Hide
Earn under R350,000? Click here to see why you still need to file to get your Tax Refund.
CLOSE
Get Tax Deadline Reminders, News and Tips
 

We'll tell you when you need to file, along with tax tips and updates.
Try Tim Now

deductions on salary increase

Posted 29 April 2016 under Tax Questions



Blog Categories


Ask TaxTim

Got a question you want answered about tax?

Visit our helpdesk →
Anonymous says:
26 April 2016 at 11:45

My company would like to offer me an increase. I have the choice of a straight bump-up or I can choose if there are specific benefits I would like that will have a benefit for me (additional money in pocket) and that will be beneficial for them (perhaps less tax they need to pay). I earn a straight salary without any travel allowance or any other benefits that is deducted. Please advise on what would be the best for me and for them?

This entry was posted in Tax Questions and tagged , , , , , , . Bookmark the permalink.

TaxTimTaxTim says:
28 April 2016 at 11:42

Do you travel for work?


Anonymous says:
28 April 2016 at 11:45

Not much. Not every month. But when I do its also small distances. 100-300km per month at most.


TaxTimTaxTim says:
29 April 2016 at 11:54

You could consider a retirement benefit plan (i.e. pension or provident) which would be a way of saving for the future and it would also result in a tax saving as you could deduct the monthly contributions from your income.
Do you have medical aid?


Get Tax Deadline Reminders, News and Tips
 

We'll tell you when you need to file, along with tax tips and updates.

Blog Categories


Ask TaxTim

Got a question you want answered about tax?

Visit our helpdesk →