Tax Season Guide: Auto-Assessments, Content Creators, Crypto & Home office Deductions 📊

Tax season is here! In this episode of Solving the Riddle, hosts Andrew Whitewood and Alec Riddle sit down with tax specialist Marisca from Tax Matters with Marisca to unpack the upcoming SARS tax season. 

With over 6 million South Africans receiving auto-assessments, simply clicking "accept" could mean leaving thousands of Rands on the table. We break down the deadlines, hidden deductions, and new rules catching out content creators, crypto traders, and remote workers. 

Top three Takeaways:

• Check before you accept: Only 0.5% of auto-assessed taxpayers edit their returns. You could be missing out on a larger refund by ignoring valid medical expenses or rental losses. 

• Crypto visibility: SA exchanges now report your trading data directly to SARS. 

• The Home Office Trap: Claiming a WFH space now can drastically shrink your R3 million primary residence capital gains exclusion when you sell your home. 

🔗 Connect With Us:

• Instagram: @TaxMattersWithMarisca

• Subscribe for Part 2 dropping this September!

Follow our personal accounts:@alecriddle @andrewwhitewood 
THE INFORMATION SHARED IN THIS PODCAST IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE FINANCIAL ADVICE IN ANY WAY OR FORM. IT IS IMPORTANT TO CONSULT A FINANCIAL PLANNER TO RECEIVE FINANCIAL ADVICE BEFORE ACTING ON ANY INFORMATION SHARED.

Transcript

Intro

SPEAKER_02 0:00

Hey everyone, welcome to Solving the Riddle, the podcast that impacts the financial puzzles shaping your future. I'm Andrew Whitewood, and together with Alec Riddle, we explore the ideas, behaviors, and strategies that help people make smarter financial decisions and build lacking wealth.

SPEAKER_01 0:24

Well, folks, our last episode was investment lessons from the Comrades Marathon, and it was an absolutely fantastic episode. We had a fantastic Comrades Marathon, two new records, both by South Africans, Gerastain, George Kriska. Well done to them, and all of those people who finished the Comrades Marathon. It's a magnificent achievement. And of course, Comrades Marathon is very much like financial planning. You need to plan, you need to surround yourselves with professionals. And that's what we've done today. We brought in Mariska, who's a tax advisor, tax matters of Mariska on Instagram. You probably know of her. She is really a leading light in her field. And we'll be covering things like you know, people are going to get five million, six million people are going to get an auto assessment dropped into the inbox within the next week or two. And many with surprises, many not knowing what to do. Hopefully, we'll be able to unpack some of that. We'll be talking about the yachtis, the content creators, the home office. So many things to unpack here. And um, Andrew, you want to you want to come in here? You know Mariska very well.

SPEAKER_02 1:27

Yeah. So Mariska, first and foremost, welcome to the show. Um, Alex giving you an amazing welcoming. Um, I've known Mariska for the best part about seven, eight years when I lived in Cape Town. And I'll be honest, I just stumbled across uh Mariska's presence on Instagram. Uh, we were unpacking her journey um to date on Instagram and on social platforms in general. So, yeah, Mariska, just a big welcome to Port Elizabeth.

Meet Marisca & the truth about SARS Auto-Assessments

SPEAKER_02 1:51

It's the first time you've flown to Port Elizabeth. I don't know if that's a good thing or a bad thing. Um, but yeah, once again, just a big thank you. And just Alec, opening up on the auto assessment, tax season is pretty much on our doorstep, one July. Um, just from our auto assessment point of view, Mariska, we had a look at some stats Alec mentioned about six million people on one July are going to receive that email, that message, etc. But only about half a percent of those six million people actually make a change and edit. So maybe just to throw the first ball into your court, let's just have a look at what are the important dates. What does an auto assessment actually mean to our listeners and viewers?

SPEAKER_00 2:30

Yeah, well, thank you uh for that intro. Um okay, so auto assessments really means that SARS has all your information, so or what they think they have all your information. So tax season starts 1st of July and auto assessments runs until the 12th of July. So what happens during this period is SARS has uh third-party information from you, and that is from your employer. So if you had a salary or maybe like a commission income or whatever income they have from you, and interest income from the banks, or your retirement annuity deductions, like all of that information that they already have for you, they are putting this on your tax return. So what happens on this is they believe that this is all the information they have for you, and you then have the have the option to either accept it or you can edit it.

