Sable breed – Asso Sable http://asso-sable.net/ Wed, 11 May 2022 08:52:59 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://asso-sable.net/wp-content/uploads/2021/11/asso-120x120.png Sable breed – Asso Sable http://asso-sable.net/ 32 32 Rich Strike makes a fortune at the Kentucky Derby • Troy Media https://asso-sable.net/rich-strike-makes-a-fortune-at-the-kentucky-derby-troy-media/ Tue, 10 May 2022 14:37:19 +0000 https://asso-sable.net/rich-strike-makes-a-fortune-at-the-kentucky-derby-troy-media/ Reading time: 4 minutes Last Saturday, the 148th Kentucky Derby, one of the three jewels of the American Triple Crown along with the Preakness Stakes and Belmont Stakes, produced a great moment in horse racing history. It’s the heartwarming story of a longshot horse who barely made it to the race and a trio of […]]]>
Reading time: 4 minutes

Last Saturday, the 148th Kentucky Derby, one of the three jewels of the American Triple Crown along with the Preakness Stakes and Belmont Stakes, produced a great moment in horse racing history. It’s the heartwarming story of a longshot horse who barely made it to the race and a trio of individuals who had never competed in the “race for the roses”.

Some horses have won one, two or, in rare cases, all three legs of this series of races.

Sir Barton became the first to win the Triple Crown in 1919. The legendary Man o’ War skipped the Derby in 1920 but won the Preakness and the Belmont. Canada’s Northern Dancer won the Derby and the Preakness in 1964 and finished third at the Belmont. There was a 37-year gap between triple crown winners Affirmed (1978) and American Pharoah (2015)

There have also been upset winners.

The Derby’s biggest surprise was Donerail in 1913. A 91-1 longshot, owner Thomas Hayes’ instruction to jockey Roscoe Goose was to earn a “share of the purse” by finishing the race. The horse exceeded expectations, beating favorite Ten Point in an eight-horse field. He took home a payout of US$184.90 for a $2 bet, which remains the biggest in Derby history.

Donerail won just 10 of 62 races – despite reaching the standings in half of them – and retired in relative obscurity. Hayes, a respected Louisville native, became only the second person to own, raise and train a Derby winner.

Goose, also a native of Louisville, became a highly respected statesman. “The Golden Goose” trained and owned horses. He was instrumental in helping jockeys like Eddie Arcaro and Charlie Kurtsinger, who won the Triple Crown with War Admiral in 1937. As his great-niece, Carla Grego, said on a TV special Kentucky Educational Television in 2014, “I never heard anyone say a bad word about him. Everyone who spoke about him said what a gentleman he was.

More than a century later, another upheaval may have overturned Donera’s fabled tale

he down an ankle. That’s when the world saw Rich Strike 80-1 from afar hitting the Derby hard.

Rich Strike was raised on Calumet Farm in Lexington, Kentucky. Her dam was Canada’s Gold Strike, who won four of nine races and was named Canadian Champion Three-Year-Old Filly in 2005. Her sire was Keen Ice, who won 3 of 24 races – including a huge win over American Pharoah at the Travers Stakes 2015.

Alas, this horse did not have a stellar record. In the previous seven races, his only win was in last September’s Maiden Claiming at Churchill Downs, home of the Derby. An impressive 17 1/4 lengths encouraged trainer Eric Reed to purchase it for US$30,000 on behalf of Richard Dawson’s RED-TR Racing.

Reed has been training horses since 1983. He followed in the footsteps of his father, Herbert, who apprenticed with trainer/owner/breeder Mack Miller. Dawson, who has had a long career in the oil and gas industry, is a newcomer who bought his first horse in 2019.

The other piece of the puzzle is Venezuelan-born Sonny Leon. The relatively unknown jockey “had such a light footprint in North American horse racing,” the Lexington Herald chief noted on May 9, that “he had never won a high-stakes race.” Nonetheless, Leon has been a “regular rider away from the brightest lights of horse racing at the Mahoning Valley Racecourse in Youngstown, Ohio”, and he, in fact, “wins races, having won 226 in 2021 over a huge 1,125 starts”.

