African Melane finds out how to do it from Certified Financial Planner Tsungai Masendeke.
- Submit your Retirement Annuity Tax Certificate and you will get money back once you submit a tax return
- Submit your Medical Aid Tax Certificate
- Invest the money you get back in a tax-free savings account
Tsungai Masendeke, certified financial planner, financial literacy, and inclusion advocate talks us through how you can earn a 13th cheque from Sars this tax season.
1. The first way to get money back from the receiver of revenue is to submit your RA or Retirement Annuity Tax Contribution Certificate.
Regardless of whether or not you actually earn more than R300,000 per annum and would ordinarily not need to do your tax submission, if you have a Retirement Annuity, make sure you do submit your tax returns because some fantastic news is when you contribute to your retirement annuity the contributions are tax-deductible.
Tsungai Masendeke, Certified Financial Planner
These tax-deductible retirement annuity contributions …