SPEAKER_01 3:24

So if I can just come in there, what I've found with a couple of our clients who've been auto-assist in the past, they get quite excited when they do a refund. And people like to press the button because oh I'm gonna get some money, but they don't really look through it to see if maybe I should be getting a little bit more of a refund. Is that possible?

SPEAKER_00 3:44

Yes, that's possible. So it's possible that SARS isn't aware of all the deductions that you could have, or maybe they weren't they're not aware of your rental income, which could very much be a rental loss, actually. So you can add your rental loss to that. You can also maybe have certain expenses that they weren't aware of, maybe medical expenses. So they get your medical aid deduction or contributions, and then the medical expenses that they paid on your behalf, but maybe you paid more of that.

SPEAKER_02 4:14

So just from an auto assessment point of view, so one step backwards. So now I get that email, we're just gonna see it and I like actually just don't do anything or do something. So let's just say I click edit. How long, what are the T's and C's? What are those terms? Like I've heard like 60 working days, 40 working days. How does that process actually happen? So we've already identified that probably a lot more people should be clicking the edit button, right? Rather than just auto-accepting, and like we spoke to Jeremy earlier, he gets his 2000 Rand back and he's over the moon. But the thing is he could potentially get four, five, or six grand back. But I think what I want to get to maybe a little bit more practical side of things, nuts and bolts, how does that actually work for the listeners and viewers out there? Because I think I want to encourage more people to click that edit than just auto-accept, for example.

Crucial deadlines for Provisional vs. Non-Provisional taxpayers

SPEAKER_00 5:02

Yes, okay. So from the date of issue that SARS issues your assessment, you have 40 working days to review it and see if you want to edit or accept it. Then in that 40 days, obviously you can edit it. And if you want, if you don't do it in the 40 days, you have another 21 working days to request an extension. So yeah, you have that's basically 61 working days that you have to do that.

SPEAKER_02 5:31

18 months. Yeah, I think we also, from a business point of view, we deal with a lot of business owners, etc. Um, I don't know your view, Mariska, with regards to provisional taxpayers. Maybe also the starting point is what is actually a provisional taxpayer? And I think you've got some examples with from a uh a financial planning point of view and dealing with clients, like they think all of a sudden they were working, now they retire, they must become a provisional taxpayer.

SPEAKER_01 5:54

So maybe or they're surprised they have to become a provisional taxpayer because now they've got income from more than one source, it's not just your employer. So you've got a living annuity income, you might have a life annuity income, you might have interest income from the bank, all of those type of things which put you in the provisional tax bracket. Uh or sphere. Perhaps you can touch on uh provisional tax, um, expand upon it a little bit and also the dates.

SPEAKER_00 6:20

Okay, so if you're a non-provisional taxpayer, then you can submit your tax returns from the 13th of July after auto assessment has now closed their doors. So 13th of July until 23rd of October. So that's for non-provisional taxpayers. Provisional taxpayers have a longer period until the 22nd of January 2027.

SPEAKER_01 6:41

But also starting 13th of July.

SPEAKER_00 6:42

Also starting 13th July. So you can get it in, you don't have to wait until then, but you do have a longer period. And generally they take their longer period because maybe they have a top-up payment to do and they want to wait that that longer period. Um,

Who counts as a Provisional Taxpayer?

SPEAKER_00 6:54

but let's go with why you would need to register as a provisional taxpayer. So if you have income other than a salary and um your general things at SARS now has it, your auto assessment, and maybe you don't you're not a provisional taxpayer. So income other than a salary, like maybe rental income, or your side hustle, or your crypto income, your trading income, like you make maybe investment income, you sell capital assets, then you have to be a provisional taxpayer.

SPEAKER_01 7:22

Can I just come in there before you uh carry on? I think it's also important if we're being auto-assessed, not to look at that and say, oh, they don't know about my rental income.

SPEAKER_00 7:32

Yes.

SPEAKER_01 7:33

Um that they get excited about that, whereas they should be disclosing it. That's where Andrew's edit button needs to come in. You have to be honest and up front, otherwise you are likely to get penalties. It's not SARS's fault they don't know. Yeah, so it's it's your fault. You didn't inform it.

SPEAKER_00 7:50

Absolutely, absolutely. So people can think bonus, SARS didn't pick up on that, but SARS isn't going to know about that. But the burden is on you to declare that to SARS, and it can come out at any time later. And then if you did not tell SARS, they give you underestimation penalties and interest for all of that.