Rich Strike almost didn’t enter the Derby.

A third-place finish at last month’s Jeff Ruby Steaks gave the horse 20 points in the 2022 Road to the Kentucky Derby. That put the colt just outside the bubble in the equally eligible list. At 8:45 a.m. Friday, Reed was notified that there were no scratches on the court. Disappointed, he still planned to enter Rich Strike into the Peter Pan Stakes. An unexpected last-minute scratch from Ethereal Road, which Dawson told ESPN on May 7, happened “about 30 seconds before the deadline,” put them under the wire.

The Amazing Wild Horses of Sable Island by Geoff Carpentier
Sable Island is a protected national park reserve overseen by Parks Canada staff

In one of the deepest fields in recent history, Rich Strike rose from 20th to overtake favorites like Epicenter, Zandon and Taiba. Leon rode the horse masterfully. He zigzagged and zigzagged through heavy traffic after a rocky start, skirted the rail, picked up some significant ground and passed the competition at the end.

“I never dreamed I would be here,” Reed said. “I never thought I would have a Derby horse. I never tried to go to the yearling sale and buy a Derby horse. So that was never in my plans… It’s a horse race, and anyone can win. And the dashboard means nothing.

He, along with Leon and Dawson, enjoy a spotlight they never expected to shine on them.

In a sport that was crushed after Medina Spirit’s disqualification at last year’s Derby, this was the feel-good story horse racing needed. It would also get national attention if Rich Strike actually won the Triple Crown.

This is a little ahead of us, of course.

For now, let’s enjoy this rich moment in horse racing history when the roses hit an unexpected target and had the world cheering in unison.

Michael Taube, a syndicated Troy Media columnist and Washington Times contributor, was a speechwriter for former Prime Minister Stephen Harper. He holds an MA in Comparative Politics from the London School of Economics. For interview requests, click here.


The opinions expressed by our columnists and contributors are their own and do not inherently or expressly reflect the opinions of our publication.

© Troy Media
Troy Media is an editorial content provider for news outlets and its own hosted community media across Canada.

]]>
‘It’s a Minnesota thing’: Canoe racing’s popular past ties in with the present https://asso-sable.net/its-a-minnesota-thing-canoe-racings-popular-past-ties-in-with-the-present/ Thu, 05 May 2022 22:01:56 +0000 https://asso-sable.net/its-a-minnesota-thing-canoe-racings-popular-past-ties-in-with-the-present/ When paddlers of all abilities glide down the Mississippi River for a weekend of canoe races in early summer, they’re diving into an activity that has traversed state waters for generations. Canoe racing doesn’t get the ink of other big sports like the Minnesota Twins or even related recreational activities like Boundary Waters Adventures – […]]]>

When paddlers of all abilities glide down the Mississippi River for a weekend of canoe races in early summer, they’re diving into an activity that has traversed state waters for generations.

Canoe racing doesn’t get the ink of other big sports like the Minnesota Twins or even related recreational activities like Boundary Waters Adventures – but in simpler times it generated front-page material for the masses.

The 83-year-old Minneapolis Aquatennial summer celebration played a major role. His 450-mile Paul Bunyan “canoe derby” from Bemidji to Minneapolis was widely acclaimed. His arrival, too – when exhausted paddlers floated through town – marked the official start of the Aquatennial. The marathon made canoe racers like Tom Estes and Eugene Jensen into sporting stars in their own right.

Their predecessors also attracted a lot of interest according to published accounts. The 1941 Paul Bunyan Derby was won by two Chicagoans, Howie Oslund and Bob Robinson, who arrived in nearly 66 hours, their final sprint watched by 100,000 people lining the banks of the Washington River at Franklin Avenues.

Canoe racing ended in the early 1960s, but racing? Far from there. It’s a heritage activity with a loyal base — like fishing or hunting or Nordic skiing — that helps define the state’s outdoor life. Front-page headlines have faded from memory, but the desire to take the plunge in the state and across North America continues unabated.

Longtime friends and paddlers Scott Miller and Todd Foster have a ready-made audience for their new events in June, but they’re also hoping to attract newcomers. Both channeled their passion for canoeing long distances into the two-paddle canoe and kayak races June 10-12 on the Mississippi River.

