Tax year-end: Maximise your available tax deductions

Now is an opportune time to make sure that you’ve taken advantage of the available tax breaks available to you.

Ericjordaan, Moneyweb

2022-01-19 08:05:00 PM

[ADVISOR VIEW] EricJordaan from crueinvest shares four ways you can maximise your tax deductions for this year. Moneyweb Tax

Now is an opportune time to make sure that you’ve taken advantage of the available tax breaks available to you.

Top up your retirement annuityRemember, being an individual retirement fund, RAs provide full flexibility when it comes to the structuring of contributions. While you can structure your investment premiums to run as a monthly, quarterly, bi-annual, or annual debit order, you can also choose to make once-off lump sum investments as and when your personal circumstances allow. As such, the weeks leading up to tax year-end should be used to determine to what extent you are still able to leverage off the tax deductibility of your RA contributions.

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It is a bad option. If both TFSA (R36K) and RA (R350k) are maxed. Is there anywhere else i can channel cash & not be worried much about CGT. crueinvest I need advise please.. i have been staying with my partner for over 2 years not married nor have any marriage agreements..We considered eachother as spouses. Took out a policy and and added him under the spouse option, was i wrong?

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