Monthly Archives - January 2015

Onttrekking uit my aftree-fonds

Ek is van mening dat die aftree-bedryf in die meeste gevalle nie geslaagde is in sy doel om mense te help aftree nie. Een van die groot redes hiervoor is die opsie wat mense het om hulle aftree-geld by verwisseling van werk te kan neem as ’n onttrekking. Die rede waarom ek so sê lê op, 1. ’n belasting vlak en 2. ’n lewensstyl vlak.

1. Verstaan die belasting konsekwensies van ‘n onttrekking:

‘n Paar jaar gelede het die regering die vergunning gemaak dat indien iemand retrench word voor die ouderdom 55 dat hy wel sy aftree-voordele kan neem as ‘n aftree-voordeel en nie as ‘n onttrekkingvoordeel nie. Die verskil tussen die twee voordele is geweldig. Op ‘n onttrekking is net die eerste 25 000 belasting vry terwyl op ‘n aftree-voordeel die eerste 500 000 belasting vry is. Voorts word onttrekkings wat geneem is na 1 Maart 2009 weer in berekening gebring met die belasting berekening op aftrede. Om ’n onttrekking te neem wat meer is as 25 000 beteken dus dat jy uitmis op 500 000 belasting vrye deel van ’n aftree-voordeel EN jy word weer belas op die onttrekking wat jy geneem het op aftrede.

2. Op ‘n lewensstyl vlak beteken ‘n vroeë onttrekking dat jy uitmis op ‘n belegging wat in rente-op-rente groei. Dit is ’n belegging wat veronderstel is om vir jou te sorg na aftrede. In my ervaring is dit minder as 1% mense wat hulle aftree-geld herbelê as hulle uit die werkgewer se diens uittree. Gewoonlik word die onttrekking gemaak ter wille van kort termyn behoeftes soos om geld op ‘n huis te sit, ‘n kar te koop en dikwels sommer net om van te leef. Sodoende word huidige leefstyl behoeftes bevredig ten koste van lewensnoodsaaklike versorging na aftrede.

Die slotsom: jy verloor al die pad as jy jou geld onttrek as jy die maatskappy se diens verloor. Al voel dit asof jy min geld in jou aftree-fonds het; spaar dit eerder. Dit is makliker, terwyl jy nog ander planne kan maak, om nou sonder die onttrekking-geldjie te leef, as om op jou ou dag waar jou opsies, kragte en gesondheid minder is sonder aftree-geld te moet leef.

 

Belê slim

Dikwels weet werknemers nie dat addisionele bydraes tot aftrede in hulle voorsorg– en pensioenfonds kan maak nie. Jy hoef dus nie ‘n addisionele annuiteit uit te neem as jy ekstra wil belê nie.

‘n Addisionele annuiteit maak net sin as jy ‘n ander inkomste buiten jou salaris het. Dit sal jou ‘n addisionele belasting-aftrekking gee.

As jy meer wil belê, maak seker van die volgende:

  • Beleggingsgroei – jy het ‘n opsie waar jy jou geld binne jou voorsorg– en pensioenfonds wil belê. Dalk het jy nodig om na ‘n ander beleggings-portefeulje te skuif;
  • Beleggingskostes – nie al die beleggingsopsies se kostes is dieselfde nie. Onthou, hoe meer kostes hoe minder gaan vir aftrede.

 

Om slim te belê, neem ten minste jaarliks kennis van die koste en die groei op jou belegging. Maak dan ook, naas jou aftree-beplanning, voorsiening vir korttermyn beleggings vir jou lewensdoelwitte. Jy moet nou ook leef….

(Vierde Kwartaal 2014)

 

Succession Planning the Formosa Way

The Formosa Advantage

Prof Joseph Fan, of the Chinese University of Hong Kong, and his team, conducted research on more than 200 Chinese family owned businesses in Taiwan, Hong Kong and Singapore. They found that in a five year succession period, succession performance declined by 60%. That is to say that for every 100 dollars owners’ value or investors’ value, by the time the succession is complete, the business is now only worth 40 dollars.

However, they found an exception to this occurrence; Formosa Plastics in Taiwan. Formosa is the largest manufacturing group in Taiwan. Their founder Wang Yung-ching passed away in 2008 at the age of 92. Just before and after his death the stock price did not decrease but actually increased. This went against all their  findings of a 60% decline in value at the succession stage of a family business.

What did Wang Yung-ching do different? According to Prof Fan it is because Wang Yung-ching did not focus on passing down tangible assets. In fact he decided not to leave any shares of his business to his children. Instead he transferred all the controlling shares of Formosa Plastics to a charitable foundation. That meant that none of the children were able to own shares and were not entitled to the dividends. On the surface he left his children with nothing. However, while alive, he spent a lot of time trying to educate and coach his children in entrepreneurship. It was more important for him leave his children intangible wealth than tangible assets.

How did his children turn-out? Off course it was not without its family feuds but in the end it turned out for the best. Wang Yung-ching’s daughter, Wang Xuehong, is the wealthiest businesswoman in Taiwan today. She is also the president of VIA Technologies and High Tech Computer Cooperation.

Sometimes nothing…. can mean everything.

Business like Van Gogh

Many business consultants have tried to encourage business owners to become the Van Gogh’s and the Rembrandt’s within their businesses. The challenge however is to translate that which is primary linear and logical in business into art-like concepts. What often happens is that business guru’s try to find the logical system within the world of art in order to create an art-like management system for business. This fails precisely because the mere search for logic within the world of art is trying to force the non-business force of the arts into a world which is obsessed with numbers, graphs and measurement. The question is whether the unpredictable world of the arts has anything to say to the way in which we conduct business.
I recon it does, but then not to develop yet another yard stick to carry on with business as usual. That value which the arts has to offer lies on a different… on a deeper level.
The arts invites us to put our logic for a moment aside and as the artist does, be taken up with passion and beauty and yearn for the unreachable. Doing business like Van Gogh is not to take advantage of yet another sales technique or client but rather enjoying the business for the business sake. It is when we enjoy what we are doing which invites our clients to join us with our art. This is the most honest way of doing business… just by loving what we are doing.