February, the month of love, is done and dusted. Pity that they chose the shortest month for that celebration, but perhaps it was intentional? After all, one’s budget for roses can only extend so far. St Valentine himself was beheaded on 14 February. History did not record whether that was as a result of his Netflorist order going missing or perhaps the Post Office was not as efficient then? Is it also not a coincidence that February is followed by March, commemorating Mars, the ancient Roman god of war?
In modern terms, February is also the budget month, and the time for the finance minister to declare undying love to taxpayers. March, the month of war, is the South African Revenue Services clock starts ticking till you pay your dues. But as an aside, did you know where income tax originated from?
We need to go back into the history of the United States (US) to unpack this.
Much like the sin and sugar taxes of today, the British government had been taxing the early US colonists on their tea. The colonists saw this as taxation without representation and the resulting Boston Tea Party ended in December 1773 with a huge amount of tea being dumped into the harbor as a form of protest. After much tea had passed under the bridge, we can fast forward to 1913, when with the 16th Amendment to the Constitution, the US Congress was given the power to tax income. Since then, those powers have not been reversed, and, contrary to the most recent experience in the US, the “power of the purse” has remained with the US Congress till today.
Our job is to help increase the size of your purse, despite the taxes. You have 11 months to save until the next month of love. ‘Horses for courses’ they say, and we have a horse for every course. You want income? You want growth? You want offshore diversification? Have a look at our fund range, we are pretty sure you’ll find a horse, er, that will meet your needs. Just remember to pay your taxes and put your Netflorist order in early.