Don't forget about tonight's #PetrolPriceHike. #SavingsMonth #22seven

#OpenFinance puts you in control of your financial data – you can choose who to share it with. #22seven's MD, Jikku Joseph, details the latest developments in making this framework a reality in SA, and gives a preview of a more inclusive financial future: https://t.co/Qinu0rJBV4

We're hiring at #22seven! Come build awesome experiences with us, and have fun while doing it. We're looking for an iOS Developer, Backend Developer, Full Stack Developer, Product Manager and Head of Product Design. Interested? Apply on our jobs page: https://t.co/fVftgZUOmX

Truth is both @mrdfood and @UberEats both carry hidden service fees in that menus on both platforms are priced ~20% higher than the menu of the restaurant itself. This is because the merchants price their food to accommodate the fees that MrD/UberEats charges them.

Who would do such a thing? @UberEats? No, you would never....? Would you...? @mrdfood 🤣#fooddelivery #UberEATS

22seven, the app that pays you back. You can earn one of your transactions back to the value of up to R1,000 every month if you have at least one account linked to your 22seven profile and you’ve set it to update automatically. #22seven #personalfinance #budget

Introducing 22seven API and 22seven Insights - our clarion call to creating a financially independent South Africa. Read more about how these new services will enable South Africans to achieve financial confidence: https://t.co/ygyAyLeWmd #22seven #personalfinance #spendsmarter

Just took the vaccine! #WeChooseVaccination

Take control of your money and your life. Your financial freedom is in your hands. #saveyourfuture #budget #track #save #invest #FIRE #FI #personalfinance @22seven

In this week's episode @WarrenIngram interviews @jikkujoseph, Managing Director at @22seven, to find out how South Africans can manage their money more effectively using their mobile app. Listen here: https://t.co/MpdBPc9LBm @OldMutualSA

We could live better lives with more control of our own financial data. #openfinance #openbanking #pfm #fintech #customerdatarights

Open finance has become a hot topic, and for good reason! It’s all about sharing data and making your experiences simpler, better and faster. It’s your data and your future - you should have more control over both. #openfinance #openbanking #22seven #personalfinance

7. Income thresholds ie income levels before one starts paying paying income tax. (Why? SARS gives you a rebate.): Under 65: R83,100 65 to under 75: R128,650 Over 75: R143,850

6. Work from home deductions. If you primarily worked from home this tax year, you may be eligible to deduct home related expenses as an employed individual. This could be a portion of the interest on your home loan or rent.

5. You get a tax discount for medical scheme contributions. R319 per month for you and R319 your first dependant. After that R215 for each extra dependant. You may also be eligible for more discount if your medical expenses are big enough and/or you/your dependants are disabled.

4. Your capital gains exemption of R40,000. You can realize up to R40,000 in capital gains without having to pay tax. Eg Your shares increased R100,000 to R140,000. You could disinvest the shares and realize the R40,000 without paying tax. Remember to reinvest for the long term.

3. Your interest exemption of R23,800 (for under 65s; more if >65). You can earn interest every year up to R23,800 without having to pay interest on that tax. Eg You can invest up to R476,000 at 5% without having to pay tax on the interest earned in that tax year.

2. Your RA allowance. You can reduce your annual tax by investing up to 27.5% of your income or R350k (whichever is lower) into an RA. Your tax is lower because tax is charged on your income left AFTER your RA investment.

1. Your tax free investment (TFI) allowance. Future returns in a TFI are tax free ie interest, dividends or capital gains are tax free. Earlier is better when it comes to investing and you have a R36k TFI limit per year . Use it or you lose the chance to invest this earlier.

Last month of the tax year (1 Mar 2020 to 28 Feb 2021). Here are a few reminders of some tax relief options and incentives we get from our friends at SARS (see thread). #tax #taxyear #SARS #efiling