If you earn more than a salary, if you have your own company, want to invest money overseas, or if you own more than one property, it’s better to ask an expert to help you with your taxes, says Marais. Did you know that you may have to pay tax if you inherit money or assets? And property tax can also get tricky.
“You obviously want to pay as little tax as possible, so it is important to understand what kind of taxation you're dealing with, what the specific tax implications are, and how to go be compliant,” she says.
“It’s not about tax evasion but about making clever choices. There are various products and tools you can use to help you save on tax.”
First, says Marais, there are tax-free savings accounts.