Take control of your tax before the year ends

Many South Africans only start thinking about tax when July arrives, but the real opportunities to save appear much earlier. February marks the end of the tax year, and with the right planning, you can reduce your taxable income, boost your chances of a refund, and improve your overall financial position. From topping up retirement annuities and maximising tax-free savings accounts, to timing asset sales and claiming deductions, this is the month to act. Gugulethu spoke to a tax expert, Reeona Chetty, Head of Advice, Vouch about the key steps every taxpayer should take before the year closes.