Health
Don’t Miss Out on Your Medical Refunds and Gap Cover Claims
Many clients lose out on refunds simply because they forget the correct procedure. Here are some important reminders:
Inform your broker or scheme: When you pay a service provider for medical treatments, you must notify us or your medical aid scheme in order to claim the refund. The medical aid scheme will not automatically refund you just because you believe you’re entitled to it.
Gap cover claims need action: The gap cover company is not aware of your payments unless you submit a claim. Without notifying us or them, no refund will be processed.
Follow the procedure: Refunds and claims require specific documentation and must go through the proper processes. This may take some time but in order to ensure accuracy and help prevent fraudulent claims it needs to be done – even if you are in a hurry.
Always keep us informed and submit the necessary information promptly. By following the correct steps, you’ll avoid delays and ensure your claims are settled smoothly.
Short Term
Towing Trouble Ahead! Is Your Driver’s License Up to the Job?
Our Claims Department has noticed a worrying trend: more and more drivers are towing caravans, cattle trailers, and heavy loads without the correct license category.
The result? Costly accidents, legal complications, and in some cases, insurance claims are being rejected.
Many motorists believe their standard driver’s license covers all towing categories. This unfortunately is not the case.
Know Your License Categories
1. Code B (Standard Driver’s License)
Most drivers hold such a licence
Towing Permissions :
- Vehicles within the Code B category (Standard vehicles and LDVs)
- Light trailers with a Gross Vehicle Mass (GVM) of up to 750 kg (for example, a typical Venter trailer)
Not Permitted:
- Towage of most caravans
- Towage of Cattle or livestock trailers
- Towage of heavy utility trailers exceeding 750 kg GVM
2. Code EC (Heavy Towing License)
This license is required for towing heavier loads.
Towing Permissions:
- Caravans exceeding 750 kg GVM
- Livestock and cattle trailers
- Heavy trailers and other large towed loads
As most caravans and cattle trailers weigh more than 750 kg GVM, a Code EC license is generally required to tow them legally.
Why It Matters for Your Insurance
Towing a trailer that exceeds the limits of your license category can have serious consequences.
If an accident occurs while towing a load your license does not permit, you may be regarded as unlicensed for that activity. This could lead to your insurer declining a claim, leaving you responsible for potentially significant costs.
Simply put: having the wrong license could turn a routine trip into an expensive mistake.
Tow smart. Tow legal. Stay covered.
Wealth
Building Wealth with Discipline with an endowment.
An endowment is a long‑term investment product designed to help you grow and protect your wealth in a structured way. It combines disciplined saving with tax efficiency, making it a valuable addition to a diversified portfolio.
What is an Endowment?
An endowment is essentially a five‑year (or longer) investment policy. You contribute either a lump sum or regular premiums, and the funds can be invested in a range of assets. At the end of the term, you receive the accumulated value, which can be used for future goals like education, retirement, or wealth transfer.
Key Benefits
Tax Efficiency: Endowments are taxed within the policy at a fixed rate, which can be lower than your personal marginal tax rate. This makes them particularly attractive for high‑income earners.
Estate Planning: You can nominate beneficiaries, ensuring that proceeds are paid directly to them without going through your estate. This speeds up access to funds and may reduce estate duty.
Discipline & Commitment: Because endowments have a minimum term, they encourage consistent saving and prevent premature withdrawals that can derail long‑term goals.
Diversification: Endowments give access to a professionally managed basket of investments, spreading risk across asset classes.
Protection from Creditors: In certain circumstances, endowment policies may offer protection against claims from creditors, adding an extra layer of security.
Why Consider an Endowment?
If you’re looking for a tax‑efficient, disciplined way to invest for medium‑ to long‑term goals, an endowment can be a smart choice. It works best as part of a broader wealth strategy, complementing retirement funds, discretionary investments, and savings accounts.
By aligning your investment with your financial objectives, an endowment can help you grow wealth steadily while offering peace of mind through structured benefits.
Tax
Provisional Tax: August 2026 Deadline
If you earn income that isn’t taxed through PAYE (i.e. business profits, rental income, freelance or consulting fees, or significant investment income), you are most likely a provisional taxpayer and need to submit your first IRP6 return for the 2027 tax year by 31 August 2026.
This first return covers the six months from 1 March to 31 August 2026 and requires an estimate of your total taxable income for the full year (1 March 2026 to 28 February 2027). The tax due is calculated on that estimate, less any PAYE already paid, with the balance settled as your first provisional payment (i.e. 50% of the estimated tax for the full year).
A few reminders: estimates that fall too far below your actual taxable income can trigger SARS penalties, so it’s worth basing your figure on solid records rather than guesswork. Late submission or late payment also attracts penalties and interest, even if you eventually file. Returns and payments are made via SARS eFiling.
The second and final provisional payment for this tax year will follow on the last business day of February 2027, at which point your estimate is topped up (or adjusted) based on your actual results for the year.
If you’re unsure whether provisional tax applies to you, or need help calculating your estimate, get in touch before the deadline.