Tax, Friend or Foe?

With mad season open and you finding yourself digging trough heaps of slips and invoices trying to remember 1985's new years resolution: "I'll file my slips weekly, I will keep a logbook,.......". You suddenly feel a migraine coming on. But no, it's not a headache, it's the vague memory of your tax consultants name.

Let them sort out this mess!

It does not have to be like this! Yes, by paying your tax you are contributing to this lovely country of ours, but by managing your finances properly you could get a "13th check" back from SARS. Here's how it works: You earn a salary(gross income) and pay tax on it. SARS actually only tax you on your income that qualifies as Taxable Income.
What's the difference? SARS allows certain exemptions and deductions from your gross income, and only tax you on your taxable income. Therefore see your tax return as a document that proofs to SARS that they have received more than they should. Sit with your financial planner or tax consultant and discuss these different exemptions and deductions that SARS allows.
Who knows, SARS might sponsor your holiday.