S5 E3: Taxed And Tired

Your salary goes up, but your bank balance still feels squeezed and your payslip feels like it is mocking you. Hosts Arthi and Malika know that “taxed and tired” feeling, and this epsiode is aimed at slowing the noise down by making South African tax easier to see, name and plan for, without pretending there is a magic hack. When tax becomes visible, it becomes predictable, and predictable is something you can build around.
 
Listen in to hear the Arthi and Malika share practical habits that reduce panic at filing time.  These include:
• why a payslip can feel like a reality check even for high earners 
• how tax shows up beyond PAYE through VAT, dividends, capital gains and property 
• income tax versus wealth taxes like CGT, dividends tax, transfer duty, donations tax and estate duty 
• six common myths that create fear and bad decisions 
• tax planning as predictable structure rather than loopholes 
• retirement contributions as a straightforward lever for tax efficiency 
• medical scheme credits and why admin matters 
• donations to approved PBOs and keeping the right proof 
• side hustle income, allowances and the need for clean records 
and so much more!!

🎬Ready for next steps? Listen closely for the simple weekly checklist to build a tax folder and track income streams.

🎧 The Swan Effect Podcast is proudly sponsored by Old Mutual Wealth, supporting conversations that help us build financial clarity, confidence, and long-term well-being.

If this episode resonated with you, please subscribe, share it with someone who might need it, and leave us a review. We’d love to hear your reflections — your messages and comments help shape the conversations we have next.

Thanks for listening!

— Arthi & Malika

Transcript

Arthi Rabikrisson: 00:00
Your legacy isn't just about numbers. It's about the confidence that comes with knowing your wealth is expertly managed. At Old Mutual Wealth, we offer solutions that go beyond investment management. We're your trusted partner in achieving financial success. Together with your financial planner, we uncover what matters most to you. Crafting a personalized plan tailored to your unique goals. Backed by a team dedicated to your wealth journey, we provide innovative strategies, in-depth research, and award-winning investment expertise. Partner with us to take your wealth further with advice-led personalized wealth management, offering clients and financial planners a full suite of industry-leading investment solutions. Visit www.olmutual.co.za/wealth to learn more. 

Arthi Rabikrisson: 00:59
Hi there, I'm Arthi Rabikrisson

Malika Petersen: 01:01
 Hello, I'm Malika Petersen. 

Arthi Rabikrisson:01:06
Welcome to 

Malika Petersen: 01:07
the Swan Effect Podcast!

Arthi Rabikrisson: 01:10
We're your go-to podcast to simplify the complexities of money management, investing, and wealth management 

Malika Petersen: 01:17
so that you can gain confidence in your relationship with money and become financially literate, independent, and free. 

Arthi Rabikrisson: 01:26
That first step towards freedom is knowledge. And you can start regaining that right now by listening to this upcoming episode. 

Arthi Rabikrisson: 01:41
Welcome, wonderful listeners and subscribers to another episode of the Swan Effect Podcast. With this season, we are tackling the dreaded DDT, meaning debt, death, and taxes. And guess what, everyone? Today we have titled our episode as Taxed and Tired. Hi, Malika!

Malika Petersen: 02:04
Hi, Arthi. Honestly, this episode title says a lot, right? Because I think there are so many people who are earning, working hard, moving up in their careers, which is amazing, but they still feel squeezed and eina, to be honest. And for those of our listeners who are not from South Africa, it's basically a slang word, which means you're tired and you've just about had enough, right?

Arthi Rabikrisson: 02:31
Absolutely. Indeed, Malika. And you know, listeners, we thought this is an interesting topic to bring in now because, well, actually, April is such an interesting month in South Africa. We obviously have Easter, which is celebrated across so many cultures in different ways, also across the globe, too. And it is naturally a time for reflection, renewal, and thinking about what we're going to carry forward. And then, of course, in South Africa specifically, we also mark Freedom Day, which basically asks a much bigger question of us about what freedom really means to us.

Malika Petersen: 03:07
Yeah, and I think today we specifically want to bring that into money, right? Because there is nothing freeing about earning well and then still feeling confused, reactive, or just trapped by tax.

Arthi Rabikrisson: 03:22
So this episode is really about reclaiming some of that freedom through understanding. Because for so many people, tax feels like something that just happens. It just happens to you. It's a deduction, it's a pivotal mystery. It might even be a painful surprise. And it can be an absolute season of panic as well, right? And especially, you know, we've come through what would have been the 2025-2026 tax season for February. Plus, we also have upcoming tax deadlines as well. It might have been already an anxiety riddle kind of few months for you in the start of the year.

