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@s.mtambo6712
3 ай бұрын
I am an Accountant (CA(SA)) and I like your vid man, one thing I like to emphasize because people misunderstand is that tax deductions doesn’t mean something is free, it just means it’s somewhat “discounted” by whatever your tax rate is. For example if you make a 1000 deductible donation, and your tax rate is 27% then your out of pocket cost for donating 1000 is now 730, because you will have reduced your tax expense by 270. BUT, importantly, you’ve still ACTUALLY SPENT 730 from your bank. Deductions aren’t necessarily free money. And to be clear, the charity will ACTUALLY have gained 1000. Tax is fun, it’s one big game with SARS to determine who can bandy legislation better
@louisreynhardt
3 ай бұрын
Thank you very much for adding value in the comments. I appreciate your input. I am a big believer that your accountant is one of you most important team members for exactly these reasons. They know the tax laws in and out . I like how you think about it. Thanks again
@Nickster7
3 ай бұрын
Thank you Louis. As always, your videos are amazing.
@louisreynhardt
3 ай бұрын
Thanks for your possitve feedback. Appreciate the support 🙏🏻
@Moletji
2 ай бұрын
There's also a big tax deduction called sec 13sex that applies for newly built properties. You'd have to own atleast 5 properties. Ir allows for a 0.05% yearly deduction on the cost of building the property. In the case of purchase they would have to be at least 5 properties as well. You'd then proceed to multiple the cost by 55% then you can ultimately deduct 0.053 on the 55% value of the cost for over 20 years.
@louisreynhardt
2 ай бұрын
Absolutely, thanks for adding value in the comments. I talk about this in my "new developments property" video. 💪🏻💪🏻
@heelayahbahtisrael8438
4 ай бұрын
SARS, ....thank you so much for this video.
@louisreynhardt
4 ай бұрын
Pleasue my friend 🙏🏻🙏🏻
@Peacenotwar1234
4 ай бұрын
Excellent, thank you!
@louisreynhardt
4 ай бұрын
Thanks for watching 🙏🏻🙏🏻
@mariogovinder1819
2 ай бұрын
Hi Louis can I use depreciation for rental properties once I have been audited by SARS? Would i be allowed to go back and do another assessment, that means going back until 2009
@louisreynhardt
Ай бұрын
Im not sure, i think the best approach would be to reach out to an accounting firm , they should be able yo give you a better answer
@sebabatsomotaung8788
4 ай бұрын
Thank you so much
@louisreynhardt
4 ай бұрын
Huge pleasure 🙏🏻
@kabeloradebe1540
4 ай бұрын
Banking charges can also be a tax deductible
@louisreynhardt
4 ай бұрын
Absolutely! Thanks for sharing that . Appreciate your input 💪🏻
@Paper.creations-gq1vr
4 ай бұрын
Can you get any of these deductions on property you buy, that you want to live in?
@louisreynhardt
4 ай бұрын
Unfortunately not. You can only benefit from the tax benefits when its a investment property. There is however s frw ways around that.
@kevinmc7993
4 ай бұрын
Amazing info
@louisreynhardt
4 ай бұрын
Thanks for watching. Its a pleasure 🙏🏻
@joanpearl7184
4 ай бұрын
A loan is not taxed, but interest is.
@louisreynhardt
4 ай бұрын
💪🏻💪🏻
@Moletji
2 ай бұрын
The interest on the loan is tax deductible based on the fact that is the loan in the production of income. A bond o. Your personal home isn't deductible but it is on rental income.
@louisreynhardt
2 ай бұрын
Absolutely, thanks for adding value in the comments 💪🏻
@willemmaritz9957
4 ай бұрын
Nou pra jy!!
@louisreynhardt
4 ай бұрын
💪🏻💪🏻💪🏻💪🏻
@andrewmatthews6669
4 ай бұрын
Hi Louis please send me the details of the person to help me with my taxes please
@louisreynhardt
4 ай бұрын
My Accountant : prosperityenterprises.co.za/seminars/?gad_source=1&gclid=Cj0KCQjwsaqzBhDdARIsAK2gqnfnZvwtPsY7VBBSpdpAP9D3WZZxyExfpdv_VSvHZV-bcq8pthkjoBwaAk7-EALw_wcB Heres a link to their website
@joanpearl7184
4 ай бұрын
Never knew levies were tax deductible as an individual
@MrPopsicle786
4 ай бұрын
Only on investment properties, not on primary residences.
@joanpearl7184
4 ай бұрын
@@MrPopsicle786 AHH that definitely does make sense, like it makes sense when in a Pty ltd, that it's taken as an expense, but after trying the whole property in a complex run, and realising you just don't make money off then never tried to go back to three or research levies.
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