Two Paddles includes multiple runs, ranging from 140 miles (from Brainerd to Coon Rapids) to 7 1/2 miles. The main event, called the MR 140, begins on June 10 and features nighttime paddling and portaging, in line with other national canoe races – obscure to the general public but revered in the tight-knit canoe racing community. . Currently, there are 58 registrants for the MR 140 from 15 states and Manitoba, Canada, Miller said, and among them is a paddleboarder. Racing solo, tandem or in teams, they will finish at Coon Rapids Dam Regional Park, the ultimate end point for all Two Paddles events on June 12.

The race weekend also includes the MR 48, MR 25 and MR 10 (mile) races, formerly the Mighty Miss races hosted by Roland Ring-Jarvi.

The 7 ½ mile event is considered a recreational outing and includes shuttle service. Participants will paddle from Coon Rapids to Minneapolis and be driven back to the regional park and post-race party.

Miller loves making headlines. Last year, he and three others attempted to break the speed record for a paddle of the Mississippi River from start to finish – from Lake Itasca to the Gulf of Mexico. (He and a new team will make another attempt in 2023 after the 2021 trial capsized – literally – hours after reaching New Orleans.) Miller is also a veteran of high-profile races like the Missouri 340, the most the world’s longest continuing paddle race and, he says, its “egalitarian” approach that draws small river towns into favor. That vibe of all comers, even in something so grueling, inspired Two Paddles weekend, Miller said, and what it could become.

But Miller also looks back, with a nod to the glory years of Minnesota racing like those of the Paul Bunyan.

“I feel that we are reviving this a bit, he added.

The race to the heart

The Minnesota Canoe Association (MCA) also wanted to participate in the Two Paddles weekend. He’s hosting (and finishing details) a “high school championship” for teenage canoeists and kayakers on June 12 and also at Coon Rapids Dam Regional Park.

MCA’s involvement is relevant since the origin of the group is canoe racing. Friends in 1961 formed the MCA while seeking to band together around their business and grow as runners. Today, it remains rooted in racing while offering lessons in areas like kayaking and whitewater canoeing, said President Emily Broderson. There are 305 members.

Like any sport, training is the basis of the MCA. There are weekly get-togethers and even Rookie nights in the summer to focus on things like efficient swimming technique, how to handle racing canoes built for speed, and how to hone strategies like the writing of others.

They use the Rum River at Anoka, areas of Mississippi, and the Rice Creek Range at Lino Lakes, among others. And this summer, a tradition will resume after a pandemic hiatus: Hoigaard will host Thursday night training on the Chain of Lakes in Minneapolis.

All of these efforts will also propel Minnesota riders into out-of-state events. The sport’s triple crown is coveted: the General Clinton Canoe Regatta, a one-day 70-mile race on New York’s Susquehanna River in May; the Au Sable River Canoe Marathon, 120 miles on the Au Sable River in Michigan in July; and La Classique, aka The Classic, on the Saint-Maurice River in Quebec, 125 miles and three days in September.

Anoka’s Steve Peterson is a familiar face at MCA outings, a direct link to the long range of Minnesota canoe racing. Peterson’s father, Irvin (aka Buzz), rode several Paul Bunyan derbies and traveled to Canada to race. His dad was a bow paddler, and Steve was next in line if a sparring partner was missing. Peterson remembers jumping back when he was 10 years old.

Peterson said the competition was just as intense out of the water, with pioneers like Jensen focusing on designing the fastest canoe or creating the lightest paddle. Wenonah Canoe retired several Jensen-designed models that are still go-to boats among racers.

Peterson’s racing resume includes events across the country and in parts of Canada (including all three before they were linked as the Triple Crown). He and his wife Bonnie paddled the Classic in 1977. Bonnie was the first woman at the time to compete in the race.

The racing lot is a separate breed, he said. Paddling comfortably in boundary waters, it is not.

“You need a certain person,” Peterson said, “because it’s hard.”

