Good morning. Here is what the JSE has waiting for you today.
Overnight global mood
US markets ended Friday in holding pattern mode; tech watching the Fed's next move on rates like a cat watches a mouse hole. Europe and Asia are quiet this morning ahead of the week proper. The rand will do what it always does: surprise everyone and upset someone.
Today's big stories
Three taxes on saving. SARS has a special gift for anyone foolish enough to build wealth: capital gains tax, dividend tax, and interest tax all stack on top of each other. It's the financial equivalent of load shedding; you're already struggling, so why not add another layer. Read more.
Sector watch
Watch the banks and insurance stocks today. When SARS starts talking tax burden, retail investors panic-sell income-yielding shares. Financials are usually first to absorb that selling. If you're holding dividend payers, don't be surprised if Monday brings a bit of red ink before the real conversation starts.
One thing to watch
Your own portfolio's tax efficiency. If you've been buying and selling every other week, today's reminder about CGT might sting a little. Long-term holding still beats tax-induced panic selling, but check your cost base anyway. See what other investors are planning.
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