YOU STILL HAVE TIME TO REDUCE YOUR ANNUAL TAX BY INCREASING YOUR SAVINGS!
SARS will refund (or subsidise) up to 45% of your savings contributions. It’s a no-brainer!
Contributions to Retirement Funds before the end of February may reduce your taxable income and consequently your tax payable.
Provisional taxpayers who need to make provisional tax payments in February can potentially reduce tax payments by 45% of the contribution paid.
If tax is being deducted from your salary, this contribution may increase your tax refund for the year by 45% of the contribution paid.
This is a use it or lose it tax break. Your potential additional tax break for this year will be lost at the end of February!
Interested in the potential tax-reduction for the 2023 tax year?
PLEASE CONTACT US URGENTLY IF YOU ARE!
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