Record-high fuel prices in South Africa Orlik (2022) states that South Africa has faced one of its toughest economic slumps, due to the COVID-19 pandemic. Lockdown restrictions had a massive impact on the economy of the country. Many consumers are still facing the financial impact and struggling to keep head above water. South Africa has also seen fuel prices hit a record-high in the first six months of 2022. Fuel prices are mainly affected by two components (BusinessTech, 2022): 1. The rand/dollar exchange rate 2. Changes to the costs of international petroleum products, primarily driven by oil prices Russia’s invasion of Ukraine has a massive impact on the fuel price increase as well. According to André Thomashausen, an emeritus professor of international law at Unisa, fuel prices could continue to rise to over R40 per litre, in the worst-case scenario (Prior, 2022). On top of this, consumers also must pay more for public transport, food and other services, all affected by the increase in fuel price. Consumer are facing even more pressure to survive in trying times. 10 tips to help your tank last longer There must surely be ways to save fuel during these tough economic times with fuel prices continuing to rise. Saving fuel is something we can all benefit from. After all, who would not want their tank of fuel to last longer? Vitality Drive helps clients save on fuel Click here to read more
If you would like to Apply for Vitality Drive or Do a comparative quote contact Ed in our Short-term department email: service@daberistic.com tel (011)658-1333 Source: Discovery Insure
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For our investors investing in Morningstar Managed Portfolios, click below to access the latest performance snapshot, market commentary and market performance summary: Morningstar SA Managed Portfolios Morningstar Global Managed Portfolios (USD) SA Q1 Portfolio Commentary Global Q1 Portfolio Commentary Market Commentary - SA and Global Market Performance Summary - SA and Global Source: Morningstar As you are aware, the tax filing season for individual non-provisional taxpayers has started 1 July 2022. We would like to remind you to submit your tax return in good time. According to SARS official media release: - over 3 million taxpayers, have been auto-assessed by SARS and will not have to file a tax return if they are satisfied with the outcome. - Non-Provisional taxpayers who did not get an auto-assessment and who are required to file a return can do so from 1 July 2022 up until 24 Oct 2022. - Provisional taxpayers as well as Trust submissions can start with filing a return from 1 July 2022 until 23 January 2023. Click the links below for SARS announcements: https://www.sars.gov.za/media-... Filing Season 2022 for Individuals is now open Our resident tax practitioners' feedback is that many of the auto assessments received by our clients require corrections and adjustments, so don't just simply accept SARS' assessment. Review it and consult a tax practitioner if you need help. Tax Certificates By now you should have received tax certificates from financial institutions in the months of May and June to assist with your tax filing. These include tax certificates from the medical aid, banks, life insurance companies and investment companies. Check your email inbox and junk folder, search for the keyword "tax certificate" to find relevant emails. Download the attached tax certificates in a folder on your local drive or cloud storage for tax filing. Discovery Health: The email from Discovery Health looks like the following: You may ask Discovery to redeliver your tax certificates and tax summaries through their WhatsApp service on your smartphone: Ask Discovery WhatsApp Service You can access your communication in the secure inbox available through www.discovery.co.za and the mobile app. Allan Gray Investment The email from Allan Gray looks like the following: To view and download your tax certificates, log into your secure online account https://www.allangray.co.za, then navigate to Reports >> Tax certificates once you've logged in.
If you have difficulties downloading your tax certificates, or require the service of a tax practitioner, email to service@daberistic.com and our team will gladly assist you. Help South Africa - Do your tax filing In partnership with Morningstar: What is the secret to successful investing? Many people think it is about picking winners. Some think it is about timing the market while others think it is pure luck. The theory of achieving investing success through picking winners is born out of the idea that investors can outsmart the market and create alpha. While this may seem like an obvious strategy, it’s a lot easier said than done. In reality, only a tiny handful of managers achieve this and even less so at the same time. In partnership with Morningstar: Researchers often look at sociodemographic variables, such as age or income, to make predictions about people's saving habits. But the decision to save, of course, extends beyond one's basic demographics - our unique psychological profiles spearhead the decisions we make, including decisions about our finances. What does behavioural science teach us about our problem with saving and how we can overcome it? In partnership with Morningstar: Let’s not beat around the bush – times are tough. Rising prices at the petrol pumps and the grocery store are alarming, particularly when your salary doesn’t seem to keep up with inflation. It feels like everything is getting more expensive and at the end of the day, this translates into less disposable income, and less money to save for a rainy day. |
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