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this is a shocker

I am from the uk and I am going to be an expat in South Africa for five years. Initially I got the standard bank signature account but it was terrible I didn’t get a private banker as promised and they don’t have visa infinite or signature which is why I also don’t bank with fnb and the staff at fnb were rude to me for being foreign. Then I got the nedbank private wealth and it provided me with the best banking experience. I wanted to get the discovery purple wealth suite but you have to be South African. The lastly I got the investec private bank with is good for investing

Tjo your first reason was mine too but I think I made a huge mistake... But I was so depressed bruuhh I was always in psycad ended up in hospital

You need to receive the income consistently for three months to qualify not a once off deposit

Mentioning tax was completely irrelevant. Company tax is 28%, I think they announced that it will go down to 27%. Personal expenses run through a business will not be deductible from your business’ taxable income. I mean you can inflate your expenses and declare a lower taxable income to SARS, but you will be caught out if they choose to audit you, if it’s not a legitimate deduction in terms of section 11a, that constitutes tax evasion and not tax avoidance. All your previously deducted personal expenses will have to be taxed, because it constitutes a Gross Income for you. You can own a business, and run your income through the business, then pay yourself a dividend which there’s a withholding tax of 20% but it is tax exempt in your hands. Effectively having paid 20% to SARS instead of the highest income tax bracket. But then the business is still liable for tax at 28% on taxable income for the period. The type of product you get from a bank depends on what you need and has nothing to do with taxes.

Eish the guy you summed it up quit excellent am sure Christian will approve!! Number one

You gonna die broke....clearly you don't know nothing about forex...

What kind of a camera are using

Tax is nothing to do with the Card dude lol Business tax is 28%, not 23% #Basics

Another thing ur just a hater stop hating on my black cards . U hv a long way to go u broke little boy

Talking shit tax is taken before it even goes into any account doesn't matter . I hv a private wealth account there's many ways to avoid tax bit ur just smoking something 🖕🏽

THAT IS A EVERY GOOD INFORMATION,TANX MAN

Seeing you double down on the tax mistake.

SARS is colourblind...

I'm academically excluded 🤦‍♂️ from uj too, to tell the truth I'm clueless not sure to appeal too ... I sacrificed my academic life to start up a business but didn't go well 😕 not necessarily business failure just the stress that comes with it.

I realized on my 5th year at UJ

PMG is nice lol , what I don’t like is development studies yoh.

I’m on academic warning , don’t even wanna appeal , I wanna drop out and I have a dessert business up and running and I’m honestly happier there. Yoh I don’t even like the course I’m doing , been miserable since first year.

Black card is for those that can afford the lifestyle of a black card, don’t get a black card when you don’t have the money and the assets for a black card simple. To avoid being shot in the food stay in your income and asset bracket simple. Oh yeah please don’t talk about black card and taxes because rich people don’t cry about because the money they make is much more than what they are being taxed, in countries like ours we have tax limits like if you get paid around 1,6 mill or more you get taxed 587k (plus the taxable stuff which we all know don’t really add up to much when it comes to the rich). This goes back to if you can afford or not and if you can’t stay away from looking like the rich of South Africa because it’ll be too much to handle.

The SARS part shouldn't be a disadvantage, everyone should pay tax and not everyone has the flexibility to join a company via a company

This information might have been useful when the video came out. Anyone can get that card now if you have an active cashflow. No need to qualify now. You just have to pay the R450 monthly charges and they give you the plastic. 🤷🏾‍♂️

That calculations can not be correctly. That 41k will be the maximum you can possibly pay. There are many deductions you can make use of to reduce your tax debt. You are also not taxed on the money that comes in your account, you are tax on the income you earned less deductibles which is not equivalent to money that comes in your account.

Black card of nie black card, u gona pay the same amount of tax

Yo what mic are you using on your tshirt and gear etc.

Use mirrors bo$$

And.... this is why many people are not private clients.... #Assests #youareanidiot #STRUCTURE

1k a month 4 maintainance

eishh that's your problem if you don't have a black card just leave don't come here and talk bad about it😂😂😂😂😂

A dude with a black card probably chowed your girl coz hai khona🤣🤣🤣🤣

Hai khona Boet....🤣🤣🤣

😂😂😂😂As for missing the sick test

😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂

That's why ur Chanel it's not growing bc u aint making sens 🚮 🚮 🚮 🚮 🚮

Nice qualty cam

No u didn't change my mind. The most important advice on this video is to not deposit a lot amount of money so u can avoid tax wich is only for people who deal with hard cash 😉.

Dude your content is amazing, you deserve more subscribers!

bro section 12J introduce by SARS is an option

I started to realise this when I was in Grade 8

Dope Video. Very informative.

SARS will tax you big time even if the R1.5 mil goes into the FNB easy account duuude!! not all rich or wealthy people pay tax, if anything some have sars paying them through tax rebate.

You went off topic. Black cards suck if you don't use it to its full potential plus it's benefits. Then you will suffer unnecessary costs. Black cards are nice for earning points. On international housing income or visits flight bookings purchases. Foreign income. Businesses efc

The best black card. Capitec. Lol. For fnb I use gold easy account

People need to stop that they taking somebody black cards especially when people like me don't live in kindergarten that s*** is lame and people really need to stop that

First thing I did the moment I started getting large sum monthly I move my income to business account and start paying myself by making a monthly payment to my personal account for my expenditures

does it even matter if hes right or wrong... he said it confidently so we will believe him....respect

You are being too general. Message here is: Moving money from your business account to your personal account to get a black card is bad. Agreed. But what if my salary falls on the black card level? I can only receive it through my personal account. May as well maximise my ebucks with a black card.

What if I have R60 000 000 n I want to open a black card..?

He is childish i must say that Stop pulling people down (negative energy)

Sars are now investigating your business accounting,lmao

What a load of nonsense. This guy doesn’t understand what he’s talking about. But then again at 22 you probably haven’t understood the real reason for going private...and it’s not flexing.