Malika Petersen: 03:58
Well, I think today we're slowing it down for everybody, right? We're talking about taxing in Kane language, which is not just the PAYE and your salary, but the broader system, right? The myths that keep people stuck. And the legal and practical ways that you can make it work better for you.

Arthi Rabikrisson: 04:16
Absolutely. And on that note, Malika, I think we just also want to advise the listeners that remember, our episodes and this episode in particular, it's for education and empowerment. We are not giving personal tax advice in any way. Remember, rules change, your specific situation is what counts. So please always speak to somebody who is familiar and aware, like a registered tax practitioner or even a qualified accountant who can deal with your case specifically.

Malika Petersen: 04:46
Absolutely. Okay, so I see. Let's start with the emotional truth here, right? Why do people who earn more still sometimes feel like they have less?

Arthi Rabikrisson: 04:57
Simply put, Malika, because the pay slip just humbles you. I mean, I remember getting my first proper salary way back when now and thinking, oh yes, I've made it. Then, Malika, I looked at all the deductions. Jeez, and I just thought to myself, okay, so all of this money is actually just not mine.

Malika Petersen: 05:17
Yeah, the pay slip really does humble you, like every single time.

Arthi Rabikrisson: 05:22
Every time. Oh gosh, you know, and and if you're a high earner, you know, people just assume, okay, that person must be swimming in cash. But you know, you can be earning well and still feel broke because your money is sliced and diced in so many ways before it's even reaching you. And then of course, whatever is left also leaks out even further in so many other places that you may not have planned for.

Malika Petersen: 05:46
Yeah, and I think that's why today matters, because a lot of people don't actually hate tax, right? They hate the confusion that comes with tax, they hate that feeling of their money just disappearing, and they don't always fully understand why.

Arthi Rabikrisson: 06:04
Exactly. So uh today we're unpacking the slice that hurts the most, you know, and and this is like we said, the broader system around tax. So, you know, it's not just the PAYE that came off my salary part. No, no, no, it's wider. It's about how it shows up in different ways, what people get wrong, and maybe, you know, how to think about approaching it more strategically.

Malika Petersen: 06:27
Because I think let's start there, right? What you just said, Arthi, most people's relationships with tax is basically PAYE, right? Or pay as you earn, which is the full word. You see this number on your pay slip, you kind of sigh and you move on. But tax doesn't actually end with your salary or your pay slip.

Arthi Rabikrisson: 06:48
Not even close, though. Yeah, yeah.

Malika Petersen: 06:50
I mean, in real life, tax shows up when you earn salary, when you get a bonus or commission, when you run a side hustle or business, even when you earn interest or dividends.

Arthi Rabikrisson: 07:02
Oh, yeah. We could, I mean, we could continue with that when you sell an investment or a property, when you buy things, because that value-added tax is a tax too when wealth gets transferred. So, for example, through a donation or through your estate. So, you know, what people think of as tax is usually only one visible part of a much bigger picture.

Malika Petersen: 07:25
Exactly. And I mean, that's where the frustration comes in. Because if no one is ever proper or no one has ever properly explained the system to you, it can feel like your money's just disappearing in multiple directions at once.

Arthi Rabikrisson: 07:40
It's all panic stations. That's all I can say, right? And that's where the emotional part hits, okay. When your income grows, I mean, naturally your lifestyle even grows and sometimes even faster. Okay. So what that translates to is, for example, you now start buying from checkers instead of buying from ShopRite, maybe. Or you switch from a generic brand to something more brand-named in terms of your products. And then, of course, we add debt. And then on top of that, we add black tax as examples.

Malika Petersen: 08:12
Right. Then just, you know, add just supporting family in other circumstances, like emergencies or trying to invest. We can add paying school fees, saving for the future, right? And and amidst all these things, you're trying to still enjoy your life. So you're earning more, but you do not necessarily feel richer. So without a plan, tax just becomes another thing that you resent instead of something that you can anticipate.

Arthi Rabikrisson: 08:40
Ah, and that is such an important distinction, Malika. Because you know, one feels like it's punishment, but then on the other hand, it also feels like it's planning.

Malika Petersen: 08:49
And the good news is that taxes are actually far more predictable than people think. So once you understand the rules, you can start to plan around them.