While the intensity and skill involved are timeless, the makeup of the runners has diversified over the decades. More women in the sport have made it better, Peterson said.

“We really like each other…there’s a lot of socializing rather than fighting,” he added.

Broderson, the president of MCA, agreed on camaraderie. She said the common DNA of active members, whether they commit to training every week or are part of the pocket that races in North America, is the level of investment.

And that partly helps explain the longevity of canoe racing years after the bright lights of public celebrations have faded.

“It’s a Minnesota thing,” she said.

]]>
9 Women Who Managed Monster Heels https://asso-sable.net/9-women-who-managed-monster-heels/ Fri, 01 Apr 2022 07:00:00 +0000 https://asso-sable.net/9-women-who-managed-monster-heels/ Throughout the history of professional wrestling, the role of women has been to manage male wrestlers. Some wrestlers who cannot speak on the mic need a spokesperson willing to generate more heat on the wrestler. There’s no doubt that some monster heels can talk on the mic, but having a manager by their side makes […]]]>

Throughout the history of professional wrestling, the role of women has been to manage male wrestlers. Some wrestlers who cannot speak on the mic need a spokesperson willing to generate more heat on the wrestler. There’s no doubt that some monster heels can talk on the mic, but having a manager by their side makes the act that much better.. In WWEthe Sensational Sherri and Randy Savage were the perfect double act of a male and female partnership.

RELATED: 5 Female Champions Who Were Best At Wrestling (& 5 Who Were Best As Managers)

Some valets have benefited from their managerial debut as they have become exceptional performers in the ring. Unfortunately, some monstrous heels failed to live up to the hype and found themselves lost in the shuffle pretty quickly.

9 tori


Tori & Kane 2000 Cropped

Tori joined WWE in early 1999, and she was an obsessed Sable fan. However, Tori was not a good performer in the ring and she failed to snatch the Women’s Championship from Sable and Ivory. In the fall of 1999, Tori entered into a relationship with Kane. The Big Red Machine was one of the most dominant monsters from the time it stepped foot in a WWE ring in 1997.

Kane changed his face in 1999 and, having Tori by his side, showed another side of Kane. They had great chemistry together, but Tori loved X-Pac after they left together over Christmas break. In early 2000, Tori turned her back on Kane and she kicked off her relationship with X-Pac by joining D-Generation X.


8 Ivory


Ivory 1999 Cropped

Future three-time WWE Women’s Champion Ivory was introduced as Mark Henry’s love interest in early 1999. Ivory managed Henry and D’Lo Brown for their WWE Tag Team Championship match against Owen Hart and Jeff Jarrett at St. Valentine’s Day Massacre: In Your House. Unfortunately, she failed to take them to the titles.

Nonetheless, Ivory was an established in-ring performer, and she defeated Debra for the women’s title in June 1999. When Ivory joined Right to Censor a year later, she occasionally accompanied The Goodfather and Bull Buchanan in the ring. Both Goodfather and Buchanan are big men, but she was better suited to competing inside the ring. She was a major asset to the group because she could easily cut a promo and she could gain heat.

THE SPORTSTER VIDEO OF THE DAY

7 Kelly Kelly


Kelly Kelly and Mike Knox cropped

At just 19 years old, Kelly Kelly became one of WWE’s youngest female talents at the time in June 2006. She was a member of Extreme Expose alongside Layla and Brooke. Kelly Kelly was hugely popular on ECW, but she managed Mike Knox, who was a jealous boyfriend of hers.

RELATED: 10 Things About Kelly Kelly’s Career That Made No Sense

He didn’t approve of Kelly Kelly’s antics at all. Nonetheless, Knox was built as a monster on ECW but he didn’t have much success in WWE. He challenged for the World Heavyweight Championship inside the Elimination Chamber at No Exit 2009 but failed to win the title. Once Kelly Kelly and Knox broke up, she continued to have success in WWE and won the Divas Championship in 2011.

6 Arielle


Ariel and Kevin Thorn cropped

Shelly Martinez joined WWE in 2006, and she was part of WWE’s revamp of ECW. She acted like a vampire called Ariel. She was originally supposed to manage Kevin Thorn and Gangrel in a faction of vampires, but she ended up managing Thorn. Thorn was repackaged as he failed in his role as Mordecai in 2004.