SPEAKER_02 8:06

And just speaking to that point, so it's obviously more the sphere of financial planning, but Morisco, Alec, and I once or twice have come across as states where obviously the individual that has now passed away has not been 110% open with SARS, and that creates massive uh complications for winding up the estate, delays, and the negative impact on beneficiaries and heirs can be massive. So I think from a practical point of view, to everyone out there listening, is you're gonna save yourself a buck or two now, potentially, or a rand or two now, but the something happens to you and SARS start digging, as you know, Mariska, I think the one authority that's pretty well run and is getting better run in this country is SARS.

SPEAKER_00 8:45

Yeah.

SPEAKER_02 8:45

And they pretty much can do anything they want to do with regards to your affairs. Am I correct?

SPEAKER_00 8:51

Yes, that is correct. And an actually personal story is that um my gran went through that where she wasn't, she didn't tell SARS about everything. And then when it came up about like winding up her estate, they took a lot of money from her. And and I think a lot of people don't they're not aware that that is going to happen. And another case where that happens is if you never told SARS about your rental income and your property gets sold, that goes through the transfer duty process. So SARS is aware of the fact that you owned a property and then they see you never declared that income, rental income. So what did you do with that property? So there's ways that SARS can become aware of income that you didn't declare to them before.

SPEAKER_02 9:28

They're just spreading their net, right?

SPEAKER_00 9:30

Yeah.

SPEAKER_02 9:30

So you mentioned something about a top-up payment. Sorry, I just take Mariska back with regards to provisional taxpayers. I don't think everyone's aware how the provisional tax regime works with regards to like those two interim payments in verte-commerce and then the final top-up. So maybe if you could just uh unpack those technicalities for listeners.

SPEAKER_00 9:48

Okay. So provisional tax, we we're talking about individuals now. You have a 12-month period starting the first of March until Feb. That's the tax year. So first provisional tax period gets submitted in August, and that's uh where you say my income from March until August was X. And I predict for the full 12-month period, it's going to be this amount. And then what is the tax payable on that divided by two, and then you pay that amount in August. So that's first provisional tax payment. Then in Feb, your next one is due, and you have like your your like you submitted in Feb. So you have your actual income and expenses for 11 months now from March until January, and you say, okay, for Feb, I predict it's going to be this, so let's add that, and this is the amount of tax payable, minus what I paid in August, and then you have an amount payable now in Feb. So it could then happen that maybe in that FEB period, you maybe like um, okay, so like let me take a step back. What you can do is that you can you have to be within 80 or 90 percent um of the actual income. So maybe you said in Feb, okay, I don't have all the money now to pay my provisional tax, I'm going to estimate 90%. So that top-up payment, or maybe there was an extra income that came in in Feb after you submitted your provisional tax, then you have until the 30th of September to do that top-up third payment to they reduce your interest on that third top-up payment.

unknown 11:17

Okay.

SPEAKER_02 11:18

Yeah, it's quite complicated and technical, Alec, at the end of the day. And I think the key thing from our side is once again the tax window season is upon us. Um, and you've got to play open cards with SARS and actually know what you're doing, right? So I think that's a key reason why we got you on the show, Mariska, is this is not our area of expertise. But Alec, like we always position and position with our listeners and viewers, is we're a part of an ecosystem, Mariska, and we unpacked this in a little bit of detail before hopping on the show today, is that you also specialize in a specific call it line or sphere of tax, right? And tax is very diverse, um, just like financial planning. Um, but the key thing, Alec, and I I'm on a bit of a roll here is that you mention your your rental properties, hiding away, rental income, et cetera, capital transactions. But I think something that is very, very topical at the moment, specifically in South Africa and the world, is

SARS Crypto Crackdown: New IT3c certificates from Luno & VALR

SPEAKER_02 12:08

cryptocurrencies, Mariska. And I think the key thing, maybe if you can just delve into that and what are SARS doing? Is it falling under the SARS microscope? What are the regulated platforms like Luno, et cetera, needing to do? Are they going to have to do it in this tax year, future tax years?

SPEAKER_00 12:22

Yes, that's a very interesting topic because I think all of these years everyone was like, what's gonna happen? Does SARS know of it? Regulation, regulation, and that has actually now happened. So um from the 1st of March this year, they they have um kind of like told, okay, wait, so they have told Luno, Valor, all the South African exchanges now have to report to SARS the same way that your bank does. So when you earn interest, your money's in the bank, you earn interest, they report that to SARS, you get your IT3B certificate.

