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If you are employed and receive a travel allowance from your employer, you are able reduce your taxable income by claiming a tax deduction for the fuel you bought and maintenance costs. This quick “Travel tax deduction calculator” calculator shows you how much you can claim.
Retirement annuity contributions are tax deductible in South Africa. That means, you pay less tax when you invest in a retirement annuity. However, are they really worth it for everyone? If you earn R7 500 per month, do you even qualify for any tax deductions? What about if you earn R40 000 per month? What about R100 000?
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