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

  • Medical scheme members should brace themselves for double-digit increases in contributions, as well as benefit cuts, next year, announcements by two large medical schemes this week indicate.

  • If the increase in your medical scheme contributions will outstrip your salary increase, you are facing a hole in your budget in 2017. This, combined with above-inflation increases in the likes of electricity and school fees, may tempt you to “buy down” to a cheaper medical scheme option, which may or may not be a good idea, depending on your healthcare needs.

  • Discovery Insure has launched a gap-cover policy for members of schemes administered by Discovery Health.

  • Your insurer must treat you fairly by making sure you fully understand the conditions of your policy before you sign on the dotted line and by avoiding clauses that place unreasonable or onerous obligations on you. If it doesn’t, it will get little sympathy from the Ombud for Financial Services Providers.

Tax news

  • Whether you submit your tax returns yourself or employ a tax practitioner, some planning and organisation could help to make the income tax process less painful this year.

  • Failing to pay provisional tax when you are obliged to do so can result in costly penalties, so if you have any doubts about whether you’re a provisional taxpayer or not, it’s best to check, particularly because the first provisional tax deadline (August 31) is fast approaching.

  • Are you at your wits’ end because the South African Revenue Service (SARS) can’t provide a satisfactory answer to a query? Perhaps you’re due to receive a tax refund, but, for some unknown reason, the amount is never paid into your bank account. The good news is that you have recourse to the Office of the Tax Ombud, an independent body accountable to the Minister of Finance.

  • You should be able to claim a tax deduction for retirement fund contributions against passive income such as interest income or royalties, the latest tax amendments propose.

Contact Info: Gauteng

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


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