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Most small and medium-sized (SME) businesses will have been closed for at least six weeks by the time the lockdown is finally lifted.

The Covid-19 pandemic and resultant lockdown in many countries, including South Africa, has brought the global economy to its knees — and inevitably, many employers will need to contain costs by cutting salaries. Being hit with a salary cut or a retrenchment is something every employee dreads, but it’s important not to panic, and to manage the situation as responsibly as possible.

Key upcoming tax submission dates

When the severity of the COVID-19 outbreak became apparent to governments around the world and lockdown measures were being implemented, it was fairly easy for the population at large to know what to do. Stay at home. Self-isolate. Batten down the hatches.

At Marriott, our philosophy has always been to buy high quality, diversified, and resilient companies. We take a long term view: “Is this a company that we want to hold for 10 years or more?” This strategy has served our investors well through the current COVID-19 crisis and over the long term, as highlighted by the good performance of our First World Equity Feeder Fund.

We live in uncertain times, and the events of late are proof of this. Not only are these events uncertain but the timing of them is equally uncertain. In times like these, it’s important to talk about things that really matter. Benjamin Franklin said, “There are two things in life which are certain, death and taxes” and while we pay our taxes religiously every month, we fail to deal with the “death” side of things.

Your well-intended plans of going paperless as a business might ordinarily come to a grinding halt whenever you need to get someone's signature on a document—and even more so now with South Africa in a state of lockdown due to the COVID-19 pandemic, with remote or virtual working suddenly having become the new reality for most organisations.

There are still opportunities in residential property—if you do your homework, know where to look, and don’t spread yourself too thinly on the financing side.

The recent 50 basis point repo rate cut announced by the South African Reserve Bank gives many homeowners a little wiggle room, even in these very challenging times. The rate cut will leave homeowners with some surplus cash, providing some much-needed relief, given the economic constraints caused by COVID-19.

The COVID-19 pandemic is a first for the South African healthcare industry—and with testing and treatment for the disease now included under the Prescribed Minimum Benefits (PMBs) that medical schemes must cover, this novel virus could well prove a test of medical schemes’ response to an unpredictable and unprecedented global disease outbreak.

Our lives as we know them have been overturned in recent months as the COVID-19 pandemic takes root around the world. Markets globally have been hard hit, including in South Africa. Locally, the economy is estimated to be losing around R13 billion a day during the lockdown.

Table 4.4 Personal income tax rates and bracket adjustments

Most insurance policies are renewed automatically every year, often without us even noticing. Failure to properly review your life cover on at least an annual basis can lead one to be over-insured or under-insured. Over and above an annual review, life cover should be reassessed at every significant life stage and in the event of certain changes.

Once thought of as the preserve of the very wealthy, philanthropy is now a mainstream financial activity—and includes giving at a community level as well as supporting non-governmental organisations and non-profits.

In a time of crisis such as the current COVID-19 pandemic, people’s willingness to donate money increases significantly. However, the beneficiaries of these donations, such as funds and non-profit organisations (NGOs), are otten less than transparent about the tax implications for donors.