All things financial

Money Facts


FNB eWallet Pro 0

Posted on March 26, 2014 by Admin

FNB eWallet Pro is a payroll solution from FNB which enables employers to pay contract or casual employees easily and safely. There is NO need for employees to have a bank account – all they need is a valid South African cellphone number or a valid Visa prepaid card, which  the employer  can issue on site. This reduces the risk of theft and fraud through handling of cash

Benefits of eWallet Pro

  • You can set up electronic payments, create new recipients and maintain your payments instantly.
  • eWallet Pro makes administration and reconciliation easy and fast.
  • You can make individual payments or pay multiple workers effortlessly.
  • Through FNB Online Banking EnterpriseTM, you can create and pay eWallet holders in real-time, and they can access their money immediately. You can choose the time and day of the week you want the payment to be made.
  • We provide training on how to import the files necessary to pay multiple recipients simultaneously.
  • Online Banking EnterpriseTM offers you multiple user permissions, you have the ability to choose how you want your security set up.
  • eWallet Pro reduces the risk associated with cash on premises.
  • There are NO lost, stolen or fraudulent cheques.

Ways to apply

Enquiries

Call 087 736 3366

Tax and Medical Expenses 0

Posted on March 14, 2014 by Admin

Medical expenses can provide a perfectly legal measure of relief on your tax bills. In some cases, some or all of your medical bills may be deducted from your tax amount. But if you’re on a non-contributory medical aid scheme where your employer pays your contributions, you are not entitled to claim the medical deductions from your personal taxes.

Taxpayers over the age of 65 years are allowed to deduct all their medical billing fees, but for younger taxpayers a few conditions are in place to structure tax deductions. Medical billsmay be deducted from taxes once the total qualifying expenses exceed a set minimum amount. The set minimum amount is usually either R 1000 or 5% of your taxable income, whichever is the lowest.

Even more conditions are added to this when the taxpayer is married. Each spouse is allowed to claim for their own medical bills separately, but there is a greater chance of getting a tax deduction if only one spouse claims for all their medical bills. The general rule is that the spouse who pays the family’s medical bills will get the tax deduction.

It makes sense for a working married couples’ medical bills to be claimed by the spouse who can make the biggest tax saving. This is normally determined by considering each individual’s age, income and the amount of medical expenses.

There are instances where the conditions for tax deductions are lessened even though the taxpayer is below the age of 65. If you or a member of your family, including step-children, are physically or mentally disabled or handicapped according to the accepted definition, the set minimum required amount of the total qualifying expenses is lowered. This means that you can deduct the family’s medical billing fees from your taxes if the total exceeds R 500.

If your employer excluded your medical bill deductions upon calculating your monthly income tax payment, you should ask for a tax assessment to claim for deduction of your large medical bills. Most taxpayers submit a return at the end of every tax year for medical billing fees. But instead, you can provide proof of paying these contributions to your employer and ask for the deduction to be made when calculating your monthly tax payment in future.

How to get your Individual SARS Tax Number 0

Posted on March 14, 2014 by Admin
You can request your SARS tax number it from SARS in various ways:
  • You can visit your nearest SARS branch to get it. Please take along your ID.
  • You can get it on eFiling if you are registered as an eFiler. All you need to do is log on and check your number
  • Or you can request it from the SARS Contact Centre on 0800 00 7277. Please have your ID number on hand as SARS will have to authenticate who you are.
Please note:
SARS will not provide your tax number to another person, unless the person is your tax practitioner or has power of attorney to conduct your tax affairs.

Funza Lushaka Teaching Bursary 0

Posted on March 10, 2014 by Admin

 Funza Lushaka Teaching  Bursaries are available to enable eligible students to complete a full teaching qualification in an area of national priority. Recipients of the bursary will be required to teach at a school or provincial education department for the same number of years that they receive the bursary. Qualified recipients of the bursary can apply for appropriate public school positions with theprovincial education department (PED) of their choice. The PED concerned will determine whether there is a suitable post available. If there is not, the applicant will be offered employment in a PED that does have suitable vacancies.

