www.DebtRecon.co.za
Budgeting and understanding
the contents of your payslip
means that YOU have control of
your hard earned money.
It’s not easy waking up at five on
a cold winter’s morning to go to
work, braving the traffic,
praying you arrive alive in a taxi
and walking distances to get
there. When you there, there is
sadly little appreciation for
your efforts, you have the
pressure of deadlines and
targets and the cherry on the
top having to deal with
workplace politics. ALL you have
to show for it at the end of the
month is YOUR PAYSLIP.
LET’S UNDERSTAND
YOUR PAYSLIP
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UIF:
1% FROM EMPLOYER AND 1% FROM YOU
WORKERS CAN CLAIM IF THEIR –
1) CONTRACTS ARE ENDED; OR IF THEY
2) EMPLOYERS ARE BANKRUPT;
3) ARE FIRED.
IT IS COMPULSORY TO BE REGISTERED WITH UIF
PAYE:
TAX APPLICABLE TO EMPLOYEES EARNING OVER
R4750:
MEDICAL AID :
COULD BE APPORTIONED (ASK YOUR
BROKER FOR ADVICE)
SAVING PLANS :
EG. GROUP SCHEMES YOU MUST UPDATE
THIS WITH ABROKER ANNUALLY
GARNISHEE ORDERS
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(REFER TO WORKSHEET)
S 129 LETTER ADVISING TO YOU TO CONSULT YOUR DEBT
COUNSELLOR TO REDUCE YOUR INSTALLMENT TO AN
AFFORDABLE ONE
DUE PROCESS HAS TO BE FOLLOWED FOR GARNISHEE
ORDERS TO BE LEGALLY ENDORSED ON YOUR SALARY.
SUMMONS MUST BE SENT TO YOUR CURRENT ADDRESS
.REMEMBER TO UPDATE YOUR DETAILS REGULARLY
JUDGEMENT IS TAKEN IF YOU HAVEN’T RESPONDED
OR IF YOU CONSENT TO JUDGEMENT
YOUR SALARY IS THEN GARNISHED
AVOID GARNISHEE ORDERS AND PROTECT YOUR CREDIT
RECORD BY GOING UNDER DEBT COUNSELLING
INDIVIDUALS FIND THEMSELVES IN DEBT BECAUSE THE
PROCESSES USED WERE NOT STRINGENT.
THE NATIONAL CREDIT AC T CAME INTO EFFECT TO HELP
OVERINDEBTED CONSUMERS RECOVER FROM RECKLESS
LENDING BY FINANCIAL INSTITUTIONS
THE ACT AIMS TO IMPROVE THE CREDIT RECORD OF ALL
INDIVIDUALS BY ALLOWING THEM TO REDUCE THEIR
INSTALMENTS AND THEREBY AFFORD TO PAY OFF DEBT ON
TIME
ALTHOUGH YOU PAY A REDUCED INSTALLMENT, YOUR
PAYMENTS ARE CONSISTENT BECAUSE THEY ARE
AFFORDABLE. YOUR CREDIT RECORD IMPROVES AND AFTER
YOUR LAST INSTALLMENT YOU CAN QUALIFY FOR CREDIT
AGAIN. DON’T MESS IT UP TRYING TO GET BY SEEK THE HELP
YOU NEED. ( REFER TO YOUR CREDIT REPORT)
DebtRecon
www.DebtRecon.co.za
OUR MISSION IS TO FIND AND IMPLEMENT
CALCULATED SOLUTIONS TO ALL CLIENT
DEBT RELATED CHALLENGES
OUR VISION IS TO OFFER A
SERVICE SECOND TO NON
BY PROVIDING
PROFFESSIONAL,
CALCULATED, HONEST AND
TIMEOUS DEBT
COUNSELLING SOLUTIONS
WITH INTEGRITY.
DEBT CONSOLIDATION: NO MORE LOANS WITH HIGH
INTEREST RATES AND LONG TERMS
ADMIN ORDERS : NOT ALL DEBT IS REDUCED. FEES ARE NOT
DISCLOSED UPFRONT. YOU HAVE A BAD CREDIT RECORD FOR
LIFE. YOUR DEBT CAN’T EXCEED R50 000.
DEBT REVIEW THE SOLUTION : HERE’S WHY
… THE DEBT REVIEW PROCESS CLEARS YOUR BAD
CREDIT RECORD AUTOMATICALLY AFTER 5 DAYS
Lower
Instalments_
reduced by up
to 60%
NO INTEREST FOR
EXTENDED PERIOD
www.DebtRecon.co.za
Secure your
living
expenses
One
Instalment
No
Blacklisting
No more legal
action, assets
secured
Improve
Your Credit
Record
No Judgements
Step 1
Step 2
• FREE CONSULTATION
• FREE DEBT ASSESSMENT
• Debt review process paid for
Step 3 by creditors
www.DebtRecon.co.za
• Negotiate with Creditors to reduce
Step 4 your instalments by up to 45%
• Reduce your Interest Rates, and no
Step 5 interest on RECKLESS LENDING
• Payment of ONE consolidated
Step 6 installment
www.DebtRecon.co.za
Live life the way
its meant to be
lived…
Stress
Free
www.Debt Recon.co.za
4TH FLOOR, SUITE 422
116 MUSGRAVE RD
MUSGRAVE OFFICE
TOWERS
TEL : (031) - 201 4301
(031) - 201 3015
TAX TIPS
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Spouse savings
No donations tax is payable when assets are donated
between spouses. There’s no risk therefore in giving your
spouse assets or, transferring money into your spouse’s
name.
Income splitting
In a family where a husband earns a big salary and a wife
earns nothing, the husband's investment incomes are taxed
at 40% after certain exemptions. However, by letting the
wife earn all the income she can use her tax exempt
threshold completely and then pay tax which will work
out at 18% tax after she uses her exemptions.
- Donations
Another way of avoiding tax is by making donations. Few
people realise and utilise the annual amount of money
which with is exempt from donations tax. Over a long
period this lessens your taxable income and reduces your
estate. The amount per tax payer currently works out to
about R100 000 and this can be doubled when a husband
and wife both use this by transferring wealth to their
children.