Receive client tax directive simulations

Enhance your financial planning for your clients

Gravitas TAX

Enhanced Financial Advice

Gravitas Tax is a tax information company that provides tax directive simulations to Financial advisers. Our main function is to provide you with the latest information in regard to tax directives in the form of a simulation tax directives to enable your client to make an informed decision prior to withdrawing any monies from their retirement savings.

Gravitas TAX Solutions

01

Retirement, Death, Retrenchment

Upon retirement or retrenchment a member of a pension fund or retirement annuity fund has a decision to make regarding how much to take as a cash lump sum. Up to one-third may be taken as a lump sum with the first R550 000 taxed at 0%. The question arises how much to take as a lump sum due to previous retirements/withdrawals. This is where Gravitas can simulate the actual amount of tax payable by the member. This gives you as the financial planner an advantage to save the client on tax payable and optimise their retirement planning. The tax calculation is impossible to do if all information is not available, which it rarely is.

02

Withdraw

It is also possible to withdraw any part of a pension or provident benefit savings before the pensionable age of 55 if the client should leave the employer depending on their unique situation. The client might be eligible to withdraw from his/her pension fund upon resignation or due to retrenchment. Gravitas gives you as the financial planner the tools to calculate this amount for your clients to ensure maximum tax efficiency.

10213000

people employed in South Africa

Why do I need a Simulation Tax Directive?

1. Tax Payable

Every time when a client withdraws a lump sum from either a Pension fund, Provident fund or Retirement Annuity they might incur tax from SARS

2. Taxed at 0%

The first R550 000 of withdrawals at retirement and the first R 27 500 of withdrawals prior to retirement are taxed at 0%.Thereafter clients will pay tax according to the SARS tax tables.

3. Previous Withdraws

The reason simulation tax directives are so important is that previous withdrawals are taken into account. If a client has previously withdrawn funds from their retirement funds before retirement (e.g. surrendering a retirement annuity) it will be added to the amount taken in the current situation. The problem arises when clients forget or don’t disclose previous withdrawals which results in more tax payable.

4. Improved Planning

Using the Gravitas tax directive simulation enables you as the financial adviser to understand how much was taken as previous withdrawals and to estimate how much tax will be payable on the current retirement / withdrawal / retrenchment and allows you to plan accordingly.

Pricing

Small Package

R 149 .00 /MON

3 Simulation Directives

Medium Package

R 199 .00 /MON

5 Simulation Directives

Large Package

R 349 .00 /MON

10 Simulation Directives

Corporate Package

Full API Interagtion/White label solution.

Contact us

If you have any questions pertaining to how the sign up process works which will allow you to obtain Quote Tax Directives for clients, or if you have any questions about our process in general, please do not hesitate to contact us.

1 Century Boulevard

Century City, Milnerton, 7441