Transcape Assurance Brokers

02/07/2025

In Memory of Howard Smith

Dear valued clients

It is with great sadness that we share the news of the passing of our beloved colleague and friend, Howard Smith, who peacefully left us last Thursday due to health complications.

Howard was the Head of Short-Term Insurance at Transcape Assurance and dedicated over 30 years to our team, our clients, and the industry. He was not only an expert in his field but also the heart and humour of our office — always quick with a joke, especially in the toughest of moments, and always willing to help anyone who needed guidance.

Though his passing was swift and not marked by significant pain, Howard faced the final chapter of his life with the same resilience and sharp humour that defined his career. His legacy lives on in the countless clients and colleagues he supported over three decades.

To celebrate his life, there will be a farewell gathering (not a formal funeral — he never liked those) on Friday at 3pm-4pm at the Mowbray Bowls Club (Chapel Road, Mowbray), where Howard spent many happy hours and was a much-loved member of the community. Our offices will be closed from 2pm on the day to allow our team to attend and pay their respects.


For all short-term insurance matters(Car, house and commercial), please contact:
• Andrew Clark – [email protected]
• Rory Smit – [email protected]
• Office - 021 794 8404

We are fully committed to continuing Howard’s high standard of care and ensuring that your insurance needs remain well looked after.
Thank you for your support and understanding during this time.

Warm regards,
The Transcape Assurance Team

06/05/2025

21/07/2020

A good estimate I think!

04/05/2020

It is with a heavy heart that we inform you that our beloved Terry Ortlepp passed away on Friday the 1st of May.

Due to current conditions no memorial has been arranged as of yet.

If you had any unfinished or other business with him, Transcape Assurance has in place the necessary procedures to make sure that his clients are serviced and looked after. Please contact us on 021 794 8404

We will port information on his memorial here when details are confirmed

04/03/2020

Are you prepared for this??

Review of the Foreign Income Exemption

A South African resident is taxed on worldwide income. Previously, all remuneration earned by a South African tax resident offshore was fully exempt - provided the tax resident was outside South Africa for more than 183 days per year. As from 1 March 2020, a South African tax resident will pay tax on foreign employment income that exceeds R1,25 million. This exemption has been increased from the R1 million previously proposed.

17/02/2020

Tips on getting a nice refund from SARS before the year end

Retirement annuity (RA) contributions

You can deduct up to 27.5% of your taxable earnings on contributions to your retirement.

In other words, if you contribute 15% of your salary to your pension fund at work you can invest up to 12.5% in an additional RA to get the full 27.5% deduction.

You must make the RA contribution no later than 29 February 2020.

Tax-free savings account (TFSA)

Think about investing a lump sum into a tax-free savings account before the tax year ends, suggests Roelofse.

You are permitted to invest R33 000 each year, so top up by 29 February to take full advantage.

Capital gains tax (CGT)

If you plan to sell some of your assets, considering doing so by 29 February to get the full annual exclusion of R40 000.

Sell again on 1 March to get another exclusion of R40 000.

Donation tax

If you intend to donate assets worth more than R200 000 to anyone other than your spouse, split the donation two.

You can donate R100 000 each year, tax-free.

So, suggests Roelofse, make one donation of R100 000 by 29 February while donating the second R100 000 on or after 1 March.

11/02/2020

Do your SARS efiling

The exception works like this:
You earn R1 000 001
There is a foreign employment income exemption of R1m
Taxable income earned: R1
So you pay tax on R1 (at18% not 45% because it is marginal income)

Then you get rebates...

27/01/2020

Discovery Vitality rates for 2020

17/01/2020

"It's important to understand how a little bit makes a lot of money over time. On a million rand mortgage over 20 years you will now save R165 per month. You could go out for dinner.... or phone the bank right now and tell them I want you to keep my instalment exactly the same -don't drop it by R165. That will knock off a whole year off your repayment and save you 76-thousand- rand!"
— Maya Fischer-French, finance journalist

The slight drop in the repo rate is a good thing for ordinary South Africans.

09/01/2020

Members will still be able to earn points through weekly goals.

20/12/2019

You are able to upgrade your medical aid once a year on the 31st. You can do this online by logging into your profile or by contacting your financial advisor

18/10/2019

We have added a new cell phone number for you to contact us during the load-shedding hours. If you call during load-shedding hours to our normal number (021 7948404) you will automatically be re-directed to our new cell number of 072 501 1463. We have added whatsapp to this number if you need to send us pictures for claims etc.

Have a great weekend everyone and stay safe on the roads