Are you aware of the tax benefits that come along with taking out a retirement annuity and medical aid?
You can get up to a 27.5% deduction on your taxable income when you take out a retirement annuity. The maximum contribution can only be R350 000 per annum.
As well as contributing to a medical aid will give the client a tax rebate of R310 per month for the main member and the 1st dependent and then R209 per month on further dependents for the year.
5 thoughts on “Tax Benefits”
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