“Street Notes” – November 2020

Quote of the Month

“Dying rich can’t compete with living rich, and making a living doesn’t measure up to making a life.”

– Mitch Anthony



Global equities suffered their worst weekly decline since March (despite some positive macro data) as increased infections and lockdown measures in some countries worried markets. Additionally, uncertainty around US elections and a lack of clarity with regards to the US stimulus added to volatility.

In SA, the Medium-Term Budget Statement was not a game changer in term of rates, the Rand or inflation, although execution risk remains (especially in respect of public sector wages). Foreign investors seem to be giving us the benefit of the doubt for now with the Rand strengthening for the 3rd consecutive month, but the longer-term examples from Brazil and the like are lessons we should heed. With the Rand continuing to strengthen into November it is a pity the rest of the world is in lockdown and none of us can travel overseas but at least we can support our local travel industry which needs all the help it can get.

With the festive season lights on at shopping centres already we hope that world markets can start to feel some of this festive cheer after a very tough month in October.

Return on Life

It’s important to balance return on investments with return on life (ROL). ROL is defined as, ‘How well you are doing in living the life you want, with the money you have?”

Here are some key ROL indicators:

  • Living well within your means
  • Investing time, energy, and resources in people and engagements that energize you
  • Allowing yourself to have experiences and fulfillment whenever possible
  • Not comparing yourself to others who may live with a different set of circumstances
  • Living purposefully
  • Not allowing your identity to be defined by numbers

Pic of the month – remembering a special time one year ago

Tip of the month – Using your Single Discretionary Allowance

Every SA citizen every calendar year has an overall Single Discretionary Allowance (SDA) of R1 million. This allowance is the overall limit of your international spend per year and is linked to your ID number.

In terms of exchange control regulations, this includes use of your credit card for transactions when you are abroad as well as online payments at international merchants. These transactions are not subject to prior exchange control regulations. This limit resets on 1 January each year and is subject to future changes that might be announced.

If you want to use your SDA for other international transactions including investment, travel or cryptocurrency, it is important you keep track of how much of your allowances you still have available.

In addition to this SDA, you can get approval from SARS for an additional R10 million Foreign Investment Allowance (FIA). This is usually not a long application process however it is much more admin intensive compared to using your SDA. You will need to complete a SARS application form and complete asset & liabilities information for your last 3 years. Acceptance is usually granted if your tax affairs are in order and you can show the source of the funds you want to take offshore.

If you would like more clarity, please email me directly at [email protected]

Contact us

We’d love to hear from you!   


5th Floor, North Wing, Hyde Park Shopping Centre, Hyde Park Corner, Hyde Park, Johannesburg, 2196

Phone: 011 033 3410

Adam Bacher [email protected]
Leigh-Ann Ritson [email protected]