If the ANC government enacts asset prescription laws, what alternative investment options are available to individuals across all tax brackets and ages, both local and foreign, and which of these options are tax-efficient?You’ve raised a very pertinent question, and it’s one that investors are indeed justified in scrutinising. It’s crucial to recognise that the concept of prescribed assets is not novel in South Africa. In fact, it was extensively applied during the apartheid era.
While the full implications of prescribed assets are yet to be determined, it is anticipated that should the ANC implement such measures, they would likely affect pre-retirement investment vehicles, including retirement annuities, pensions, and preservation funds.
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