South Africa’s new two-pot retirement scheme was designed to give members some financial breathing room during tough times, without requiring them to resign to access their savings. In short, although it offers short-term financial relief, this withdrawal benefit should only be considered for emergencies and not change how you think about your retirement financial [...]
All income tax calculators are based on the tax tables from SARS for the specific period of taxation and this is what is used to work out your tax liability, that is the amount of money you need to pay to SARS. The formula to calculate your base tax liability is simple: Base Tax [...]
While tax calculators can give an estimate of the tax you are liable to pay, they are not always 100% accurate, especially for business owners and self employed individuals. Tax calculators for employees If you are an employee, SARS provides an easy to use tax calculator that will work out your PAYE, taxable income [...]
