Garach & Garach

GARACH & GARACH is a multi-disciplinary firm of Financial Advisors who provide professional commercial and financial solutions to quality conscious clients in a cost effective manner.

The firm has a vision to be the professional service provider of choice that rapidly and consistently secures superior delivery.


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Personal Finance news

  • It's been a tough year for many South African businesses, and perhaps your employer has decided against giving the staff year-end bonuses, or is paying a reduced bonus. If you are fortunate enough to receive a substantial bonus on top of your regular salary, think about how it could help you and your family financially over the long term before blowing it on expensive gifts, lavish entertaining or a luxury summer holiday.
  • The government this week set the wheels in motion to amend the National Credit Act (NCA) to allow for the criminal prosecution of the directors of credit-provider companies that contravene the Act. The aim is to put an end to reckless lending. The amendments are designed to provide for "simpler and more rigorous enforcement of the Act", according to a statement issued by the Portfolio Committee on Trade and Industry this week.
  • Your retirement fund is likely to be compelled to offer you a default pension or annuity at retirement. But you will have to actively select either the annuity offered or a retail annuity, or your retirement from the fund will be deferred.
  • Independent asset managers managing popular multi-asset unit trust and retirement fund portfolios have, on average, returned two percentage points more than managers within bank and life assurance companies, research by the investment management division of a large investment company shows.

Tax news

  • Retrenchment is doubly painful if you receive a meagre payout and have to supplement your income from your retirement savings. This is how pre-retirement withdrawals are taxed.
  • Sars Commissioner Tom Moyane has praised the "selfless" men and women who made SA's tax season a success.
  • The South African Revenue Service is cautioning non-provisional taxpayers that they only have 3 days left to file their taxes.
  • Some branches of the South African Revenue Service will be open on Saturday on November 12 and 19.

Contact Info: Gauteng

Telephone: +27 11 782 7842
Fax: +27 11 782 4477


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