Arthi Rabikrisson: 08:58
And I think that's our threat for today, actually, because I think tax starts to feel oppressive when it's invisible. So everyone, you know, once you understand it, it becomes something you can actually plan around.

Malika Petersen: 09:09
So let's make it visible and start by breaking down a phrase people throw around all the time: income tax versus wealth tax.

Arthi Rabikrisson: 09:19
So when we say income tax, we're talking about tax on money that you earn. So that's the salary, the bonus, the commission, your freelance income, consulting income. And in some cases, you know, there might be certain other forms of income too as well, right? So anything coming in.

Malika Petersen: 09:34
Yeah, and PAYE, right, which is basically the system saying we're not waiting until the end of the year, we're collecting from whatever you earn throughout the year, right? And it this is an estimate based on what your employer knows. And then obviously, when you file at the end of the year, the revenue service, the South African Revenue Service, works out what you should have paid versus what you actually paid.

Arthi Rabikrisson: 10:01
And now, okay, so let's talk about wealth tax, right? So, wealth tax is I think where people get confused, Malika. So South Africa doesn't have like one simple line on your tax return that's just called wealth tax, in the way people might imagine it. Okay. But actually, no, it's about wealth gets taxed in very different moments and in very different forms, especially in the way in which that wealth is generated, could be transferred, or even just realized as well.

Malika Petersen: 10:28
So give us examples of what these could be.

Arthi Rabikrisson: 10:31
Okay. So for example, I'm thinking of capital gains tax, right? So that is when you sell an asset at a profit. Okay. Then dividends tax on certain dividend income, you know, based on what you've invested in. Everyone, think about transfer duty as well. So when a property is changing hands in certain transactions, that is occurred as well. There's also estate duty. So just along the property lines as well, and rules and estates. When somebody passes away and you're winding up an estate, yep, all of that. Those are those little taxes that come into play.

Malika Petersen: 11:04
Yeah. And I mean, here's a few more, right? So donations tax, when wealth is transferred above certain thresholds. Also think about that, right? Which quietly affects your spending power every day. And that is such a such an important one because people often forget that even after income tax has already taken this slice, the money you spend also gets gets taxed in everyday life.

Arthi Rabikrisson: 11:28
Oh, for sure. So, I mean, everyone, instead of asking, how do I avoid tax? I think the better question is how do I plan for the taxes I know that are coming and claim what I'm actually allowed to claim?

Malika Petersen: 11:41
And that shift alone changes the entire energy.

Arthi Rabikrisson: 11:45
Doesn't it? I mean, I really think it does. Uh you know, because that that first question about avoiding tax, that comes from fear. But the second one, that's coming from responsibility. And remember, we always talk about how we can take control. And in fact, I mean, everybody, if you haven't listened to season four, where we actually talk deliberately about the wealth mindset, go back and listen. That's exactly what we're talking about. Okay. 

Arthi Rabikrisson: 12:08
All right. So, Malika, I think one of the things that, or one of the best ways in which we can actually help people understand this a bit more is actually to bust some myths. Let's lift some veils on that. All right. So I'm gonna put you on the spot.


Let's hit me with a few myths and let's see what I can do.

Malika Petersen: 12:35
Okay, all right. Let's get busting. Okay, number one. If I earn more, I will take home less.

Arthi Rabikrisson: 12:33
Okay, well, generally, everyone, that's not the case. Okay, and I think we've explained it a little bit as we were talking just now. You know, it may feel that way, okay. That if I'm earning more, I'm taking home less. I mean, certainly for all the things that we've just spoken about. But you know, 

Arthi Rabikrisson: 12:48
the South African tax system uses progressive tax brackets, which means that as you earn more, there's a higher rate that applies, but it only applies to a portion of income. So there's almost like a threshold or a boundary at which there's this baseline tax, but then over and above that, that's when you get that additional piece. So everyone, it doesn't affect your whole salary. So, yes, that extra income you're earning may attract more tax, but I mean, ultimately, it should mean earning more means you're taking home more. The real issue, everyone, is whether you've planned for that extra tax bite.

Malika Petersen: 13:26
Yeah, and I think oftentimes people haven't, right? Because of not fully understanding how it works and how to plan. I think, yeah, people need to think about it. Okay, myth number two. If SARS owes me a refund, that means that I have won.

