February, 2021

 

2020/21 RATES OF TAX FOR INDIVIDUALS

sarstaxes

If your earnings for a given tax year are above the tax threshold, you are obliged by law to register for income tax. You must register for income tax, if you are an individual: For the 2018 year of assessment (1 March 2017 – 28 February 2018) R70 700 if you are younger than 65 years. If you are 65 years of age or older, the tax threshold (i.e. the amount above which income tax becomes payable) increases to R110 200. For taxpayers aged 75 years and older, this threshold is R123 350.Read More


Get out of debt fast using the Snowball or Avalanche method

Debt-Free

Paying off debt can be a challenge, but could be the most rewarding feeling when its done.. There are two strategies you can use to pay off debt: The debt avalanche approach. The debt snowball method. Whilst each are beneficial,  one approach is probably less complicated to stick with and make a bigger impact on your debt repayments. Here is the way to discover which approach may work for you. Each technique requires you to list out your debts and make minimum payments on all except for one debt. The only difference between the snowballRead More