Admission criteria

The bursary is only awarded to South African citizens. Applications will not be considered unless the applicant has a valid South African ID number. Applicants for thebursary must already have been accepted into an appropriate study programme at a recognized higher education institution. Applicants also need to meet certain admission criteria of the institution and they must also meet the national selection criteria for the Funza Lushaka bursary.

Selection criteria include the following:

- The applicant’s academic ability;

- Eligibility for an approved degree or PGCE in one of the priority areas;

- Commitment to a teaching career, which includes: interest in working with young people; enthusiasm for a professional career in teaching; readiness to face and surmount difficult challenges and personal integrity;

- Commitment to teach in any school to which a student may be appointed by a PED.

Everything else being equal, selection should favour candidates from rural areas, candidates who wish to teach in rural areas and candidates whose financial position would otherwise exclude them from enrolment for a teaching qualification. The bursarywill only be awarded if one of the priority area specialization subjects is included as ateaching subject in your qualification.

Please note that those who already have other teaching qualifications do not qualify for this programme.

Programmes to be funded
Three types of qualifications can be funded. These are shown in the table below. The qualification must include subjects which will allow the student to specialise as ateacher in at least one priority area (see next section below).

Undergraduate studies 

Undergraduate studies

Graduate studies

4-year Bachelor of Education degree (B Ed), specialising in Foundation Phase (Grade R – 3), Intermediate Phase (Grade 4 – 6), Senior Phase (Grade 7 – 9) and FET Phase (Grade 10-12). 3/4 -year Bachelors degree e.g. Bachelor of Science, Bachelor of Engineering, Bachelor of Arts, Bachelor of Computer Science, Bachelor of Technology in fields suitable for admission to the one-year Postgraduate Certificate in Education (PGCE). Application for funding for a Bachelors degree implies that the applicant commits to enrol for the PGCE upon completion of the undergraduate degree. One-yearPostgraduate Certificate in Education (PGCE) for graduates whose degrees include majors in priority areas.

In addition to specialising in a priority area, you will also need to specialise in a phase for the B.Ed and PGCE teaching qualifications. If you prefer teaching younger children, you could specialise in Foundation Phase (Grade R – 3) or Intermediate Phase (Grade 4 – 6).On the other hand, if you prefer teaching older children you could specialise in Senior Phase (Grade 7 – 9) or FET Phase (Grade 10 –12). Some universities offerqualifications which combine specialisation in the Foundation Phase and Intermediate Phase, or the Intermediate Phase and Senior Phase, or the Senior Phase and FET Phase. These combined qualifications are also acceptable.

Priority areas

The priority areas that are currently funded are indicated in the table below. These areas could be reconsidered from year to year.

Foundation Phase
(Grade R- 3)

Intermediate
Phase
(Grade 4 – 6)

Senior
Phase
(Grade 7 – 9)

FET
Phase
(Grade 10 –12)

• Foundation phase specialisation • African Languages
• English Language
• Mathematics
• Natural Sciences
• Technology
• African Languages
• English Language
• Mathematics
• Natural Sciences
• Technology
• African Languages
• Agricultural Sciences
• Agricultural Technology
• Civil Technology
• Computer Applications Technology
• Electrical Technology
• Engineering Graphics and Design
• English Language
• Information Technology
• Life Sciences
• Mathematics
• Mathematical Literacy
• Mechanical Technology
• Physical Sciences

Nedbank Debt Consolidation 0

Posted on March 10, 2014 by Admin

Are you struggling to pay off all your debts and debtors are constantly calling you ? Nedbank is there to help you out of your financial mess. Apply for a Nedbank Debt Consolidation loan of up to R120 deposited into your salary account with  12, 24, 26, 48 OR 60 MONTHS to pay.

Nedbank Debt ConsolidationNedbank Debt Consolidation Loan is for you if you have :

  • You have high credit card expenses.
  • You have lots of store cards and accounts.
  • You have unpaid debts.
  • You may have some personal loans.
  • You’re scared to open the mail at the end of the month.
  • Companies may have started to call you to demand repayments.
  • You spend more than you earn.

