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Episode Info: ey market accounts or fixed deposits that might yield greater returns without substantial additional risk? Siphathisile When I did my articles 2017-2019, I went to the SARS website and answered questions to see if I need to file a tax return. The website said I didn't need to, I'm guessing because I earned too little. Now that I am a qualified professional I know I will have to and I have no clue where to begin...stories about long queues at the SARS offices make me keep procrastinating on going there. My company offered to pay half my medical aid. Should this affect my PAYE tax amount? Am I paying tax on my gross amount or on my (Gross plus medical benefits) ? I asking because the difference in the amount is nearly R500 and that hurts. Am I liable to pay UIF since I am not a permanent resident and I am not a citizen of south africa? Will I be able to claim if I was ever unemployed in South Africa? Shaunton Do you think it would be more beneficial to add more contributions to my RA or do you think I must open an easy equities ETF account if I want to save more over and above my TFSA and RA? Steve shared an excellent article. Reduce your tax bill in the current tax year Reduce your tax bill in the next tax year or in future tax years (any unused portion carries over indefinitely) Reduce your tax bill when you withdraw or retire from a retirement fund Help you to get tax back from SARS on your living annuity income when you file your tax return Reduce the tax bill on cash your beneficiaries may choose to take from your retirement fund or living annuity on your death Francois has an idea for a calculator to work out how much money you have left until you die. It should show you how your savings grow on a daily basis! So what must it do? You tell it how old you are and when is your birthday. You tell it to what age more or less you intend living. 8, 90,100 You tell it what your balance is of all your money and assets. It then works out how many days are left from your current day to that age and it calculates how much money you can spend per day up to that age. If you don't spend any money today, tomorrow your daily spend automatically increases since you did not spend anything today or you received interest overnight or whatever. You see your balance grow NOT monthly, but daily! Later you add on expenditures and it automatically calculates your new daily balance and so on. MacGyver I have a TFSA through FNB. I max it out every year, it's the first money I put away. However, it sits in cash in this FNB TSFA. How do I go about transferring this to Easy Equities Tax Free account so that I may invest in ETFs instead of it simply sitting in cash in my FNB account? Register here to attend Stealthy Wealth’s meet-ups....
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