SPEAKER_02 12:54

Actually, it'll be physical tax certificates. Yes, exactly.

SPEAKER_00 12:57

You get your IT 3C certificate. So the South African crypto exchanges now need to report that in a certificate to SARS, and it's going to be on your tax return when you open it already. And what's going to be included on it is all the trading that you did throughout this entire year. So all the buying, all the selling that's going to be on your crypto certificate in 2027 tax year when you open that return.

SPEAKER_02 13:21

And so okay, now we're gonna get a little bit technical, but you just mentioned trading. So is that gonna be capital in nature or income in nature?

SPEAKER_00 13:28

That's a very interesting question, and um, I think it's a little bit more of a gray area, is that for anything to be capital in nature, you need to prove that you held this for a reason other than profit making, right? And for crypto, it's very difficult for us to prove that. Everyone who bought their crypto was like, it's gonna go to the moon, I'm gonna make all of this money with that. So, where if you invest your money, let's say on the general stock exchange, you're gonna get dividends on that and you're gonna get a capital growth, but you don't get that on crypto. So, how are you going to prove that you held it for a reason other than profit making? And then it doesn't fall into that same category of if you hold a capital asset for longer than three years, it's automatically a capital asset. So, generally, most of the time, it's going to be trade income.

SPEAKER_01 14:16

Interesting.

Tax rules for Yachties & the R1.25 million expat threshold

SPEAKER_01 14:18

Then another interesting one a lot of young South Africans have uh headed overseas and are having a good life on the yachts or working really hard on the yachts. So let's talk about the income that they earn, the tips that they earn, and so forth, because I think there's a bit of confusion there.

SPEAKER_00 14:36

Yes, okay. So the income that the we call them the yachtis earn is generally completely exempt from tax. So they have an exemption that if they spend 183 days outside of South Africa, they have their full remuneration exempt that they make on the yachts. But the tips that they make isn't included in that. So, and a lot of the time they don't even include that in their tax returns. So that definitely needs to be included in your tax return, and that is going to be taxable. And I think another mistake that yachtis make is just going, okay, well, I have this exemption, I'm not even going to declare that to SARS. And that is, I think the majority of yachtis actually they don't submit their tax returns to SARS. I meet so many of them that actually then tell me, Oh, I have I have rental properties in South Africa, I earn rental income. And then they've never declared that to SARS. So it's very important for them to know that even if you do have the exemption, your income is still taxable, and then you need to prove to SARS why it is exempt by the fact that you did spend that 183 days outside of South Africa.

SPEAKER_02 15:38

So the example you literally just gave, I met with a client a couple of weeks ago, she's a yachty, but same thing, she's got a rental property locally, etc. And I just said I referred her obviously to the company we deal with locally in P, and I just said you've just got to get this sorted, you've got to disclose everything like you rightly said, Mariska, the exemptions apply, but you still need to disclose this information. And I know in in prep and conversation before today, we also chatted about people, a lot of people working in China, working in Vietnam, um, and the way SARS potentially, maybe Mariska, if you can come in again, how SARS are going to start changing their view and treatment um with regards to people living overseas, not ceasing to be a tax resident, um, not disclosing income, etc. How are SARS potentially going to change the view?

SPEAKER_00 16:24

Yeah, so SARS has indicated that they are aware that there's people who have immigrated or left South Africa, like maybe it's temporary, they're going to go for five years work abroad. So they think I'm coming back to South Africa, so I'm not going to say anything about it or do anything about it. And then they also think that because I earn under the 1.25 million Rand, my income is exempt from tax. So SARS have picked up on people leaving, and then they they tied up the numbers and saw, okay, everyone who has left and everyone who has submitted their tax returns not declaring their foreign income in there, the numbers don't match. So SARS have indicated that they are going to make it more difficult for those people to come back to South Africa. So if you come back to South Africa, let's say five years later, then it's not going to be just as easy as okay, I'm back, I'm now declaring my income. SARS wants to know where were you for that five years and what income did you earn for that five years? And then either they're going to include all of that income in your tax returns, or maybe even the capital gains tax that you were supposed to pay when you did seize tax residency or when you were deemed to seize tax residency, that might become taxable. So it's important not to leave it because you think I'm coming back or I earn under 1.25 million Rand. Uh and I think we can go into this topic, but uh to you can you can be deemed to be a non-resident of South Africa without it um without it being your intention.

