Budget strengthens saving for retirement, says Sanlam
The changes include the increase in the annual tax-deduction cap, and new annuitisation and living annuity commutation thresholds.
#taxfreesavingsaccount
February deadline for lowering your tax bill and growing your savings
Contributing to an RA and maxing your tax-free savings account are the fastest ways to reduce taxable income while building tax-efficient wealth.
Treat your tax refund as your money returned – not a bonus
Every rand overpaid to SARS is an opportunity cost. Allocate refunds to debt repayment, savings, or retirement contributions for greater long-term benefit.