Ariel and Thorn had great chemistry together and their relationship was scary. They joined Elijah Burke’s New Breed faction in 2007. She left WWE shortly after leaving the New Breed, and she later joined TNA as a valet from LAX called Salinas.


5 lana


Lana & Rusev cropped

In 2014, Lana managed Rusev, who was an unbeatable monster heel. The Bulgarian Brute was incredibly athletic for a man his size. Rusev defeated Sheamus for the United States Championship in November 2014, and he went on an undefeated run until he dropped the gold to John Cena at Wrestle Mania 31.

Lana and Rusev had great chemistry together as Lana cut promos for Rusev. She spoke with a Russian accent and she did a great job convincing Rusev. It’s no surprise that they had great chemistry together as they were in a real life relationship.

4 Lita


Lita and Kane cropped

Lita recovered from a serious neck injury in 2003 and was back inside the squared circle. However, she spent more time on the sidelines as she entered into a love triangle with Kane and Matt Hardy. She was abducted by Kane, and she became pregnant with his child in a disturbing storyline. The Big Red Machine defeated Matt in a “Till Death Do Us Part” match at Slam summer 2004, and so, he was allowed to marry Lita.

RELATED: Lita’s Career Told in Photos, Over the Years

Kane had been unmasked for a year, and he was still sick and demented. However, once Lita lost the baby in a feud with Gene Snitsky, Kane coped. The storyline worked, but it didn’t benefit Lita’s in-ring career as she wasn’t wrestling until the end of the year, but she tore her ACL in a Women’s Championship with Trish at new year revolution 2005.

3 Luna Vachon


Luna & Bam Bam Bigelow Cropped

Luna Vachon was originally valet to reigning Intercontinental Champion Shawn Michaels at Wrestle Mania 9. However, Luna soon dumped Michaels and she struck up a relationship with Bam Bam Bigelow. Luna was Bigelow’s “main push”.

Luna worked well with Bigelow, and the Beast from the East was one of the most dominant heels in WWE history. It’s a shame Bigelow never won a championship in WWE because he was one hell of a performer. Luna and Bigelow teamed up with Wrestle Mania 10, and they defeated Doink and Dink the Clown in a mixed tag team match. Luna and Bigelow stayed together for a year until Bigelow joined Ted DiBiase’s Million Dollar Corporation.


2 summer rae


Rae & Rusev summer shorts

Lana wasn’t the only woman to manage Rusev, Summer Rae also had the honor of managing the Bulgarian Brute in 2015. Summer was a good heel manager and she managed Fandango’s career for a short time. Unfortunately, Rae and Rusev lacked chemistry together, and there’s no doubt that Rusev and Lana were better suited for each other.

Another reason the storyline was scuppered is because Lana and Rusev announced their actual engagement together. There’s no way Summer and Rusev could continue their romance as a couple, given Lana and Rusev’s real commitment, which threw a spanner in the works.

1 Trish Stratus


Trish Stratus & Viscera Cropped

Trish Stratus is someone who benefited from management as she became one of the greatest female champions of all time. Trish debuted in early 2000, and she managed Test and Albert, who were collectively known as T&A. The trio worked extremely well together for the majority of 2000, and it enhanced Test and Albert’s skills in the ring during that time.

By 2005, Trish Stratus was firmly established as the reigning, six-time women’s champion. She got into a high profile feud with Lita, but Lita had support in the form of her husband Kane. Trish acquired the services of Viscera for backup. Although Viscera agreed, he wanted sexual advances from Trish in return. Their alliance was brutal, with Viscera turning face and crushing Trish after failing to beat Kane at Backlash 2005.


