by following the formal process of financial emigration and have records to show it, now find the Sars system may have reverted them to being tax residents. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Next Stay Close ✕ There are various reasons as to why one's status can be reverted, but the important takeaway for expatriates is that Sars will tax them according to the tax residency status on record. South Africans living and working abroad should not assume they are non-resident if that is not what is reflected on their eFiling profile. The correct legal document expatriates must have in their possession is the Sars issued Non-Resident Tax Status Confirmation Letter, introduced in 2021. This letter confirms cessation of tax residency, indicating the effective date of ceasing tax residency in South Africa. With this letter, you will protect your worldwide income from being taxed in South Africa. The Sars note serves as a timely reminder to expatriates to check their non-residency tax status. With the filing deadline of October 20, 2025, this allows non-resident taxpayers enough time to obtain the Non-Resident Tax Status Confirmation Letter should their tax status on eFiling reflect incorrectly. With this letter in hand, you will be sure to file according to your status. South Africans abroad who are uncertain of how to check their status should seek assistance from tax specialists. Completing a tax diagnostic as a first step will provide an all-encompassing review of the taxpayer's tax affairs and reveal any inconsistencies. If your status is indeed correctly reflected as non-resident, you can proceed with submitting your tax return, either a zero return or a return declaring your South African-sourced income for the year of assessment. Should the system incorrectly show your tax residency status, follow the process of requesting your Non-Resident Tax Status letter with a simple submission to Sars. Once issued, your details will be corrected on the Sars eFiling platform.
