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Jimmy Nevis for Two Oceans Half Marathon |
Posted by: Newsroom - 11-03-2015, 11:51 AM - Forum: SA Running and Trail
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Cape Town singer, songwriter and producer Jimmy Nevis will line up with some 16 000 other runners to participate in the Old Mutual Two Oceans Half Marathon on Saturday, 4 April 2015.
It will be the first Half Marathon for the artist, known for his catchy songs and radio hits like Heartboxing and Elephant Shoes.
Nevis’s participation is the culmination of hard work and making lifestyle changes in the past 12 months. “I was the kid who wasn't really good at sport, who hated mandatory cross country races and who didn't really believe in himself.
“Over the past year, all this changed. I am now obsessed with hiking and any outdoor activity, I enjoy taking part in summer sports and running has become a challenge that is more than just a hobby these days.â€
By the end of 2014, he had lost 17kg and started running 3km for fun, followed by completing his first 10km race in the beginning of 2015. This resulted in Nevis training harder and pushing himself to go further.
“For me the Old Mutual Two Oceans Marathon needs no introduction. You immediately associate it with guts, fitness and stamina. I will run my first Half Marathon on 4 April, and even though I am terrified, I am also very excited to push myself and my body to its full potential. This will be the physical highlight of my year and I plan to make it spectacular.â€
In addition to making his Half Marathon debut, Nevis will also be one of the guest speakers at the #OMTOMInspiration Theatre at the Cape Town International Convention Centre (CTICC) on Wednesday, 1 April 2015.
image credit: Earl Martin Photography
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Jorgensen wins Abu Dhabi 2015 Triathlon |
Posted by: DMG-network - 08-03-2015, 06:08 PM - Forum: Sports Feed
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The 2015 World Triathlon Series started exactly where it left off last year, when reigning ITU World Champion Gwen Jorgensen proved that she will again be the woman to beat with a stunning performance in Abu Dhabi’s season opener on Saturday. Jorgensen left the water 35 seconds down on the leaders, and then stepped onto [...]Jorgensen wins Abu Dhabi 2015 Triathlon is a post from: Time-to-Tri
more [url=http://www.time-to-tri.com/news/jorgensen-wins-abu-dhabi-2015-triathlonTriathlon news ...[/url]
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Inflation projected to drop to 4.3 percent |
Posted by: Newsroom - 25-02-2015, 06:41 PM - Forum: Business News
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While the tax proposals regime announced in the 2015 National Budget signalled difficult times ahead, Finance Minister Nhlanhla Nene also announced new tax breaks that would ease the burden on the already strained working and middle class income earners.
While the super-rich will pay more on property transfer pricing, the Minister delivered good news to citizens who will purchase property worth less than R750 000.
There will also be a relief on transfer duty for properties acquired up to R3 million.
“The rates and brackets for transfer duties on the sale of property will be adjusted to provide relief to middle-income households. The new rates eliminate transfer duty on properties below R750 000, while the rate on properties above R2.25 million will increase,†he said.
The new rates will only apply to property acquired on or after 1 March 2015 by any person, including companies, close corporations or trusts.
In summary, the following was announced in the Budget:
· A 0 % transfer duty rate will be charged for a property acquired for less than R750 000;
· A 3% transfer duty rate will be charged for property worth between R750 001 to R1 250 000;
· A 6 % transfer duty will be imposed on properties bought for R1 250 001 to R1 750 000;
· Properties bought for R1 750 001 to R3 million will see buyers paying 8 % in transfer duty.
· A transfer duty of 11% will be charged for properties bought for R3 million and above.
UIF relief for taxpayers
Meanwhile, National Treasury has proposed a once-off relief on the Unemployment Insurance Fund (UIF) contributions for the 2015/ 16 financial year.
The proposal, Treasury said, comes after the fund accumulated a surplus of R72.3 billion during the 2013/ 14 financial year.
Despite the more generous benefits mandated by a legislative amendment in 2012, the UIF estimates that earmarked contributions will add R51.8 billion to its accumulated surplus over the next three years, the National Treasury said.
“While government considers longer-term reforms, it proposes once-off relief for UIF contributors in 2015/16. Workers and employers each contribute 1 % of the first R14 872 of an employee’s remuneration.
“This threshold will be lowered to R1 000 with no change in benefits.
“In effect, employees will pay only R10 in monthly UIF contributions – and employers the same amount per worker – putting about R15 billion back into the pockets of workers and businesses in 2015/16,†said Treasury. – SAnews.gov.za
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Increase on personal income tax, fuel levies proposed |
Posted by: Newsroom - 25-02-2015, 12:41 PM - Forum: Business News
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Taxpayers should expect to pay a percentage point more from their personal income tax for government to raise an extra R12 billion this year and another R15 billion next year, the National Treasury said on Wednesday.
Government has also proposed an overall increase in fuel levies of 80.5 cents per litre, of which 30.5 cents per litre is an increase in the general fuel levy and 50 cents per litre is for the Road Accident Fund (RAF).
The proposals, however, will see those in the lower income bracket – those that earn less than R181 900 per annum, being spared from tax increases.
“The 2015 Budget proposals build on the progressive character of the tax system by raising all marginal rates by one percentage point, except for the lowest bracket, which remains unchanged.
“Leaving aside other adjustments, the rate changes will result in individuals with an annual taxable income of R200 000 a year paying about R21 more in monthly taxes.
“Those earning R500 000 will pay an extra R271 per month; and those earning R1.5 million will pay an extra R1 105 each month,†the National Treasury said.
The increases, which were widely expected, follows Finance Minister Nhlanhla Nene’s announcement when he tabled the Medium Term Budget Policy Statement, dubbed the mini budget, in October last year, that to bolster government low revenue collection, difficult tax decisions would be taken to raise the shortfall.
Delivering the National Budget in the National Assembly, the Minister said the budget tax proposals were aimed at increasing tax revenues for the corporate tax base, increasing incentives for small businesses and promoting a greener economy.
“However, tax brackets, rebates and medical scheme contribution credits will be adjusted for inflation, as in previous years. The net effect is that there will be tax relief below about R450 000 a year, while those with higher incomes will pay more in tax.
“In essence, government aims to narrow the budget deficit, stabilise debt and begin to rebuild the fiscal space,†he said.
A combination of a lower expenditure ceiling and higher taxes will narrow the budget deficit to 2.5% of the Gross Domestic Product (GDP) by 2017/ 18, the National Treasury said.
“The 2015 Budget tax proposals are expected to add R16.8 billion to revenue in the next year, before accounting for fiscal drag, and carry forward over subsequent years.â€
Increase in fuel levy proposed
Government has also proposed an increase in fuel levies spend.
This will result in overall increase in the fuel levies going up by 80.5 cents per litre, of which 30.5 cents per litre is an increase in the general fuel levy and 50 cents per litre is for the Road Accident Fund (RAF), as described below.
According to the National Treasury, South Africa’s fuel levies are comparatively low by international standards, and the recent decline in fuel prices creates space for an increase.
“An increase in the general fuel levy of 30.5 cents a litre will take effect in April,†the Minister said.
The National Treasury also said that the additional revenue will help to close the gap in the public finances over the medium term.
Beyond that, several long-term policy objectives, including national health insurance and expanding the post-school education system, imply permanent spending increases that cannot be financed from existing levels of revenue.
The department also said that South Africans need to consider and debate the adjustments required to create room for these progressive spending policies.
“The impact of any proposed measures on employment and the cost of labour, as well as the long-term growth of the economy, needs to be taken into account,†the National Treasury said. – SAnews.gov.za
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