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Save thousands with these 3 must-know tax tips...
Insider Secrets | 13 November, 2009 | Hot Topics:
Our tax system is becoming ever more complex. And many people miss out on perfectly legal ways of saving tax. Here are three quick tips that could save you thousands in tax...
1. Invest "in trust".
If you have an investment policy that will pay out on your death, ask your broker about getting your policy written in trust for someone else (your children, say).
The payout on your death will go immediately to them without forming part of your taxable estate.
2. Urgent tax query? This insider's trick gets it answered quickly
Do you have an important query for SARS? Don't wait six weeks for a written reply to a letter. Simply write "For the attention of an inspector" on the top of your envelope. If your query is important and urgent, this guarantees a speedy response.
3. Give to charity.
Any donation you make to charity is tax deductible. So make sure you include these when filling out your tax returns.
Here’s to your wealth and happiness,
Pascale Barrow
Managing Editor of Personal & Finance Confidential
PS. If you're not yet subscribed to Personal & Finance Confidential (PFC), you're missing out on crucial information to make and save you thousands every year... Don't let the economic situation get you down, get even with the advice in PFC today...
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