10 Legal HACKS To Save Taxes In South Africa!

So basically, f** SARS!!!

I have a question. I paid medical expenses out of my pocket. Claimed and got refunded by the Medical Aid but it it not reflected on my Medical Tax Certificate. Should I put the correct amount on my return ?

In short the state is built to exploit the people

If Frikkie were a contractor working from home, could he register a bisness and put all his expenses through said bisness? Would he be able to reduce tax even further, because company's are only taxed on profit? If he were vat registered he might even be able to get a bunch of that money back? or am i misunderstanding?

Your eyes are so nice and blue. I didn't hear a word you said.

I'm a foreigner living in SA, earn in rand and pay taxes here, learning about SARS is probably the most important skill to learn here 😂

What a champ!!

Taxation is theft. We likely have the highest tax burden globally- as this government offers us nothing for our taxes, we have to fund everything privately including now water, solar, schooling, private security, private fixing of potholes, private medical care etc etc

Tax wealth, not income.

The savings are a joke of anyone earning over R250k pm

Pay tax. Proceed to drive through 27 potholes with 0 streetlights working. Sounds about right

Hey Money Marx, so if we have money sitting in the bank earning money market interest, what should we invest in if we maxed out the TFSA and contribute to an RA? ETFs or UNs? I'm not sure. Should we get a financial advisor or invest in an investment platform like Sygnia or EE? The cost of having a financial advisor investing in UNs ate away the gains so we personally didn't see a benefit to that, please correct me if I'm wrong. Thanks

Great job helping all the Frikkies of the world! The earlier Frikkie learns how money works, the happier he and his family will be later in life.

This is so complicated. I literally have no idea what you said. I'll have to literally listen to this 100 times, and slowly. This was a lot of info in a short time. We all need to go on a tax course

As a Norwegian living in SA with an SA wife and child I have a plan in place to move the family to Europe for retirement and spend over half the year there to avoid the estate tax when I pass away. Estate tax is not common in most European countries.

Other observations as a foreigner living in SA is that the property tax here is 4-5 higher than my property tax in Portugal and Norway does not have property tax. Same goes for water and electricity.

Transfer duty, bond registration and real estate agents are also several times higher in SA, which doesn`t make sense to me.

On top of the income tax etc. I have to provide for private schooling and security (levies) which would not be the case in my home country and adds to the effective "tax rate".

On the plus side the VAT is lower which makes many things such as petrol/diesel lower. Road use cost is low (no toll roads). Labour is cheap.

The main thing is we get taxed so much that we feel we are working for SARS, and this is I think only 8% of the Country that pays taxes, and then the anc comes and loot and waste all our money, I am gatvol of this

Crypto CGat is actually 12+ months.

😢we were taught by usa on how 2 tax citizens😢

I have no idea what you are talking about. Do you have videos that a bit more simple ?

This is great. And soo educational. But the tax is too much in South Africa. Period. I wouldn’t mind the high taxes we pay if we didn’t have to pay for transportation, security, healthcare, education, clean water, solar… the basic things a government should do with our tax isn’t working.

ALL TAXES ARE ARE A FRAUD AND A SCAM. PERIOD.
People should boycott all taxes.

Can you make a video on trusts, the different types of trusts in South Africa, and what trusts someone can register and with which institutions to manage assets like company shares or ownership, properties, etc

DOGTOR PETE returns as a financial planner :)

wouldnt it be better to be in debt since debt is non taxable

This video provea how much tax is a scam,this is not the way to live!

Why is this man talking Greek?

