Tax Relief: How to Keep More of Your Money

Feel like your paycheck disappears too quickly thanks to taxes? Tax relief is all about finding ways to put a bit more cash back in your pocket. Whether you’re salaried, freelance, or running a small business, anyone can benefit from knowing how to minimize what you owe while staying on the right side of the law.

First up, deductions are your friend. Things like retirement savings, certain medical expenses, and even some education costs could shrink your tax bill. In South Africa, check out tax-deductible contributions to a retirement annuity or medical scheme. It sounds boring, but bumping up your annual contributions can make a dent in your taxable income.

Don’t just trust payroll to get everything right. Double-check the details on your IRP5 or tax certificate. A small error might mean you lose out on refunds or pay more than you should. If you spot a problem, chat with your employer or a tax consultant—catching it sooner is better than sorting out a mess later.

If you run your own gig, track every possible business expense. Vehicle running costs, data, travel, and office supplies might be deductible. Don’t just save receipts in a shoebox—use a basic app or spreadsheet. Come tax time, you’ll thank yourself for not trying to remember every single expense from the past year.

Heard about the SARS eFiling platform? It’s made tax season much less stressful for a lot of people. You can file online, track your refund, and even avoid common mistakes thanks to step-by-step guides. No need for stacks of paper or long lines at government buildings.

New parents, students, and folks supporting family members with disabilities also get a few extra breaks. Tax credits and rebates exist for these situations—if you don’t claim them, you’re just leaving money with the taxman. It’s worth reading SARS’s latest list or asking a tax pro what applies to you.

Don’t fall for tax relief “fixers” who claim they can wipe debt or guarantee refunds for a fee. SARS is strict, and dodgy shortcuts usually end with audits or fines. Stick to clear, legal methods. If you ever get confused, reach out to a reputable advisor or check SARS’s website for updates.

Staying organized is half the battle. Throughout the year, scan your documents, tally your medical and business expenses, and stash everything in one folder. Next season, you’ll spend less time searching—and more time enjoying that bit of extra cash you get to keep.