Content Creators & Influencers: Are free brand gifts taxable?

SPEAKER_01 17:48

Yeah, another perhaps a little bit of a gray area is the content creators, the YouTubers. Um people are making a lot of money online now, so they they're making this money. Um sometimes you you know YouTube is perceived by some people to be foreign income, but it's coming into South Africa into bank accounts here. Um, how are the content creators treated?

SPEAKER_00 18:12

So if you're a South African tax resident and you earn YouTube income, like even Instagram, you're an influencer and you get all of these brand deals or sponsors, like you maybe get invited to an amazing hotel and you don't pay for that hotel, but you stay there and you now sponsor that on your page. SAR sees that as income, and income is anything that you receive that you did not pay for. So if you received a lovely weekend at a hotel but you didn't pay for that, and you are using that um to uh sponsor that to your page or show it on your page, then it's income, and you have to include that in your taxable income.

SPEAKER_01 18:52

And that includes almost like a fringe benefit.

SPEAKER_00 18:55

Yes, so it's it's that, it's anything. Did you get free shoes? Did you get um the handbag, all of the things that you got for free? And it's even something as promoting a restaurant, a meal at a restaurant, and you got that for free. If this is your you know what you do for for work, then that needs to be included in your taxable income.

SPEAKER_02 19:12

But how are SARS going to find out in asking?

SPEAKER_00 19:15

So SARS is lurking on your SARS is lurking on your social media. They are definitely sitting there seeing what's going on, and they they're very intelligent and they are I mean they're more intelligent than they ever were before, and they're spending a lot of money on figuring out where things aren't, you know, going right, and they actually have people looking at your and I suppose they could also contract AI to do that for them. Yeah.

SPEAKER_01 19:40

So, you know, look through all the Instagram pages, you know, tell us who've got the biggest subscribers, who's been the most interaction. I suppose they get information from that as well. That's uh yeah, quite interesting. Talking about uh the content

The Home Office Trap: How deductions impact your primary residence exclusion

SPEAKER_01 19:54

creators and so forth, what type of expenses would be deductible for them?

SPEAKER_00 19:59

Okay, so any expenses that's in the production of income, and this is in any field that you are. If you have an expense that's in the production of income, so maybe for them, they've got their cell phone, they've got their computers, they've got their, you know, all of their equipment that they use, and they have uh subscriptions and the internet, all of those expenses that could be deductible from their income.

SPEAKER_01 20:20

Okay, and what about and and let's uh go narrow from content creator to wider, the home office situation.

SPEAKER_00 20:28

Yes, okay, so the home office it's the same thing, it has to be in the production of income, and then this one is a little bit well, a lot more specific is that to claim a home office expense from your income, it has to be used exclusively for as an office. So it cannot be that table in your corner in your room, or maybe no, not at all. It has to be a room that has a door actually that can close, and the only thing that's in that room, it's your table, your chair, your laptop. It cannot be also be a storeroom, it cannot also be even as much as this. If your kid's little table is there next to it because they sit there while you work, SARS is not accepting of that because it's not used solely and exclusively for you as an office. So it's very specific that um it cannot just be that extra room or or something that's used.

SPEAKER_02 21:17

So sorry, are there implications when you sell your primary residence in the future, Mariska? So you've claimed so sorry, I I know enough to be dangerous when it comes to this. But yeah, I could throw that court uh ball back into your court. So what are the potential implications when you sell your primary residence in the future?

SPEAKER_00 21:33

Yeah, I think that's a very important topic to bring in here because not a lot of people know this. And what people do is they claim their home office expense. And to be honest, it's not a huge deduction because to be able to claim it, you take the it's a ratio that we calculate. So we look at what is the square meter of your home office compared to the square meters of your entire house that creates a ratio. So let's say, for example, it's 10%, then you can deduct 10% of your home office expenses, and that is like Like the cleaning, um, your uh electricity, everything that it takes to run it, 10% of that is not a big number. And and what you're risking here is a loss in your primary residence exclusion. So when you sell your house in the future, then obviously you get the first now increase to three million rand to primary residence exemption or exclusion. So you have to do that same apportionment when you sell it in the future. If that 10% was used for home office expense, you need to apportion your exclusion uh by 90% only. So you lose that 10%, and that amount can be much more than your small home office deduction.

