MAP Accounting Services
Published by Tony Masinge ·
·
The three best ways that you can lower your taxes for 2023/2024
1. Contribute to a Retirement Annuity Fund – this is a great way to save for the future which also
means you pay less tax every year. If you are already contributing to your retirement, then it may be
beneficial to see if you can contribute a little bit extra AND save some tax money.
2. Contribute to a Tax Free Savings Account (TFSA) – A TFSA lets you save up to R36 000 per year and
grow your savings without paying tax on any of the growth your money earns. A TFSA is therefore an
effective way to save for your goals, because any interest, dividends or capital gains from your tax free
savings account will be free of tax.
3. Donate to charity – You can claim up to 10% of your taxable income for the year by donating to a
registered Public Benefit Organisation (PBO). Just remember they do need to be a registered PBO and
issue you with a valid s18A certificate in order for you to make a claim. Check with us to confirm if they
are registered.
The three best ways that you can lower your taxes for 2023/2024
1. Contribute to a Retirement Annuity Fund – this is a great way to save for the future which also
means you pay less tax every year. If you are already contributing to your retirement, then it may be
beneficial to see if you can contribute a little bit extra AND save some tax money.
2. Contribute to a Tax Free Savings Account (TFSA) – A TFSA lets you save up to R36 000 per year and
grow your savings without paying tax on any of the growth your money earns. A TFSA is therefore an
effective way to save for your goals, because any interest, dividends or capital gains from your tax free
savings account will be free of tax.
3. Donate to charity – You can claim up to 10% of your taxable income for the year by donating to a
registered Public Benefit Organisation (PBO). Just remember they do need to be a registered PBO and
issue you with a valid s18A certificate in order for you to make a claim. Check with us to confirm if they are registered,
Published by Tony Masinge ·
·
The three best ways that you can lower your taxes for 2023/2024
1. Contribute to a Retirement Annuity Fund – this is a great way to save for the future which also
means you pay less tax every year. If you are already contributing to your retirement, then it may be
beneficial to see if you can contribute a little bit extra AND save some tax money.
2. Contribute to a Tax Free Savings Account (TFSA) – A TFSA lets you save up to R36 000 per year and
grow your savings without paying tax on any of the growth your money earns. A TFSA is therefore an
effective way to save for your goals, because any interest, dividends or capital gains from your tax free
savings account will be free of tax.
3. Donate to charity – You can claim up to 10% of your taxable income for the year by donating to a
registered Public Benefit Organisation (PBO). Just remember they do need to be a registered PBO and
issue you with a valid s18A certificate in order for you to make a claim. Check with us to confirm if they
are registered.
The three best ways that you can lower your taxes for 2023/2024
1. Contribute to a Retirement Annuity Fund – this is a great way to save for the future which also
means you pay less tax every year. If you are already contributing to your retirement, then it may be
beneficial to see if you can contribute a little bit extra AND save some tax money.
2. Contribute to a Tax Free Savings Account (TFSA) – A TFSA lets you save up to R36 000 per year and
grow your savings without paying tax on any of the growth your money earns. A TFSA is therefore an
effective way to save for your goals, because any interest, dividends or capital gains from your tax free
savings account will be free of tax.
3. Donate to charity – You can claim up to 10% of your taxable income for the year by donating to a
registered Public Benefit Organisation (PBO). Just remember they do need to be a registered PBO and
issue you with a valid s18A certificate in order for you to make a claim. Check with us to confirm if they are registered,
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Copyright © MAP Accounting 2025
Copyright © MAP Accounting 2025