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Minimizing tax liability

Posted 13 April 2017 under Tax Q&A


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Nawaaz says:
12 April 2017 at 21:24

At the end of the current tax year my taxable income will exceed R1.5 million largely due to income from an employee share option scheme. My income comprises salary only. And from the normal statutory deductions I contribute to a retirement fund and retirement annuity. Apart from maximizing my contribution to retirement funds, how else could I reduce my tax liability?

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TaxTim TaxTim says:
13 April 2017 at 11:40

Unfortunately, SARS won't allow you to claim any further deductions other than retirement, medical, accounting fees (if you pay a tax practitioner to do your tax return submission) and wear and tear (should you use your personal assets such as mobile phone, laptop, pc etc.) and home office expenses (if you work from home at times).


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Need help
submitting your
Tax returns?


TaxTim will help you:

 Do Your Tax Return Easily
 Avoid penalties
 Maximise your refund

Tim uses your answers to complete your income tax return instantly and professionally, with everything filled in in the right place.

Let Tim submit your tax return direct to SARS in just a few clicks!

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