10 Things Most Fans Forget About Trish Stratus' Career

10 Things Most Fans Forget About Trish Stratus’ Career

Read more


About the Author

]]>
Immokalee Cattle Drive runs smoothly | Events https://asso-sable.net/immokalee-cattle-drive-runs-smoothly-events/ Thu, 31 Mar 2022 07:00:00 +0000 https://asso-sable.net/immokalee-cattle-drive-runs-smoothly-events/ Local cowboys and their Florida Cracker Cur dogs led a very cooperative herd of around 80 cattle down Main Street in Immokalee on a beautifully cool spring morning on Saturday. The dogs circled continuously around the herd, keeping them tight, as they passed within feet of the men, women and children of Immokalee, who loved […]]]>


Local cowboys and their Florida Cracker Cur dogs led a very cooperative herd of around 80 cattle down Main Street in Immokalee on a beautifully cool spring morning on Saturday. The dogs circled continuously around the herd, keeping them tight, as they passed within feet of the men, women and children of Immokalee, who loved every minute.

The Cattle Drive is part of the Immokalee Cattle Drive and Jamboree, held annually at Robert’s Ranch.

Preston Stokes fosters two of his Florida Cur dogs, who he says are half-brothers.






This young person rides her horse without hands.








Immokalee Cattle_2.JPG

Carrying the Florida flag before the cattle drive.


“I just help them get the cattle down,” Stokes said. “I work every day for some of these ranches. I’ve helped the Roberts family, I’ve helped the Hilliard brothers, the Alicos, some of these places. They’re some of the biggest ranches in the Southern Division here. Today “today was great. We had great weather and lots of great people, great horses, great dogs. I’m just blessed to be able to do what we love.

Sometimes the cattle get a little unruly and the Florida Cracker Cur dogs have to take action.

“We said a prayer this morning and the good Lord was with us,” Stokes said. “He kept the cattle together and did well. And the dogs did well. And we have very good help here.”







Immokalee Cattle_4.JPG

A member of the pioneering Howard family waves to the crowd.








Immokalee Cattle_12.JPG

Sherri Cleckler rides in the cattle drive.


The Florida Cracker Cur dog was introduced to Florida in 1539 by Spanish explorer Hernando de Soto. They are known as loyal and reliable companions to Florida breeders.

“They’re just a Florida Cur dog we found,” Stokes said. “They’re bred specifically for cows. What you do is say I have a good dog and Buck Henry has a good dog, we breed them. Then we take the pups in with the older dogs and they show them the route and what to do. And it goes on from there. It’s just something they’re bred for. I’ve had some of these dogs for 15-20 years. The bloodline continues. I hope I can pass it on to my children in the future.”

Cur dogs are a big part of cattle herding. Sometimes the dogs have the livestock so well managed that they make their job easy.







Immokalee Cattle_8.JPG

Generations of Immokalee residents enjoy transporting livestock.








Immokalee Cattle_13.JPG

Heather Cleckler was responsible for collecting cattle. She is a descendant of the Roberts family.


“Like here, we haven’t had to use them much,” Stokes said. “Just in the morning to set up the cattle. In the woods, when you’re in tough spots, they round them up and stand them up for you. They locate them for you and start barking and going around them. Most cattle who are mowed down by the dogs gather and stay in a group for them. If they are running fast or trotting, the dogs know to stop it, because it is about to go western most of the time.” So , they kind of shut it down before it got really bad. Dogs are a big part of it all. “

The popular Cattle Drive and Jamboree has been sidelined for two years. Collier County Museums Director Amanda Townsend was thrilled the event was back for 2022.

“Of course the pandemic canceled our 2020 campaign just one day before the event,” said Amanda Townsend. “We were devastated. And 2021 just wasn’t the time yet. We’re so happy to bring this back to the community. It’s just a fun celebration of Immokalee’s legacy. That includes, of course, our cattle industry, but also the Seminoles and their presence here. Billie Walker just did her alligator fight demo. The dancing horses will be here soon. It’s a wonderful Hispanic heritage and tradition. We really like to celebrate multiculturalism of this community and bring it together.”







Immokalee Cattle_9.JPG

Cowboys collecting cattle.








Immokalee Cattle_14.JPG

Paisley Bobey gets a lot of attention after cattle drive.


Of course, without the legendary Roberts family, the event would not be possible.