The most disgusting thing this government is doing to its retired citizens is taxing them to the grave. This is relevant for those who earn a pension from GEPF ( Government Employees Pension Fund) . We pay taxes during our employment years until the age of 65 years. I will not talk about tax benefits I have not seen since I find criminal for SARS to tax one for having a separate additional retirement annuity or widows fund over and above the GEPF pension. This government 's taxation system is designed to make the ordinary citizen die in porverty. We are told all the time to save for old age but SARS also wants a piece of one's life long sacrifice - saving to live comfortably and working for an ungrateful government that hoards trillions at IPC, listing it on the JSE to grow the fund, sometimes making bad investments with peoples money. ( eg Steinhoff and other losses) When does one retire from being taxed, really? It iis so annoying to watch government squander our taxes on illegal immigrants, corruption and all other programs that benefit only their cronies by giving them lucrative tenders, one person being on many boards of directors earning easy money at the expense of the citizens. This governmrnt is just dusgusting. We work for the government for an average 40 years and come out with a pitiful pension which they tax to bare bones and the continue to tax one to the grave

Vote for no income tax?!?!? YES!!!

Terrs in government, they have to steal,

Pieter iets nuuts. All things being equal. What's the payoff between keeping eg R300000 in a safe rather than a bank and use it accordingly and save on being taxed on interest or taxed by inflation. Make a short summation please.

If the government can steal money from taxpayers we are paying too much tax

Hi. No matter how much you try to save . The money the government feels entitled to ...is exactly what they get, and if you find a way to short change them, you will be charged with tax evasion . We all know how broke the cyril cadre admistration claim to appear but earn lots of money through tenders and BEE as a money laundering scheme to eat our tax money. Let's not forget that there is a mafia entity in everything headed by the cyril Cadre communist family. Have you ever wondered how there have been lawsuits of price fixing and companies were fined, eg, the price of bread and the very consumers who were the victims paying those heafty prices were informed of such scams yet they never benefited off those findings (all that money whent directly to who ? ) imagine going to purchase something at s store, and later finding out that you were overcharged. You take your receipt back to the store, and they tell you that they can not reimburse but they will credit the special account that they have created that will go towards government expenditure because they implemented that law and fought for your rights to save you money. On another topic. We are all aware that no matter how bad service delivery is , how bad infrastructure is , how bad corruption is , how much money is generated from BEE, and senseless tenders, that are the very reason there is so much unemployment and a lack of trust becsuse of these selfish deeds that outside investors refuse too invest in our country. The same traitors and sellouts will get a very huge increase because they claim that they are responsible for our freedom and our country belongs to them and we owe them because we live here. And let's not forget that if we want to coexist, we must be silent and feed their greed because if we speak out against their corruption... we are public enemy number 1 more, especially if there is proof that leads to investigations 🔎 that proof will be called allegations, and you stand a huge risk of getting murdered because you are an impimpi (whistleblower) the sooner we hold them accountable and aknoledge that this is state capture (treason) by comunist who want total control of everything, will be the very time that we respond accordingly.

We need a banking reform the banks obviously share info with the state this is a very oppressive organisatiin

This is exactly why you should buy gold in the form of coins and bars and keep it in a safe ... When you sell gold you don't pay tax but if you sell silver you pay tax on it

Limit the tax to VAT only, increase the rate but then we should get the same benefits as Sweden. Anyone over retirement age should be exempt of all taxes.

7:22 how exactly do you get this back from SARS, by submitting an IRP? Or do you have to get some kind of certificate or proof from whomever your RA is with that you've contributed X amount in the year?

Tax rate in SA is 45% plus all the hidden and extra taxes and what do we get for it.Almost nothing?
The unwritten law of the ANC is to empower black cadres and to get rid of the whites The future for middle class blacks look bleak.
They will pay more tax and consequently hide money ( the govt will get less )and the taxpayer will get less from incompetent cadres

Frikkie, THANX for a simplified, concise explanation. Useful

They are scrapping the medica aid rebates after the 2026 YOA

Making things simple, ay medical aid directly, pay bond directly, groceries cash. Keep your cash under your mattress.

Your video is appreciated, Bro. We often need a South African to explain this properly with enough information.

Why is medical aid a deductible, but medical insurance isn't? I can't afford medical aid so I have medical insurance which is a product aimed at those of us who, for example, don't have a medical aid from their employer, or who can't pay the prohibitive medical aid rates. Why do we therefore not get a rebate?

7% of people are paying tax so it just goes up! We should get 1 vote per R100 income tax we pay and then vote!