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Tax season is upon us which means it’s time to find ways to minimize your tax burden in the most efficient way possible. Although there are many ways to optimize your tax deductions, a retirement annuity may be one of the most beneficial vehicles to save on tax.
Many South Africans may be wondering how to make the most of their retirement annuity, especially as the end of the tax year approaches.
South African residents and ex-pats have until the 28th of February to take advantage of a government incentive aimed to encourage them to save for their retirement using a retirement annuity (RA).
We cannot stress enough the importance of having a retirement annuity or another form of savings or investment to finance your years of retirement.
As South Africans, we are faced with a plethora of challenges which make providing for our retirement relatively tricky.
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