Call Nedbank on  0860 103 582 and Get more information on Debt Consolidation, its advantages and how you can get out of this financial mess.

TLC Mobile 0

Posted on March 10, 2014 by Admin

Apply for a Cellphone Contract with TLC Mobile and get convenience of a FREE handset.  Clients are placed on South Africa’s Largest Cellular Network via a Vodacom SIM Card .

TLC Mmobile contracts offer clients FREE Handsets, FREE Delivery, FREE Sim and Connection INCLUDING AIRTIME. Apply now. SMS yebo to 32445 or email yebo to yebo@tlcmobile.co.za and a consultant will call you back. View our SPECIALS on ourwebsite. Change from PREPAID to TLCmobile and SAVE! Powered by Vodacom.

Excellence Family Funeral Plan 0

Posted on February 18, 2014 by Admin

Our Excellence Family Funeral Plan provides money for your funeral, and funerals of your dependents. By paying as little as R70 every month, you can make sure of a dignified burial for you and your loved ones.

Our policy automatically includes benefits such as:

  • insurance for your family, without premiums, for 5 years after your death
  • our support line – Assupol On-Call
  • affordable premiums – which you can increase yearly to increase your benefits

Other benefits that you can add:

  • income for your family for 6 months after your death
  • a double pay-out on accidental death
  • cash back in your pocket every 4 years
  • insurance for your family, without premiums, for the life of your policy after your death

Absolute Advantage Family Funeral Plan

This funeral plan includes more than just funeral benefits. We believe that you must benefit from your policy while you are alive as well.

A choice of funeral cover for yourself, your spouse and your children between R3 000 and R20 000 is available.

The following optional benefits are available:

  • No Claim Bonus benefit after 4 claim-free years.
  • Accidental Death benefit is available for all lives insured.
  • Premium Waiver – premiums cease when the main life insured dies.
  • Family Income Benefit – R1000 per month is payable for 6 months after the death of the main life insured.
  • You may choose for your premiums and benefits to increase every year. Premiums will increase by 10% every year and benefits by 6% every year.
  • Assupol On-Call offers services such as trauma counselling, medical advice, HIV/Aids information advice line and the transportation of the deceased.
  • Extended family members up to the age of 79 years may be added to the funeral plan.

The Paid-Up feature is automatically included at no additional cost if the policyholder is younger than 55 years at the start of the policy. If this feature applies for a policy, premiums will no longer be payable after the policyholder’s 65th birthday, and all benefits remains in force.

NOTE: Benefits are provided for life and will not cease once you turn 65, retire or leave your present employment.

Contract provisions will apply

Clientèle Funeral Dignity Plan 0

Posted on February 18, 2014 by Admin

Valuable Funeral cover is available from R90 per month. The Clientèle Funeral
Dignity Plan pays out a Cash lump sum in the event of death. Your family can use
this money to pay for funeral expenses or to cover additional costs as they may
arise during this difficult time. We do not pay for specific funeral arrangements.
Choose the cover that suits your needs at a premium you can afford by referring
to the rates table on page 4.
PAYS WITHIN 24 HOURS
In the unfortunate event of death, the last thing your family should worry about
is money for the funeral. That is why the Clientèle Funeral Dignity Plan pays out
within 24 hours of receipt of relevant documentation. Yes, all valid claims are
paid within 24 hours, including weekends and public holidays.
R200 FREE AIRTIME WHEN YOU CLAIM
We will send R200 FREE airtime on approval of the claim to help with
the necessary funeral arrangements.
ADD UP TO 13 PEOPLE ON 1 PLAN
You can choose cover for yourself, your spouse, 3 children and 8 extended
family members.
FAMILY COVER
It’s affordable. A family of 5 could receive more than R110,000 cover for less
than R2 per person per day.
INCLUDED BENEFITS
• Unveiling benefit
• Grocery benefit

Proof Of Residence 0

Posted on February 07, 2014 by Admin

Often Banks require proof of Residence according to FICA.You must have a South African residential address. The following documents containing your full name and/or initials, surname and your complete residential address.

