Finance News Update | 24 Aug 2026

General Headlines SARS three-year warning for taxpayers in South Africa A recent High Court ruling says SARS can reopen tax assessments older than three years if the taxpayer committed fraud, misrepresented facts, or failed to disclose important information. Normally, SARS cannot challenge assessments after three years, but exceptions apply when these issues caused the incorrect tax result. Two conditions must be met, there must be proof of fraud, misrepresentation, or non-disclosure, and this must directly link to the wrong tax assessment. If either condition is missing, SARS cannot change old assessments. Legal experts note that deciding what counts as “misrepresentation” can be tricky -giving an honest but incorrect legal opinion doesn’t break the rule, but deliberately hiding or twisting facts does.(BusinessTech) Absa appointed master custodian of Government Employees Pension Fund Absa has been chosen as the main custodian for the Government Employees Pension Fund (GEPF), Africa’s biggest pension fund with assets worth over R3.5 trillion. This is a major role in South Africa’s investment market. As custodian, Absa will handle the safekeeping of the fund’s investments, manage cash linked to those investments, settle transactions, provide reports, and support governance. The stronger custody system should improve transparency and oversight, protecting members’ long-term interests. Although custodians work mostly behind the scenes, their role is vital for trust and smooth operations. Absa has worked with the GEPF for more than 20 years, building a strong relationship that allows it to manage such a large and complex mandate. (EngineeringNews) Markets and Investments Big shift in interest rate expectations in South Africa South Africa’s inflation dropped more than expected in July, making it more likely the Reserve Bank will keep interest rates unchanged as it monitors the impact of the Iran war. Inflation slowed to 4.3% from 5% in June, lower than economists’ forecast of 4.5%. Monthly inflation rose just 0.2%, compared with 0.7% in June. Economists now expect the Bank to hold rates at its September meeting, though some still see a chance of a small hike. The rand briefly strengthened after the data but later settled near R16.25 per dollar, while government bond yields eased slightly. Lower petrol prices, thanks to falling crude oil costs, also helped ease inflation. The Reserve Bank kept rates at 7% last month, saying inflation is improving and should move toward its 3% target. Its next decision is due on 23 September.(BusinessTech)

Property and Real Estates  Women lead SA’s residential property ownership, but men hold higher-value assets In 2025, women owned more properties than men, though men tended to own higher-value ones. Single women started buying more homes than single men from age 29 onward and stayed ahead in all older age groups. Most activity was in Gauteng, where Johannesburg, Tshwane, and Ekurhuleni made up two-thirds of the 42,323 properties bought by single women in the big metros. Cape Town had the highest average purchase price at R1.8 million, followed by Johannesburg at R1.3 million, eThekwini and Tshwane at R1.2 million each, and Ekurhuleni at R1 million. Women were especially active in estates and sectional-title developments, outnumbering men by 30% in sectional titles and 12% in estates. Freehold ownership was nearly equal between genders. Most single women bought homes under R1 million, mainly sectional-title and freehold properties. Buying was strongest among women aged 35–55, who purchased about 34,200 properties, compared with 21,400 bought by women under 35 and 14,100 by those over 55. (PropertyWheel)