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Invest your money offshore and die poor. This is a quip from Efficient Group chief economist Dawie Roodt. Speaking at the Free Market Foundation on the budget and fiscal condition of the country, Roodt emphasises the increased offshore institutional investment limits and says asset managers will certainly be maxing out on them. And with an increase in estate duty, he recommends a good adviser to help minimise this death tax. Roodt says that the budget is still very much a Jacob Zuma budget, presented by a Zuma minister. With national budgets being a three-year rolling design, there was simply no time to change the numbers. However, the medium-term October budget review could be more Ramaphosa-like. A key concern for Roodt is the ever-ballooning state spend. "We are trying to spend ourselves rich," he says. "That is what wealthier developed countries can do. As an emerging market, we should rather be saving, investing and creating wealth — and we are certainly not doing this."Roodt e...

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