TaxTim, which helps you to complete and file your tax returns online with the help of a digital tax expert called Tim, now offers a personalised tax health score report free which could help users pay less tax.
The score is the result of an in depth automated analysis of an individual’s tax return. It makes recommendations on how to improve tax health for maximum tax efficiency.
“For the first time, taxpayers will have a report card reflecting where they can improve their tax affairs and maximise efficiency. This will help both taxpayers and tax practitioners who want a simple set of recommendations after completing a return,” says Marc Sevitz, co-founder and CFO of TaxTim.
TaxTim’s tax health score will supply all the information needed to optimise tax deductions, minimise tax liability and maximise potential refunds to become tax efficient. It is suited to both simple and complicated tax matters for individuals. The score can be shared with a financial advisor to help people save more for retirement or other needs.
Tax practitioner, Chloe Blumberg, director of the Finance Studio comments: “The TaxTim health score is a useful tool which will assist taxpayers to maximise refunds due from SARS or alternatively to optimise their tax structure and legitimately reduce their tax bill. It can also serve as a trigger for taxpayers to know when it’s worth their while to contact an advisor for assistance with tax deductions.”
If a taxpayer uses TaxTim each year to file tax returns, they will be able to improve their score and ultimately become totally tax efficient.
“Our vision with TaxTim is to provide human-like tax expertise at scale using technology, so that everyone can benefit. We are excited to launch the next evolution of this, which is an easy to read, actionable tax plan,” says Evan Robinson, co-founder and CTO of TaxTim.