Tag Archive: tax year timelines

Month of Tax Year Timelines

This month I have listened to fund managers from Investec, Coronation, and then personally met with the consultant from Sarasin managers in London. I’ll write a bit more about these in the weeks to come.

We’re in the month of a couple of tax timelines. For some, provisional tax time. I paid mine yesterday morning. Let’s hope it gets channelled with greater ethical direction going forward….

It’s also the month to maximise investment contributions that give us a tax deduction. Like into our retirement annuities. I also did mine yesterday. The catch is you’ve got to have the cash hanging around to be able to do it. Requires having needed to save during the year.

My accountant moaned at me recently when we were finalising my 2017 return. She said, “If you had paid yourself (implying investing for yourself) X amount more in the 2017 tax year, you wouldn’t have just had to pay Y to the government.” You are correct, I said. So I’ve tried to invest more for this tax year. In essence you’re paying yourself R100 to avoid paying SARS R30 or R40. Whatever your effective tax rate might be. I have encouraged some clients to do this. Money has to reflect in the Asset Manager’s bank account by or on the 27th, next week Tuesday, in order to fit into the 2018 year.