How VAT increase impacts the insurance industry
Category: Personal Insurance
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How VAT increase impacts the insurance industry
How VAT increase impacts the insurance industry Let’s first take a hike back in time. In 1991, South Africa introduced Value Added Tax (VAT) to replace General Sales Tax (GST) as an indirect tax at a statutory rate of 10%, which increased to 14% in 1993. Fast forward 25 years. Facing a massive revenue shortfall…
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Make sure your cover is watertight
Make sure your cover is watertight Although DA leader Mmusi Maimane recently announced that the dreaded Day Zero drought situation will be moved forward to 2019, the water restrictions declared in 2016 remain in place, with personal use now limited to 50 litres per person per day. All these restrictions are undoubtedly having an adverse…
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Why clients need liability cover for driving
Why clients need liability cover for driving The Automobile Association of South Africa found that between 65% – 70% of the 11.4 million registered vehicles driving on our roads are uninsured. This means that the majority of drivers are placing themselves at financial risk if they are involved in an accident, says Johannes du Plessis,…
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Influencers and online content creators to beware of liability risks
Influencers and online content creators to beware of liability risks With the number of social media influencers and content creators increasing almost daily, more and more people run the risk of criminal and civil liability for their online activities. This according to Johannes du Plessis, Legal Advisor at RBS (Risk Benefit Solutions Pty Ltd), an…
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Keep your festive season jolly without the worry.
For most of us, the Christmas holidays are a time for giving and sharing. But beware, for others it’s also the perfect time for taking. Why do crime rates increase over the festive season? In the case of house burglaries, which increase by around 8% during December, the opportunity is greater when people are away…