“Roberts Ranch was the Roberts family farm, Townsend said. “Robert and Sarah Roberts moved here with their nine children in the early 1900s and their Red Cattle Company became one of the largest cattle operations in all of Southwest Florida. The Roberts family donated the house and part of the acreage to the Collier County Museums in the 1990s. We purchased another property next door to have all of these 13 acres, which is listed on the National Register and also locally designated as historically important.


]]>
I have offshore funds in a foreign bank. How can I invest these offshore? https://asso-sable.net/i-have-offshore-funds-in-a-foreign-bank-how-can-i-invest-these-offshore/ Thu, 31 Mar 2022 07:00:00 +0000 https://asso-sable.net/i-have-offshore-funds-in-a-foreign-bank-how-can-i-invest-these-offshore/ Thanks for the question. Converting funds into foreign currencies is a good first step towards diversifying your portfolio and reducing risk in the face of the volatile rand. However, foreign bank accounts are notoriously poor investment vehicles because interest rates on savings accounts are extremely low. For example, a savings account in South Africa should […]]]>

Thanks for the question. Converting funds into foreign currencies is a good first step towards diversifying your portfolio and reducing risk in the face of the volatile rand. However, foreign bank accounts are notoriously poor investment vehicles because interest rates on savings accounts are extremely low. For example, a savings account in South Africa should earn around 5% per annum, while those in the UK should earn around 0.75%.

Therefore, it is necessary to transfer this money into an interest-earning vehicle, which can be done easily. Many South African-based asset managers offer offshore investment structures and have offshore homes based in jurisdictions like Guernsey or Bermuda. These institutions accept deposits in many currencies, including USD, GBP, EUR, and AUD.

Additionally, it would be in your best interest to consider how offshore investment structures can help you from both an estate and tax perspective. When considering taxation, a popular offshore investment vehicle is a global endowment. An endowment offers investors with high marginal tax rates the opportunity to invest in a tax-efficient manner. In the case of individuals, income tax and capital gains tax are 30% and 12% respectively. Dividend withholding tax (DWT) is levied at 20% for individuals.

Comparison of effective tax rates

Income tax Capital gains tax
People 18%-45% 7.20%-18%
Trusts 45% 36%
Companies 28% 22.4%
Endowments 30% 12%

Another relevant question is how these structures can help from an inheritance rights perspective.

On death, South African residents are liable for inheritance tax based on their worldwide assets. Inheritance duty is levied at a rate of 20% on an inheritance value up to R30 million and at a rate of 25% on an inheritance value over R30 million.

What is not so well known is that in the event of death, the UK and the US also levy inheritance tax on certain situated property, i.e. property which is physically located within their jurisdiction. In the UK this is known as Inheritance Tax, while in the US it is known as Inheritance Tax. Collectively, they are known as location taxes. This is important to note if you have assets in either country.

In the UK, a 40% location tax is levied on assets worth more than £325,000. Any amount below the £325,000 threshold is known as the “zero rate band” and is exempt from location tax. No situational tax is levied on assets bequeathed to the surviving spouse. Additionally, if the assets are left to the spouse, causing the £325,000 exemption to remain unused, the exemption is transferred to the spouse. The spouse will then benefit from an exemption of £650,000 on their death.

In the United States, the threshold for situs tax is much lower, at just $60,000, with the top tax bracket being 40%. Unlike the UK, the US does not offer spousal exemptions or rollovers unless the spouse is a US citizen.

Using an offshore endowment removes any potential status issues associated with investing in a foreign jurisdiction. Instead, these funds are considered part of your South African estate, where you will pay inheritance tax ranging from 20% to 25%.

I hope I have answered your question and provided you with some tips for investing abroad. I recommend that you consult a financial advisor who can help you with your specific needs and obtain more information on liquidity, risk profile and tax efficiency.

]]>
Bureaucracy ensnares Kavango Game Farm https://asso-sable.net/bureaucracy-ensnares-kavango-game-farm/ Tue, 29 Mar 2022 09:00:47 +0000 https://asso-sable.net/bureaucracy-ensnares-kavango-game-farm/ NYONDO – A game farm has been established in the Kavango East area, but although they are opening their doors to the public, full use of the game is impossible as they are still awaiting a lease from the government. The farm, about 95km east of Rundu in Nyondo in Ndonga Linena constituency, has nine […]]]>

NYONDO – A game farm has been established in the Kavango East area, but although they are opening their doors to the public, full use of the game is impossible as they are still awaiting a lease from the government.

