Controversial former University of the Witwatersrand SRC president Mcebo Dlamini was denied bail in .
Nature brings about seasonal changes, but investor sentiment and the fear-or-greed syndrome too often dictate why people change their investments.
Government spending as detailed in the budget affects everyone, but only about a quarter of all employed people earn enough to pay tax. This year there was income-tax relief for everyone.
Liability for tax starts for people younger than 65 years at R43000 and for those older than 65 it is R74000, which was previously R69000.
Rebates have been increased that help limited tax saving. They range from R540 a year if you earn between R50000 and R100000 to anything up to R4655 at R500000 a year.
Interest exempt from tax has been increased slightly to R19000 a year for those under 65 and to R27500 for those older than 65.
A welcome change is the simplified tax regime being introduced for small businesses with a turnover of less than R1million a year. This new system will not apply to professional services nor certain service-type businesses.
The compulsory VAT registration threshold for businesses will be increased from a yearly turnover of R300000 to R1million, effective next year.
I feel sorry for investors who react to information they read and hear from different sources because they must be confused.
In October South Africa and the world was in the middle of the greatest economic boom since the Second World War. It is amazing how things have taken a turn for the worse since the mid-term budget back then. Some of these influencers include increased interest rates, international investors selling bonds and equities this year, the energy crises and political leadership and uncertainty coupled with charges of corruption. This caused consumer and business confidence to plummet.
But in the past few weeks the markets have begun to bounce back and if you remained focused and held on to your long-term strategy, you would have begun to see a recovery in your own portfolios.
I always advocate - and cannot over-emphasise - that investors must have a long-term investment plan and stick to it come what may, unless they have experienced big changes to their circumstances.
When it comes to creating wealth, time and equities are two of your best friends.
l The writer is chief executive of Pioneer Financial Planning. Visit www.pioneer.co.za or e-mail firstname.lastname@example.org for more information.