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Monday | 22 November | 2021 It’s vital to note tax liabilities if you receive income from two or more sources

By Anja van den Berg Employees’ tax (PAYE) is routinely deducted by the employers or retirement funds. However, SARS reminds taxpayers who receive income from more than one source of employment or annuity that the PAYE may not be enough to cover their final tax assessment. SARS explains the South African tax system is based on the principle of adding  … Read more

Monday | 22 November | 2021 Tips for first-time homebuyers: How to save and budget

By Nico Strydom Buying a home for the first time can be daunting as there are so many factors to consider. For many young South Africans, buying a house is not necessarily a possibility seeing as their salaries are too small to secure a home loan, or because they do not have thousands of rands lying around to pay transfer  … Read more

Monday | 15 November | 2021 Financial risk analysts demystified

By Dr Eugene Brink With all the hurly-burly and rapid changes in the economy and business environment, measuring financial risk is a big priority nowadays. That’s why organisations appoint specialists called financial risk analysts to advise them on this topic. “Risk Analysts work closely with the organisations to check the financial risks, i.e. from company costs to investments and focus  … Read more

Monday | 15 November | 2021 Fuel is going to cost you

By Emsie Martin Driving around unnecessarily is now becoming a luxury. Consumers are facing a huge increase in the price of fuel, which means that you will have to delve deep into your pockets. Depending on the data released by the Central Energy Fund (CEF) on 14 October, motorists are now going to pay approximately R19,30 per litre for 95  … Read more

Monday | 15 November | 2021 Yes, rental income is taxed!

By Emsie Martin With all the setbacks we’ve had the past year you have decided to lease your house and rather earn an extra income, or perhaps you want to buy a property with a view to leasing it. But how is it going to affect your tax? When you do your financial analysis you must, of course, also bear  … Read more

Monday | 15 November | 2021 This is how to get rid of debt

By Marli Naidoo The Covid-19 pandemic wreaked havoc with many people’s finances. It has been found that the income of eight out of ten households has been negatively affected and that 14% of all adults have lost their jobs. People are struggling to pay their bills and are taking advantage of payment holidays offered by the banks and other institutions.  … Read more

Monday | 08 November | 2021 Three ways that sole proprietors and commission earners can pay less tax, legally

By Anja van den Berg Compared to a full-time position, owning your own business or working for a commission come with a fair amount of stress. One of the silver linings, however, is that there are a few – legal! – ways to pay less tax. TaxTim says that sole proprietors or commission workers need to differentiate between tax evasion  … Read more

Monday | 08 November | 2021 Stop living from month to month

By Marli Naidoo Everybody likes to go through the month easily and also to have a nice bit of savings in the bank. This is easier said than done. It happens regularly that we just scrape through. In many cases it is impossible to save because you just don’t have enough money. In other cases, however, there is enough and  … Read more

Monday | 25 October | 2021 Amidst Covid-19, can insurers reject claims from clients with expired driver’s licences?

By Anja van den Berg Covid-19 has put driver’s license renewals on hold for many people. Motorists across the country frantically rushed to beat the initial cut-off date for renewals set for the end of August 2021. Over the past few weeks, the urgency to renew licenses has led to panic, delays, and an even worse backlog. The government has  … Read more

Monday | 25 October | 2021 Three ways to legally pay less tax in 2021

By Anja van den Berg There is simply no getting around paying your taxes – who wants to be on the wrong side of the law? However, there are some perfectly legal ways to reduce the total tax you owe from your income. TaxTim offers a few helpful tips below: Contribute extra towards a retirement fund Contributions towards retirement funds  … Read more

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