MyMoney Online, The Personal Finance series with Warren Ingram

Should YOU have money in centres such as Panama? Or is it only for tax dodgers?

(Also read "'Panama Papers' reveal worldwide web of corruption by leaders and celebs".)

The Panama Papers got Galileo Capital Financial Advisor Warren Ingram thinking… Are there any good reasons to have money in offshore centres like Channels Islands, Switzerland, etc?

Are these places only meant for tax dodgers and politically connected people?

The Money Show’s Bruce Whitfield interviewed Ingram for his weekly personal finance feature.

Scroll down for quotes from the audio below.

If SA is your home you pay tax on income you earn anywhere in the world.

Warren Ingram, Galileo Capital Financial Advisor

If you house your bank account in Mauritius – and you’re not a resident – they don’t tax you.

Warren Ingram, Galileo Capital Financial Advisor

You tell SARS where you put your money and what you earn in terms of interest and dividends.

Warren Ingram, Galileo Capital Financial Advisor

Tax havens have a well-earned reputation for housing criminals’ money.

Warren Ingram, Galileo Capital Financial Advisor

There are good tax havens and there are bad ones.

Warren Ingram, Galileo Capital Financial Advisor

Most South African unit trust companies’ offshore investments are housed in tax havens.

Warren Ingram, Galileo Capital Financial Advisor

It’s your right to legitimately avoid tax. It’s what you should be doing!

Warren Ingram, Galileo Capital Financial Advisor

Tax dodgers’ time is pretty much over.

Warren Ingram, Galileo Capital Financial Advisor

Go to Sars before it finds you.

Warren Ingram, Galileo Capital Financial Advisor

Subscribe to our Business Wrap Newsletter

CapeTalk welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the CapeTalk community a safe and welcoming space for all.

CapeTalk reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

CapeTalk is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
McKinsey ‘apology’ is full of platitudes – Corruption Watch

McKinsey ‘apology’ is full of platitudes – Corruption Watch

The Money Show’s Bruce Whitfield interviews Corruption Watch Executive Director David Lewis.

30 million SA ID numbers/sensitive info exposed in largest data breach ever

30 million SA ID numbers/sensitive info exposed in largest data breach ever

In other words; you’re probably a victim. The Money Show’s Bruce Whitfield interviews Stuff magazine’s Toby Shapshak.

Tax Ombud fights Sars on your behalf (send a complaint, it's free)

Tax Ombud fights Sars on your behalf (send a complaint, it's free)

Bruce Whitfield interviews Tax Ombud Judge Bernard Ngoepe.

‘Panama Papers’ reveal worldwide web of corruption by leaders and celebs

‘Panama Papers’ reveal worldwide web of corruption by leaders and celebs

Khulubuse Zuma, Jackie Chan, Lionel Messi... A huge leak has exposed a massive web of tax evation and corruption.

Is it worth it to invest internationally?

Is it worth it to invest internationally?

Warren Ingram, Financial Advisor at Galileo Capital, reviews international investments and whether or not they are worth it.

Everything you ever wanted to know about offshore investing

Everything you ever wanted to know about offshore investing

How much to invest, when to do it, how to do it and why, if at all, you should do it…

Popular articles
LISTEN: Gerrie Nel on why he's persuing prosecution against Duduzane Zuma

LISTEN: Gerrie Nel on why he's persuing prosecution against Duduzane Zuma

AfriForum will prosecute Duduzane Zuma after NPA declined to do so in 2015 following a 2014 accident where a woman died.

How we invented the modern concept of sleep

How we invented the modern concept of sleep

Dr Bodhisattva Kar reveals how industrial capitalism influenced the world's current sleep patterns.

Hassen Adams (he brought Burger King and Dunkin’ Donuts to SA) talks money

Hassen Adams (he brought Burger King and Dunkin’ Donuts to SA) talks money

The Money Show’s Bruce Whitfield interviews Adams about his attitude to money (hopes and fears, successes and failures, etc.).

Kloof Street residents living in fear as crime multiplies

Kloof Street residents living in fear as crime multiplies

A Cape Town man was stabbed to death on Saturday while trying to assist two women who were being mugged on Kloof street.

‘I started my thriving business with R5000 (and made a profit in the 1st month)’

‘I started my thriving business with R5000 (and made a profit in the 1st month)’

After 3 years there are 3 Nic Harry stores (incl online) that sell 100 000 pairs of socks in over 20 countries around the world.