Emailed or posted to your residential address; less than 3 months old:

  • Rates and taxes (utilities) account
  • Cellphone account (e.g. Cell C, MTN, Vodacom, etc.)
  • Retail credit account (e.g. Edgars, Woolworths, etc. Over-the-counter accounts are not acceptable)
  • Telkom account (or any other fixed-line provider account)

Posted to your residential address; less than 3 months old:

  • Bank statement/ATM printout/Client profile
  • Third-party account statement (e.g. doctor’s account, lawyer’s account, MultiChoice statement, etc. Over-the-counter statements are not acceptable)
  • Student registration letter from a tertiary institution
  • Body corporate/Share block correspondence

Posted to your residential address; less than 6 months old:

  • Home loan statement from another bank (over-the-counter statements with the bank’s official stamp are acceptable)

Posted to your residential address; less than 12 months old:

  • Motor vehicle licence document or renewal notification/Traffic fine
  • Insurance policy document
  • TV licence/card

Less than 12 months old:

  • IRP5 certificate issued by your employer
  • Rental/Lease agreement (certified copies are acceptable)
  • SARS tax return, letter or any other official document issued by SARS on their letterhead

Less than 3 months old:

  • Fica Declaration form – This form can be used if you are unable to provide any other type of proof of residential address listed here, and you live with someone who can provide proof (e.g. spouse, family, etc.).
  • Employer confirmation letter – Can only be used by employees who are living on their employer’s premises. It must be on an official company letterhead with your full name, surname, ID number, confirmation of employment and residential address, confirming the address is on your employer’s premises, the date when this letter was issued, and must include the signature of your employer.
  • Councillor letter – Can only be used if you’re employed (part- or full-time) and a pensioner (government or private) and no other document available. It must be on the municipality’s letterhead with your full name, surname, ID number and residential address, the date when the letter was issued, an official stamp from the municipality, and the name and signature of the councillor who completed and certified the letter. An original salary slip less than 3 months old is needed to prove employment. An original pensioner letter addressed in your name, confirming that you’re a pensioner, is needed to prove pensioner status.
  • Tribal village/Traditional authority letter – Can only be used if you’re employed (part- or full-time) and a pensioner (government or private) and no other document is available. It must contain your full name and surname, the name of the designated official (tribal chief or leader), what legislation, ordinance or regulation authorises the designated official, confirmation by the designated official that you live on the communal property under control of the traditional authority, the date when the letter was issued, and the signature and stamp of the designated official. An original salary slip less than 3 months old is needed to prove employment. An original pensioner letter addressed in your name, confirming that you’re a pensioner, is needed to prove pensioner status.

Documents issued in the name of a trust

We need the following when a proof of residential address document is issued in the name of a trust:

  • Letters of authority as issued by the Master of the High Court
  • Fica Declaration form (see below) to be completed by any of the listed trustees
  • Copy of the identity document of the trustee who completed the Fica Declaration form
  • Original residential address verification document (that matches the acceptable documents listed above)

Capitec Bank Account for under 16 0

Posted on February 07, 2014 by Admin

You must have a South African residential address. We accept any of the following documents containing your full name and/or initials, surname and your complete residential address.

Emailed or posted to your residential address; less than 3 months old:

  • Rates and taxes (utilities) account
  • Cellphone account (e.g. Cell C, MTN, Vodacom, etc.)
  • Retail credit account (e.g. Edgars, Woolworths, etc. Over-the-counter accounts are not acceptable)
  • Telkom account (or any other fixed-line provider account)

Posted to your residential address; less than 3 months old:

  • Bank statement/ATM printout/Client profile (from a bank other than Capitec Bank or available over the counter with the bank’s official stamp. Must be an active account. It’s not necessary for the bank’s official stamp to be on the ATM printout)
  • Third-party account statement (e.g. doctor’s account, lawyer’s account, MultiChoice statement, etc. Over-the-counter statements are not acceptable)
  • Student registration letter from a tertiary institution
  • Body corporate/Share block correspondence

