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Part of your plan should include a risk management assessment and plan i.e. identify what could go wrong and have a plan to limit the impact on your business.
The Origin team of advisers can assist you with this essential and holistic risk management plan.
An appropriate short-term insurance solution is an essential part of this risk management plan. With over 200 years of collective experience in business risk management, Origin advisers can assist you in implementing this plan.

We provide assistance in the following areas:

• Fleet Insurance
• Directors and Officers Liability
• Structured and sell captive Insurance
• Professional Indemnity
• Broadform Liability
• Guarantees
• Cyber and eCommerce

As a business owner, I am sure we have all pondered on how we can support our employees, partners and stakeholders in a better way during the COVID-19 pandemic. Issues that come to mind during the lockdown are that as business owners, we would all like to keep on earning a decent income and pay all employees’ salaries plus all other business expenses. We would like to know our employees are members of a comprehensive medical aid plus have group life benefits to assist financially should they fall seriously ill or pass away. Thus, another part of the “summer body” plan is to assess your business in terms of the people involved. The Origin team of financial planners can assist you in implementing this plan.

A few areas to include in this plan:

• Buy and sell structures and business continuation plans and contracts
• Key-person and contingent liability structures
• Employee benefits; including pension and provident umbrella funds, group retirement annuities, group life and disability benefits.
• Group medical aid and GAP cover.

Let’s not forget to shape the whole body! How about those accounting records, financial statements, VAT returns, to name a few, that are not up to date? The Origin team also offers the advice and services of MST Tax and Accounting Group to assist you with these crucial records and assessments. Now is the time to also seek assistance for all these essential records plus a proper tax structure to incorporate all the insurance, business continuation plans and group benefits.

Contact your Origin partner now to attain the best “Business Summer Body” results!

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Let’s kick off this new decade with Origin’s income tax-saving opportunities before the fast-approaching 29 February 2020 tax year-end! 

The Origin Group offers the following tax-saving advice and products to help you maximise the tax benefits offered through investments, risk management products and legislation. 

INDIVIDUAL AND GROUP RETIREMENT ANNUITIES & PENSION FUNDS 

Try to invest the full 27,5% of your taxable income in a retirement annuity and benefit from the other advantages too, such as: 

• Growth in your investment is tax-free. 
• Favourable tax treatment on lump-sum proceeds at retirement or death. (First R500 000 tax-free and the rest of the lump sum taxed at favourable rates) 
• Retirement funds are protected against creditors and therefore insolvency. 
• Withdrawals from other retirement funds, such as employer funds after resignation, can be transferred to retirement annuities free of tax. 
• Retirement funds are exempt from estate duties and do not form part of your estate; therefore, also saving on executors’ fees. 
• A monthly income provided in retirement with various options available. 
• Group retirement annuities can form part of your employee benefits, with one benefit being the reduction in taxable income. 

At Origin, we offer a range of actively managed model portfolios and fund choices in order to enhance communication from fund performances, optimise market opportunities and strive to keep costs as low as possible for our clients. 

TAX-FREE SAVINGS 

With a tax-free investment, you do not receive immediate income tax relief, but your fund grows free of tax while you remain within the tax-free savings product. Every year, you can invest up to R33 000 in tax-free savings accounts, with a lifetime limit of R500 000. When you do make a withdrawal, or at maturity, you won’t be taxed on the proceeds either. A variety of funds are available to invest in and can be structured according to your specific need, risk and time of investment. 

STRUCTURED INSURANCE 

You can create and increase insurance capacity over a period and retain more risks or higher deductibles than through a standard business short-term insurance policy. 

Herewith a few benefits of what specialised structured insurance can offer: 

• Receive additional risk cover. 
• Improve cash flow benefits. 
• Create a self-insurance capacity for uninsurable or expensive risks. 
• Lump-sum or monthly contributions are accepted, which are short-term insurance premiums and deductible for income tax purposes. 
• Can be structured as stand-alone and as a supplement to your traditional short-term insurance benefits. 

TAX RISK POLICY 

Have you or your business been selected for an audit by SARS? The additional accounting and fees towards tax specialists can become unaffordable. 

Origin offers a tax risk policy to look after these unforeseen additional accounting fees or appoint the team of tax professionals who will defend you. The cover can provide for Income Tax audits, VAT, Employees Tax, CGT and dispute resolution hearings and appeals to the Tax Board and Court.  Once again, it is best to contact your Origin adviser to help get this policy in place for the coming tax year’s audits! 

To ensure you do not miss out on the tax-saving opportunity for 2020, please contact our team of financial planners by latest 20 February 2020 in order to add an appropriate lump sum contribution to your retirement annuity, tax-free savings account or structured insurance product. Your financial planner can calculate the correct contribution to maximise your tax deduction for the tax year. 

This article is a general information sheet and should not be used or relied on as professional advice. No liability can be accepted for any errors or omissions nor for any loss or damage arising from reliance upon any information herein. Always contact your financial adviser for specific and detailed advice. Errors and omissions excepted. (E&OE)

MY BUSINESS IS:

• MY EXPERTISE, MY PASSION AND TIME
• WHAT I LIVE FOR
• MY RETIREMENT PLAN
• MY FAMILY
• MY LIFE!

But what if my business suffers a loss? What if my business burns down? What if my business is a victim to a robbery? What if my motor vehicle is destroyed in an accident? What if I fall ill? What if I am physically impaired or permanently disabled? What if my partner passes on? What if my key staff member suffers a disability? Should I help my staff provide for retirement? What if my staff members cannot work because of constant illness and do not belong to a medical aid? How do I set up my payroll and who will provide me with accounting, VAT and auditing services?

The ORIGIN FINANCIAL team do not want you or your business to suffer because of these unforeseen incidents. We can provide you with comprehensive, holistic and accurate planning and advice to ensure that your business can recover from almost any incident and accident.

Our financial advisors and planners are ready to partner with you to develop the best risk management strategy suited to your specific needs.

We also include the following advice, products and services in the business or commercial environment:

1. Comprehensive commercial short-term insurance for a wide variety of business types, including:

• Agricultural Insurance;
• Engineering Insurance;
• Body corporates and Homeowners’ Associations;
• Cell Captive or Structured Insurance;
• Liability Insurance;

2. Buy & Sell structures and business continuation plans;

3. Keyman and Contingent liability plans; and

4. Employee benefits, including pension and provident umbrella funds, group retirement annuities, group life & disability benefits and group medical aid and GAP cover.

Let our business help you retain your business!

This article is a general information sheet and should not be used or relied on as professional advice. No liability can be accepted for any errors or omissions nor for any loss or damage arising from reliance upon any information herein. Always contact your financial adviser for specific and detailed advice. Errors and omissions excepted. (E&OE)