National Elections, Rates Accounts and Tax Certificates

Author

Jurie de Kock
May 31, 2024

National Elections  

This week's national election appears to have gone well, with minimal unrest as some may have previously feared. 

Our clients living abroad reported that their voting process went smoothly, which was encouraging. 

As of this morning’s count, the voting trends seem to align with our expectations, as discussed during the election buildup. We anticipate the results by Sunday evening. 

On a personal note, I thought it would be much quicker to go to the voting station just before closing time. However, I was surprised it still took me 2 hours from 20:30 to 22:30 for my vote to be cast. The voting station allowed everyone who joined the queue before 21:00 to vote.

With my wife and I registered at two different places and both of us going at a time way past our almost 3-year-old son’s bedtime, I had to take him with me. Standing in the howling wind, he stood with me like a champion, not moaning about the long wait for me to cast my vote.

Entertained by the policeman and loads of people he waited patiently by my side the whole time. This vote was not only for my future but for the future of South Africa which he will one day be proud of calling home.

Pensioners over 60 can get Rates Relief on their Homes 

All pensioners, age 60 years and older, are encouraged to apply for the City’s financial support, where they may qualify for rates rebate of up to 100%. This includes residents who receive social grants or a monthly pension of no more than R22 000. 

This can also be something to remember when you have elderly parents. 

You can read more by clicking on the link below, which includes the online application process; 

February 2024 Tax Certificates 

The regular tax certificates for February 2024 year from the various product providers will start to roll out and be distributed from next week for the next few weeks. 

The dates for the SARS efiling tax season have yet to be released. This is expected to be announced around the 15th of June when our anticipation for the filing season for individuals and trusts is to open towards the 2nd week of July. The tax certificates will all be available well before then.

The repo rate remains unchanged at 8.25%

South African Reserve Bank (Sarb) governor Lesetja Kganyago announced on Thursday, following the central bank’s May Monetary Policy Committee (MPC) meeting.

In national elections week, this broadly expected move means the prime lending rate of local commercial banks also remains unchanged at 11.75%.

Kganyago said the decision by the MPC was unanimous.

Friday Food For Thought