May 2024 As per Wikipedia, “…asnowcloneis aclichéandphrasal
templatethat can be used and recognised in multiple variants. The term
was coined in 2004, derived fromjournalistic clichésthat referred to
the number ofInuit words for snow”. So snow cloning, “It’s the
economy stupid” from Bill Clinton’s 1992 presidential campaign,
the easiest way to convey our current view of the Rand is: “ It’s
the range, stupid. ”Since the beginning of last August, almost all
ZAR.USD trading has taken place between an 18.60 – 19.20 range,
bouncing up and down between the level about 18 times.So it was that
we ended last month’s commentary writing, “… we are now at the
kind of levels (near the top-end of this year’s 18.60 – 19.20
consolidation) where there may be justification in waiting to see if
the Rand can recoup some of the recent pain, while exporters and
individuals looking to bring funds into SA, may wish to start doing
so.” We did indeed see the Rand recover over 5% from the worst
levels seen in April to Monday’s best level of 18.38. We have now
retraced to around 18.58 at the time of writing and whether we can
consolidate around these levels (or better) or if we drift back
towards the higher end of the range remains to be seen.Giving hope to
the Rand being able to remain relatively strong is last’s week soft
US data and, if upcoming releases are similarly weak, the resulting
USD weakness would benefit the ZAR.USD. The main concern being voiced
in terms of the Rand weakening is the uncertainty leading up to local
elections in 3 weeks.While some are hopeful of the possibility of an
ANC/DA coalition, there is similar negativity about the prospects for
an ANC/EFF arrangement.If either of these were to transpire, they
could be very significant events in the context of the country’s
next few decades.That, however, will be something to ponder in a
future mailer.
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Offshore Investment Guide South African residents who are over 18
years old and possess a green bar-coded ID or smart ID, along with a
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allowance of up to R11 million per calendar year ...
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Tax Ramifications of working abroad
https://currencypartners.co.za/business/apn-support/ In today's
globalised world, it's increasingly common for individuals to work in
one country while being paid by an employer based in another. This
scenario raises important questions about tax obligations...
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Navigating Capital Gains Tax For non-residents selling properties in
South Africa with the intention of moving funds abroad, understanding
the implications of capital gains tax (CGT) is paramount...
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After earning a distinction in Economics from Rhodes University,
Kirsten embarked on her professional journey at Allan Gray in 2017.
Beginning in a client and adviser-facing role within the Retail
sector, she swiftly transitioned to Institutional Operations,
overseeing the servicing and operational processes for all unitised
clients. Climbing the ranks, Kirsten excelled as a Senior Specialist
before joining 10X Investments as Retail Operations Manager. Known for
her innate ability to connect with others, Kirsten thrives on
cultivating and nurturing meaningful relationships. Her adaptable
approach enables her to seamlessly navigate diverse client needs, a
skillset that now serves her well at Currency Partners. In her current
role, managing a team of Business Consultants for the Western Cape
Region, Kirsten not only provides unwavering support but also
proactively identifies opportunities to enhance client experiences and
propel business growth. With a blend of analytical prowess and
solution-oriented thinking, Kirsten ensures her team consistently
delivers exceptional results while driving forward the company's
strategic objectives. https://www.fineandcountry.co.za/
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