Tax Break if Married?

[Zazyx]

Hi,

Does any one know if there are any tax breaks if you are married. I know i read there are differences on capital gains or investment taxes if married but what about just straight salary income?

Thanks

 

[undesign]

Nope. No break. But your expenses increase exponentially...

 

[bex.cpt]

There used to be many MANY years ago but no more. You spend more that's it

 

[CrazYmonkeY159]

what are the benefits of getting married (from a totally financial perspective)

do you get lower insurance premiums or something?

 

[blunomore]

what are the benefits of getting married (from a totally financial perspective)

do you get lower insurance premiums or something?

Yes. I was told this by someone at Dialdirect (specifically on vehicle insurance), but when we called again to put this in effect, they had some BS excuse why it cannot be done.

 

[APoc184]

I recently updated my policy with Budget and after adding the wedding ring to All Risk Insurance, the operator asked me if I am married now because it still shows single on the policy. I said yes and we added my wife to the policy after which my monthly premium came down with a substantial amount.

 

[air]

you could at a point in time make a donation to a spouse. Worked best to make the donation to the spouse who fell into a lower tax break - not sure if this is still possible or whether SARS has clsed this avenue.

 

[noxibox]

No tax breaks, but it is cheaper to live together/be married than to be single.

There used to be many MANY years ago but no more. You spend more that's it

Many years ago the tax system worked against you if were married and both worked. It was funny that in a country run by Christian nutters they gave people a tax disincentive to get married.

 

[Nod]

You don't get any breaks once you marry.

 

[Celine]

you pay the same tax single or married. the person who said it's cheaper to live together than it is to be married is wrong. there is no longer the married person's tax. everyone is taxed the same.
the only thing here is community of property. if you are married in community of property then if you have any investments i.e. interest income then the interest is divided equally and both parties are taxed, the same with properties, if you have properties any profits will be taxed 50/50.

 

[TheGuy]

Nope. No break. But your expenses increase exponentially...

Why?

 

[HavocXphere]

Marriage is interpreted as a sign of stability. i.e. Less risk taking behavior.

you could at a point in time make a donation to a spouse. Worked best to make the donation to the spouse who fell into a lower tax break - not sure if this is still possible or whether SARS has clsed this avenue.

Its closed. s7(2) I think. Basically you can do donations, but if it results in a tax break & it looks like that was the primary motive then the original person gets taxed.