NEWS | Personal investing Part 1: How to be more tax savvy
Personal investing Part 1: How to be more tax savvy
If, like most of us, you would like to see more return in your account and less in the hands of the tax man, it is important to engage with the details to understand how you can maximise tax breaks.
A famous saying attributed to Benjamin Franklin reminds us that there are only two certainties in life – death and taxes. While we have little control over the first, we can be quite strategic about the second, with many legal ways to reduce your tax bill and boost your investment account.
While you have to accept that you will have to pay tax at some point, the South African government has put numerous incentives in place to encourage us to invest for the long term, while saving on our tax bill. These incentives can be very attractive, particularly when you look at how the value compounds over time.
December 14 2021 By Carla Rossouw - Allan Gray