Many South Africans over 65, either earning a salary or pension, assume that their annual tax affairs are straightforward. However, if you spent money on medical expenses that your medical aid didn't fully cover, you could be leaving a substantial refund on the table.
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Accepting the SARS auto-assessment without reviewing it means you might lose out on legitimate tax deductions that require manual submission.
Taxpayers who use their personal vehicles for business purposes can claim travel deductions against a travel allowance. Section 8(1)(b) of the Income Tax Act governs this process, which relies heavily on strict record-keeping.
Taxpayers who derive the majority of their income from commission are subject to different tax rules than standard salaried employees. They are legally permitted to claim a much wider array of business-related expenses against their taxable income.
Taxpayers who have a disability, or who have a spouse or dependant with a disability, qualify for an enhanced Additional Medical Expenses Tax Credit under Section 6B of the Income Tax Act. This provision offers substantial relief for severe medical and lifestyle costs.