For those employed


Morning

You can contribute up to 27.5 percent of your taxable income toward your retirement annuity. For the gov or those where pension is deducted pay attention

You only contribute 7.5 percent toward your pension. Gov or employer contributes 13 percent.....

There is a balance of 7 percent to make 27.5 percent. If you pay extra 7 percent above you can save tax you pay at the end Max tax is now 45 percent 

For The Entrepreneur 

You can use the full 27.5 percent of your taxable income as way of reducing tax by end Feb 2018 for e.g you can pay a lump sum or pay monthly. MAX per year is 350000.00 divide by 12  for monthly payment.

Med aid contribution also reduces tax. Tax free Investment can be RA booster pr pay kids varsity fees ....ie 33000.00 per year up to 500000.00 tax free

DNI Business 

Www.drnkhumeleni.co.za


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