You know how I bang -on about getting value for the fees you pay? 

Because fees reduce what you get to keep an compound over time?

Well tax is similar.

If you are paying more tax than you need to then you are reducing what you get to keep and compound over time too.

Best you sharpen up your mindset and your pencils.

SARS gives you many ways of reducing the amount of tax you pay either now or in the future.

Some quick wins:

• Split income – If your spouse is in a lower tax bracket, shifting income-producing assets can reduce your overall tax burden.
• Maximize deductions – Retirement contributions, medical aid credits, and even certain expenses related to earning income can all work in your favor.
• Use tax-free investments – If you haven’t maxed out your annual tax-free savings allowance, now’s the time.
• Use retirement funds – Don’t listen to the naysayers. These things are one of your best tools to grow your wealth quickly.

Here is a list of tax reduction tools can make sure you are using as effectively as possible. 

Reach out if you have any questions on the above or need help making progress in your financial life.

Email Dominic

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