Tax return season is never the most exciting time. Not only do we have to sort through endless amounts of paperwork (because chances are, some of us forget that deadlines are coming up), but we have to actually do tax returns. However, many people often forget that there are a number of expenses that are incurred throughout the tax year that make you eligible to claim money back from SARS.
While these claims don’t necessarily always add up to a significant amount, they can easily help in terms of keeping expenses as low as possible. Some of these refundable expenses are contingent on aspects such as employment, medical aid participation or working hours.
For example, you are eligible for a refund on taxes paid on items such as medication and medical supplies purchased through registered pharmacy outlets, taxes paid on medical aid payments (either through your employer or privately), travelling allowances (depending on your agreement with your employer and the stipulations set forth in the tax code) and various other contributions made by you through tax.
Casual workers who earn less than a certain amount per year (R57 000) can claim back the amount contributed on their behalf, as any earnings under a certain threshold are non-deductible.
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