Sep 2, 2026 · 27 min · 11 segments
Are you accidentally setting yourself up for a massive 20% to 25% tax hit on your estate? In this episode of Solving the Riddle, host Andrew Whitewood and Alec Riddle are joined once again by tax…
yeah and um if we move on so we're going to touch on the provisional tax for the last minute dot commas
But I would.
Yeah.
So get your information together.
And we see this so often is that we start asking clients for their information in July, but then they start sending the information by the 25th of August.
And it puts a lot of pressure.
Like if you it doesn't give us enough time to really.
look into your things and go okay well if this is what you're earning what can we change for you like can we move a few things around because there's not time to do that so prepare for the next one in advance because February has more like an implication to it if you under declare the February calculation then you get an underestimation penalty
And I think feeling back into our previous episode that we did a couple of months ago is that you need to understand the whole auto assessment.
Are you a provisional, non-provisional taxpayer, the windows, and partner with someone that can actually give you proper tax advice.
For example, Mariska, like you said, how can you structure things? I think that's the key focus today, Alec and Mariska, is yes, we're touching on lastminute.com, the provisional tax window, but the key thing is we're going to go into some more intricate, complicated tax matters.
It's not going to be applicable to everyone out there, should I say, not every man on the street, but the key thing is that we are going to be speaking about, for example, structuring, Section 10C, Section 7C, etc., I think the last thing, yeah.
No, I was just going to say before that, and maybe you were going that way, is one of the things we touched on in just our previous episode when it was closing of tax season or opening of tax season, we touched on freelance income.
And there was one thing that you wanted to mention with regards to the people who are earning money.
Yes.
So a lot of freelancers or commission earners, they earn all this income and then they get a big shock when it comes to provisional tax or just final tax that they have to pay this amount of tax.
And I just want to give people a little bit of insight on how do you prepare for that.
So if you are a freelance incomer, sole proprietor, Then you get that full amount in your pocket.
It's not like when you earn a salary, the tax is already deducted and SARS has got their money and you can spend what you get in your bank.
You get the full amount in your bank now.
And what a lot of people do is they spend that money and then they get to tax season and they're like, I don't have this money to pay SARS.
So I would definitely suggest to open a separate savings bank account, not the one that you spend every day on because you're going to spend that money.
yeah and um if we move on so we're going to touch on the provisional tax for the last minute dot commas
But I would.
Yeah.
So get your information together.
And we see this so often is that we start asking clients for their information in July, but then they start sending the information by the 25th of August.
And it puts a lot of pressure.
Like if you it doesn't give us enough time to really.
look into your things and go okay well if this is what you're earning what can we change for you like can we move a few things around because there's not time to do that so prepare for the next one in advance because February has more like an implication to it if you under declare the February calculation then you get an underestimation penalty
And I think feeling back into our previous episode that we did a couple of months ago is that you need to understand the whole auto assessment.
Are you a provisional, non-provisional taxpayer, the windows, and partner with someone that can actually give you proper tax advice.
For example, Mariska, like you said, how can you structure things? I think that's the key focus today, Alec and Mariska, is yes, we're touching on lastminute.com, the provisional tax window, but the key thing is we're going to go into some more intricate, complicated tax matters.
It's not going to be applicable to everyone out there, should I say, not every man on the street, but the key thing is that we are going to be speaking about, for example, structuring, Section 10C, Section 7C, etc., I think the last thing, yeah.
No, I was just going to say before that, and maybe you were going that way, is one of the things we touched on in just our previous episode when it was closing of tax season or opening of tax season, we touched on freelance income.
And there was one thing that you wanted to mention with regards to the people who are earning money.
Yes.
So a lot of freelancers or commission earners, they earn all this income and then they get a big shock when it comes to provisional tax or just final tax that they have to pay this amount of tax.
And I just want to give people a little bit of insight on how do you prepare for that.
So if you are a freelance incomer, sole proprietor, Then you get that full amount in your pocket.
It's not like when you earn a salary, the tax is already deducted and SARS has got their money and you can spend what you get in your bank.
You get the full amount in your bank now.
And what a lot of people do is they spend that money and then they get to tax season and they're like, I don't have this money to pay SARS.
So I would definitely suggest to open a separate savings bank account, not the one that you spend every day on because you're going to spend that money.
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