SPEAKER_01 22:40

That's very interesting. That's very interesting. So, you know, you should talk about home office and it has to be used exclusively. A couple of years ago, I was asked to send pictures of my home office of the bookshelf, because I mentioned a bookshelf, of the printer, and all of those type of things. So they are monitoring this space. Let's um, you know, so much to talk, and we've got another episode which we're going to do with you for September. Um, but for tax season, let's just give our viewers and listeners an idea of who is allowed to deduct expenses and what are the expenses that they are able

Salary Earners vs. Commission Earners: What can you legally deduct?

SPEAKER_01 23:18

to deduct.

SPEAKER_00 23:19

Okay, so if you're a salary earner, you're very limited in what you can deduct. It's really your medical aid, retirement, annuity. Maybe you've had some uh donations. But if you have, let's say you're a commission earner, to be able to claim deductions as a commission earner, your commission has to be more than 50% of your total remuneration. And what's included in that is um if you have commission, maybe a small basic, you've got a travel allowance and your pension, all of that, a medical, if you get that those fringe benefits, all of that makes up your remuneration. So your commission has to be more than 50% of that. Then you are allowed to deduct expenses that's in the product uh that was incurred in the production of income. So then you can deduct expenses, and that will be things like your cell phone, your computer cost if your company obviously doesn't pay for that, if you pay for your own fuel uh entertainment because you maybe take a client out for coffee, you you meet with them, and then your home office expense. So you can deduct all of those expenses if you are a commission owner. The same thing applies to if you are a freelancer. Obviously, that you don't have to have that 50% because it's it's different than commission. But if you're a freelancer, sole proprietor, you've got a little side hustle while you actually work, all of that can have expenses deducted, and your golden rule that you're thinking of here is was this expense in the production of income? And then it can be deducted.

SPEAKER_02 24:43

So a great example is a rental property, right? So you've got to be cognizant of all those expenses incurred in the production of income, like rates, agent fees, all that good stuff. So it's the key thing, is it's not just commission earnings. It's a core principle when it comes to tax, is that that expense incurred in the production of income. But like you say, it's not applied to salary earners at the end of the day.

SPEAKER_00 25:06

No, which is sad for them.

Marisca’s #1 tip to avoid eFiling refund delays

SPEAKER_02 25:08

It is indeed.

SPEAKER_01 25:09

So, Mariska, a couple of things. First of all, to our listeners and viewers out there, if you want to stay abreast of tax matters in South Africa, go to Instagram, tax matters with Mariska. Really, we I I follow her every day. I love what she's posting, some fantastic tips. Uh, certainly uh helped upskill us. But in closing, what is the one GM or message that you could give to people ahead of this daunting tax season for people? Six million people getting an auto assessment within the next week or two.

SPEAKER_00 25:44

Yes, so my great tip for everyone is that if you're expecting your refund, you have to make sure that everything on your profile is correct because if you have outdated bank det bank details, or maybe you've got non-compliance that you're not aware of, your refund is going to take so much longer to pay out. So, my tip to you is go on your e-filing profile and go look at your compliance uh status and see if it is actually compliant, and then also to update your bank details. So, generally, SARS says it takes 24 hours to update your bank details, and you do it online, you do it on e-filing, but it in some cases they need to FICA your or verify your information, and then you need to submit supporting documents, and that can take up to 21 working days for it to be changed, so you don't want that delay really to happen on your refund. So that would be one tip, and then the other thing is I think just in general, if you not not for normal people who just earn a salary, you know, like your tax is quite basic, but if you uh earn commission income or uh maybe more more uh like your side hustle and all of those kind of income, a lot of people don't get tax advice and they get deductions wrong, they're overpaying tax, they're not aware if you know, should I even still be earning in my in my personal capacity or should I actually get a PTY? And people think tax advice is so expensive, and it is expensive, but it's an investment that you make. So you very easily go and spend that money on a night out or you know, buying nice shoes or uh going for a nice dinner. But the great investment is getting tax advice, making sure that you're optimizing your tax situation and saving on tax.

SPEAKER_02 27:26

I think the key thing from our side, Alec, is thank you very much, Mariska, for coming on the show. We're super excited to have you back on the podcast on the show in September. I think in September's show we're gonna go into a little bit more detail about more intricate matters from a tax point of view. But I think the key thing, also in closing from our side to all our listeners and viewers, this is not tax advice or financial planning advice in any form. Just a massive thank you as always, Alec, and once again to you, Mariska. Chat soon, everyone.