Making better choices
is not always this easy

 

Tax Planning

Tax planning is a crucial part of anyone’s overall financial plan and involves finding legal and appropriate methods to minimize an individual’s tax burden.

Effective tax planning ensures that every element of a financial plan works together in the most tax efficient way possible.

The reduction of tax liability offers an individual the opportunity to maximise contributions towards future financial goals, including retirement.

Tax planning can be categorised in the following ways:

Specific Tax Planning

Tax planning with a specific objective

Long-Term and/or Short-Term Tax Planning

Tax planning that is executed at the beginning and towards the end of the financial year

Permissive Tax Planning

Tax planning that falls under the framework of the law

Tax Planning Strategies

Tax planning is an ongoing process which incorporates many different strategies, including:

  • Lowering an individual’s tax rate
  • Avoiding common tax planning mistakes
  • Reducing the amount of taxable income
  • Controlling the time when tax must be paid
  • Claiming any available tax credits

Because business owners are paying tax all year long, they should also always be focussing on tax planning.

Through tax planning, small businesses can ensure that more money is made available for investments, growth or expenses.

The same applies to private individuals who would like to maximise their current and future investments.

Olemera – Tax Planning and Financial Advisors in Johannesburg

Comprehensive tax planning falls under the scope of financial services offered by us.

As registered tax practitioners, we assist with the following:

  • Personal income tax returns
  • Provisional tax returns
  • Personal SARS disputes, objections and appeals

Furthermore, through our affiliate network with various registered accountants, we also assist with the following:

  • Company tax returns
  • New company registrations
  • VAT registrations
  • Bookkeeping and accounting services
  • SARS Audits

If you are a private individual or a business owner who is looking to incorporate efficient tax planning strategies into your overall financial plan, please feel free to contact us.

 

Understanding Retirement Benefits in South Africa

[Title]

Retirement planning is a critical aspect of securing a comfortable and financially stable future. In South Africa, there are various retirement benefits designed to help individuals save for their retirement years.

Read More ...
Posted by Gary Walker on Tuesday, June 25, 2024 Views: 309


The Basics of Retirement Planning in South Africa

[Title]

Planning for retirement is a crucial aspect of financial security, ensuring you have the means to maintain your lifestyle and cover essential expenses in your later years. In South Africa, understanding the various components of retirement planning can help you make informed decisions that safeguard your future.

Read More ...
Posted by Gary Walker on Tuesday, June 11, 2024 Views: 193


Taxation of Trusts in South Africa

[Title]

Taxation of trusts in South Africa is a critical aspect of managing these legal entities, both for financial planning and legal compliance. Understanding these tax laws is essential for anyone involved in personal financial planning or managing a trust.

Read More ...
Posted by Gary Walker on Tuesday, May 28, 2024 Views: 565