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Tag: tax

what is a tax free savings account

What is a Tax Free Savings Account

by BrendanMarch 10, 2021March 30, 2021Leave a comment

There's a lot of talk near the end of each tax year about tax free savings accounts (TFSA). Social media is abuzz with photos and comments about maxing out the contributions. But what is a tax free savings account and what…

Read More What is a Tax Free Savings Account

Investing tax, TFSA
Do I need to submit a tax return

Do I need to submit a tax return?

by BrendanMarch 7, 2021March 7, 2021Leave a comment

Tax filing season will soon be upon us. Not everyone is required by law to submit a tax return, but SARS does know where you live and most likely how much you earn, so they’ll be expecting their dues! Who…

Read More Do I need to submit a tax return?

Financial Health tax, tax return
2021 budget speech

Highlights from the 2021 budget speech

by BrendanFebruary 25, 2021March 1, 2021Leave a comment

As always, there was much hype and anticipation ahead of Finance Minister Tito Mboweni’s 2021 budget speech. The economic crisis, COVID, rampant corruption, and failing state owned enterprises. What would he do? Where will the money come from? More tax?…

Read More Highlights from the 2021 budget speech

Budgeting budget speech, tax
How to pay less tax in South Africa

How to pay less tax in South Africa

by BrendanJanuary 31, 2021March 5, 20212 Comments

It can be depressing when looking at the amount of tax we pay each month. More so when you consider that any extra money you make, through hard work and dedication, will also be taxed. You're not alone when wondering…

Read More How to pay less tax in South Africa

Smart Choices emergency fund, save, tax
What are investment policies

What are investment policies?

by BrendanDecember 15, 2020December 15, 20202 Comments

So what are investment policies? You know, those things that were sold to you about 30 years ago. Or if you're too young for that, the things that your parents took out when you were small. Probably to save towards…

Read More What are investment policies?

Investing tax
Medical Tax Credits

SARS Medical Tax Credits

by BrendanAugust 14, 2020January 21, 2021Leave a comment

Claiming for SARS medical expenses may seem complex, but it really isn’t! As long as you have your medical aid certificate (if applicable) and any qualifying medical expenses along with receipts, SARS will do all the medical tax credits calculations for…

Read More SARS Medical Tax Credits

Financial Health medical expenses, tax, tax return
Tax on your interest

Income tax on your interest

by BrendanMay 17, 2020December 1, 20202 Comments

Having recently discussed the building of an emergency fund, let's now look at the tax on your interest. Why don’t financial services companies tell you exactly what you’re going to get? In a world where performance is almost always the…

Read More Income tax on your interest

Investing sars, tax
Capital Gains Tax for retirees

Capital Gains Tax for retirees

by BrendanApril 5, 2020April 5, 2020Leave a comment

Capital Gains Tax for retirees and how it affects them when selling their homes after 30 or 40 years, when the property has greatly increased in value.

Investing CGT, tax, tax return
Preparing for the 2019 Tax Season in South Africa

Preparing for the 2019 tax season

by BrendanJuly 30, 2019December 1, 2020Leave a comment

First published in City Press The 2019 personal tax season has officially opened and one can start submitting tax returns online via eFiling or the MobiApp. This tax submission relates to any financial transactions you made between 1 March 2018…

Read More Preparing for the 2019 tax season

Financial Habits medical expenses, sars, tax, tax return
Cashing out your provident fund

Tax implications of cashing out your Provident Fund

by BrendanJune 19, 2019April 1, 20212 Comments

It’s not uncommon to change jobs every few years and at the same time think of cashing out your Provident Fund. It seems like a great way to access some “quick cash”, but is it really worth it? First appeared…

Read More Tax implications of cashing out your Provident Fund

Investing provident fund, retirement, tax
2019 Budget speech

How the 2019 Budget Speech affects us

by BrendanApril 11, 2019February 25, 2021Leave a comment

There was much hype and anticipation ahead of Finance Minister Tito Mboweni’s 2019 budget speech. Knowing some of the major challenges the country faces many were interested to see how the Finance Minister would juggle the fiscus to address issues such…

Read More How the 2019 Budget Speech affects us

Financial Health budget speech, petrol cost, tax
Submit tax return

Must you still submit tax return?

by BrendanAugust 20, 2018January 21, 2021Leave a comment

Many of us dread completing our tax returns. Not only does it seem like complicated admin, we're also afraid that we'll owe SARS money that we don't necessarily have. It is however easier than you think, and you can plan…

Read More Must you still submit tax return?

Financial Habits MoneyMonday, tax, tax return

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