The farm, about 95km east of Rundu in Nyondo in Ndonga Linena constituency, has nine giraffes, 115 elk, 55 kudu, 85 oryx, 45 waterbucks, 29 sable antelope, 38 Burchell’s zebra, 145 impala , 55 blesbok, 11 ostriches, six springboks, 12 warthogs, 15 gray duikers, 15 steenboks and 45 vervet monkeys. All the animals roam freely in their natural habitat, like in a game park.

“We didn’t realize that acquiring a lease took so long. It was a major setback,” said Ralf Walter, who partnered with a local farm owner to raise game.

“We’ve put in huge financial inflows, and we’ve been waiting for almost four years now. We will continue to bring more play and from May we will bring in learners from different schools to educate them about the game.”

Walter also owns the Mahangu Safari Lodge in the Divundu area.

He moved to Namibia from Germany in 1983.

Without a lease, owners cannot sell game meat, cannot obtain hunting and sales licenses, and no trophy hunting activities are permitted at this time.

“I met Walter five years ago, and he was looking for a farm where he could partner with the owner to raise game for economic reasons. I told him I had a farm, and I liked the idea that if he could bring in the resources that we could, and we decided to go ahead,” said farm owner Valentinus Shindimba.

“I took it to the traditional authorities, they supported the idea, and here we are. The challenge is just getting the new lease.

The game is kept on a portion of 3,000 hectares of the farm, while a plot of 2,000 hectares is reserved for breeding.

At the launch of the Kavango Game Breeders Farm, Selma Angolo, the Department of Environment’s wildlife management officer for the two regions of Kavango, noted that having a local game farm is not only prestigious but an asset to the region, and the management of natural resources through conservation practices is essential.

She added that there was no doubt that this farm would be exemplary.

“Opening its doors will allow our closest communities, especially schools, to come for environmental education. Students from higher education institutions (local and international) can also research vegetation or animal behavior on the farm,” she noted.

Angolo further pointed out that game farming will create jobs for locals.

“Sustainable use of game through on-farm hunting practices will benefit the community by having access to purchase game meat. However, regarding the use of game on the farm, it is made impossible because the farm does not have a lease. Therefore, as a ministry, we are unable to issue hunting licenses and also complete the registration process for this game farm.

One of the concerns is that the game population on the farm will increase dramatically and if left unchecked or managed, some animals could start dying off due to interspecific and intraspecific competition for resources. It is therefore extremely important that the farm obtains a lease so that the benefits can start trickling down to the farm and to the communities,” she continued.

Angolo said as stakeholders there is a need to support and strengthen relationships with the farm owner and his team through conservation efforts for the benefit of future generations.

Kavango East Governor Bonifatius Wakudumo, in a speech read on his behalf by his personal assistant Andreas Haingura, said the growing influence of trophy hunting and the wildlife industry may be a significant contributing factor to regional economy and growth because through this process employment can be created as is done in other parts of Namibia.

“I have been informed that you have also invited learners as well as traditional leaders to this event. I really appreciate your initiative as it signals the fundamental aspect of safeguarding our environment, which includes wildlife and our natural resources,” he added.

“It is thanks to our traditional rulers that we have this environment today, and it is thanks to the dedicated youth that our environment will be protected for future generations,” Wakudumo noted.

On behalf of the VaGciriku Traditional Authority, Senior Chief Festus Shikerete said the traditional authority welcomes the investment in his jurisdiction.

“We are grateful because this farm will be there to educate our children about different animals. This project will eradicate poverty through the employment of young people who have remained at home without work. We’re glad you’re meeting the government halfway through the fight against poverty. This area was once the hunting ground of our deceased traditional chiefs who reigned in the past. During their time, many wild animals were in this area,” Ndonga Linena Constituency Councilor Michael Kampota said at the launch.

– jmuyamba@nepc.com.na