Posted to your residential address; less than 6 months old:

  • Home loan statement from another bank (over-the-counter statements with the bank’s official stamp are acceptable)

Posted to your residential address; less than 12 months old:

  • Motor vehicle licence document or renewal notification/Traffic fine
  • Insurance policy document
  • TV licence/card

Less than 12 months old:

  • IRP5 certificate issued by your employer
  • Rental/Lease agreement (certified copies are acceptable)
  • SARS tax return, letter or any other official document issued by SARS on their letterhead

Less than 3 months old:

  • Fica Declaration form – This form can be used if you are unable to provide any other type of proof of residential address listed here, and you live with someone who can provide proof (e.g. spouse, family, etc.). Get this form at any of our branches or below. The declarer must complete this form, include a copy of their identification document and an original address verification document issued in the name of the declarer that matches the acceptable documents listed here.
  • Employer confirmation letter – Can only be used by employees who are living on their employer’s premises. It must be on an official company letterhead with your full name, surname, ID number, confirmation of employment and residential address, confirming the address is on your employer’s premises, the date when this letter was issued, and must include the signature of your employer.
  • Councillor letter – Can only be used if you’re employed (part- or full-time) and a pensioner (government or private) and no other document available. It must be on the municipality’s letterhead with your full name, surname, ID number and residential address, the date when the letter was issued, an official stamp from the municipality, and the name and signature of the councillor who completed and certified the letter. An original salary slip less than 3 months old is needed to prove employment. An original pensioner letter addressed in your name, confirming that you’re a pensioner, is needed to prove pensioner status.
  • Tribal village/Traditional authority letter – Can only be used if you’re employed (part- or full-time) and a pensioner (government or private) and no other document is available. It must contain your full name and surname, the name of the designated official (tribal chief or leader), what legislation, ordinance or regulation authorises the designated official, confirmation by the designated official that you live on the communal property under control of the traditional authority, the date when the letter was issued, and the signature and stamp of the designated official. An original salary slip less than 3 months old is needed to prove employment. An original pensioner letter addressed in your name, confirming that you’re a pensioner, is needed to prove pensioner status.

Documents issued in the name of a trust

We need the following when a proof of residential address document is issued in the name of a trust:

  • Letters of authority as issued by the Master of the High Court
  • Fica Declaration form (see below) to be completed by any of the listed trustees
  • Copy of the identity document of the trustee who completed the Fica Declaration form
  • Original residential address verification document (that matches the acceptable documents listed above)

Identification document

South African citizens

  • Valid South African ID book (i.e. the green, barcoded identity document issued by the Department of Home Affairs; temporary ID book not accepted), valid South African ID card or valid South African passport

South African citizens (minors under 16 years)

  • Valid birth certificate (minors older than 16 years need a valid South African ID book), valid South African ID card or valid South African passport. A certified copy of the birth certificate is acceptable
  • Fica Declaration form (to be completed by parent/legal guardian), including a valid identification document of the parent/legal guardian

Foreign nationals

  • Valid foreign passport
  • Valid permanent residence permit (or temporary work permit)
  • Original salary slip or employment letter on a company letterhead (less than 3 months old)

Foreign nationals (minors under 16 years)

  • Valid foreign passport
  • Valid permanent residence permit
  • Fica Declaration form (to be completed by parent/legal guardian), including a valid identification document of parent/legal guardian

A note on all documents

  • Original documents are needed to verify identity and proof of a South African residential address. We will scan and keep all verification documents for record purposes. We don’t accept certified copies of the original documents, except in the case of rental/lease agreements and marriage/birth certificates
  • Temporary ID books or passports are not acceptable
  • A valid version of the document means that it must be current and unexpired
  • Fica requires that all client information must be correct and up to date. It is therefore important that you notify us of any changes to your identity or residential address details. Visit your nearest branch with your identification document and original proof of residential address to update your details


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