‘Divert pensions to stave off IMF’

Rabobi

Executive Member
Joined
Dec 15, 2006
Messages
8,364
Ha! Robbed everything else blind, now the pension fund. It is nothing else! He's trying to sugar coat it, but that is the practicalities of the matter.
No shame.

And we all know what they will do if they start having issues paying pensions. Oh but then suddenly a goddamned National Pension Fund will be required.

Robbers and thieves.
NPF. DONT GIVE THESE CNTS IDEAS!
 

access

Executive Member
Joined
Mar 17, 2009
Messages
9,034
so much effort in taking more money not belonging to them.

no effort(actually the opposite) in stopping why they want to take it in the first place.

but hey, at least ramaphosa is protecting his position. its something to be hopeful for.. lol
 

air

Expert Member
Joined
May 19, 2005
Messages
2,532
You can resign, transfer it to a preservation fund, emigrate to a country with a favorable DTA and then withdraw tax free.
I must still read further up, but would appreciate your input.

Scenario - Male, 50 recently resigned - transfers pension to a preservation fund. Emigrates to UK, finds employment - can he transfer preservation fund to UK pension fund (or similar) and not pay any ZA tax, but liable for UK tax when he withdrawals?
 

Jola

Honorary Master
Joined
Sep 22, 2005
Messages
18,435
And then CR is shocked the rand and economy is collapsing...
Is he ? No so sure about that, it all seems pretty deliberate.

My rating for CR has dropped from 2/10 to 0/10, he is no better than JZ.

He may not be stealing as much in his personal capacity as JZ, but he may be causing even more damage.
 
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JayM

Expert Member
Joined
Oct 30, 2005
Messages
2,028
You can resign, transfer it to a preservation fund, emigrate to a country with a favorable DTA and then withdraw tax free.
Nope. You will pay tax at the standard early withdrawal rate (36% of lump sum exceeding R990000 + R203400) .
 

Sollie

Expert Member
Joined
Apr 20, 2005
Messages
4,275
Apparently even the Chinese are pulling out of South Africa:
As Ramaphosa misluk, draai China die krane toe

Al hoe meer Chinese sakelui verlaat Suid-Afrika weens kommer oor die land se ekonomiese penarie. En die onlangse uitlating van ’n Chinese regeringslid dat alle hoop op pres. Cyril Ramaphosa gevestig is, het bykans ongesiens verbygegaan, skryf DARREN TAYLOR

DIE Chinese ambassadeur in Suid-Afrika, Lin Songtian, se onheilspellende en gelaaide opmerking teenoor die nuusagentskap Reuters verlede week dat pres. Cyril Ramaphosa die land se laaste hoop is, is grootliks deur ander mediagroepe geїgnoreer.

Tog is hy die mees senior diplomaat wat Suid-Afrika se grootste handelsvennoot verteenwoordig. ’n Man wat praat namens ’n land wat verlede jaar R411 biljoen vir Suid-Afrika geleen het. Die land wat die laaste jare meer belegging as enige ander land beloof het om Suid-Afrika uit sy ekonomiese verknorsing te help.
Paywall.
 

Vrotappel

Bulls fan
Joined
Feb 22, 2005
Messages
17,089
Nope. You will pay tax at the standard early withdrawal rate (36% of lump sum exceeding R990000 + R203400) .
You will with the tax directive but if you have a favorable DTA on your side you can dispute the assessment and get your PAYE deducted back. For example look at article 19 of the DTA with Israel. Remember DTAs are international agreements and overrule local legislation.
 

Moto Guzzi

Senior Member
Joined
Apr 24, 2004
Messages
625
Seeing the symptoms of very high level corruption is still soled present(Evidence hidden), like extreme taxes and levies, huge admin costs all over the place, imploding economy, its difficult to agree with any decissions made under those circuimstances, unless the decisions clearly shows and it happens in practice, not just talking, that those circuimstances is being removed and results show. Your pocket will feel much lighter, thats the suresign to look for, there no other way out of this.
 
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