Arthi Rabikrisson: 13:43
Okay. You know, I must admit it it can feel like a jackpot when SARS is gonna give you a refund. I mean, it's it's great. It sounds great. But actually, you know, think about it, everyone. It simply means that SARS has held onto your money during the year much more than it needed to, right? So the better question is did that actually work for your cash flow? I mean, the fact that SARS has been holding your money, or would you have rather have planned better during the year so that you're only paying what you need to pay? A refund is not always a surprise everyone. Sometimes it's just an adjustment, actually.

Malika Petersen: 14:18
Yeah. But I mean, that's a very important distinction, right? Because people celebrate the refund, but often it's really just your own money coming back to you, right? And and a little bit, a little bit later than you needed it, and also then without any interest.

Arthi Rabikrisson: 14:32
Exactly. I mean, they don't pay me interest for keeping my money. You know, and and again, depending on the situation, better planning through the year may actually have served you better in terms of that year-end surprise. Okay, Malika, let's switch places. I'm gonna put you in the hot seat now and you're gonna pass some myths, okay? Okay, okay, cool. All right, so myth number three. If I don't get an IRP five, I don't need to declare it.

Malika Petersen: 14:59
Yeah, please, everybody. This may seem like a if "I don't look, I can't see the situation", right? But that's not a hundred percent how it works. And ignorance is is far from bliss in this instance. You know, your obligation is based on the income and the rules, not whether a document has arrived or not, right? It's the same for ESKOM, by the way. We know what they do when you don't pay on time.

Arthi Rabikrisson: 15:26
Yeah, it's lights off immediately, right? And then there's all the hassle to reconnect. Exactly. Malita, I so agree with you. I mean, we can't turn the other cheek on this one, so yes, yeah.

Malika Petersen: 15:37
So everybody, you know, just remember side hustle income, rental income, foreign income, certain crypto disposals, all of that, you know, uh still needs proper treatment. No IRP five doesn't mean that you have no responsibility.

Arthi Rabikrisson: 15:52
Yeah, absolutely. Okay, here's myth number four, Malika. If I put something through my company, it is automatically tax deductible.

Malika Petersen: 16:02
Yeah. I think this one has been done for for a long time, right? But on to be honest, you know, you you we this is not a hundred percent correct as well.

Arthi Rabikrisson: 16:10
Yeah.

Malika Petersen: 16:11
Deductions need to be legitimate business-related events and they need to be properly documented, right? So my company paid for it is not magically make it a non-deductible or or make it deductible, sorry, right? In some cases, it can even create other tax issues like fringe benefit issues, for example.

Arthi Rabikrisson: 16:34
Oh, absolutely. I mean, it's just making me think of you know, suddenly putting kids' birthday party expenses and home renovation costs appearing in your books. No.

Malika Petersen: 16:45
Oh, I see. I can I can tell you some stories about what I've seen and heard. About what people just think as business these expenses.

Arthi Rabikrisson: 16:53
I believe you, Malika.

Malika Petersen: 16:54
I believe you on that one.

Arthi Rabikrisson: 16:56
All right, okay, on to myth number five. I can just ignore SARS until they contact me. You know, and even if I'm saying this, I'm chuckling. Because everyone, we know this is yeah, good old-fashioned avoidance, right?

Malika Petersen: 17:12
And it's it's the kind of avoidance that has a way of becoming expensive very quickly, or more expensive very quickly, right? So obviously the revenue service imposes penalties, interests, there's a whole lot of admin stress, there's this deadline. I mean, it's all just snowballs. And hear me when I say this, everyone. The calmest money is compliant money.

Arthi Rabikrisson: 17:33
Ooh, Malika, you have to repeat that, please.

Malika Petersen: 17:36
Yes, I do. The calmest money is compliant money, guys.

Arthi Rabikrisson: 17:41
Oh, I love that. Because so much financial stress is really just delayed admin wearing a money costume.

Malika Petersen: 17:49
Yeah, now that that that is a line right there.

Arthi Rabikrisson: 17:52
It's true, though. It's true though.

Malika Petersen: 17:55
All right, our final myth, I see myth number six. Tax planning is only for rich people.

Arthi Rabikrisson: 18:02
Hmm, okay. So here's the thing if you're earning, spending, saving, investing, supporting family, or just trying to build something, then I guess you qualify as rich. Okay. Which means, yes, pretty much everyone involved in any of these things that I've just mentioned needs to do tax planning. Remember, everyone, planning is not about being fancy, it's about knowing the rules early enough so that you can make better decisions.

Malika Petersen: 18:33
Yeah. So I think in with that, I mean, we've given the listeners some of those high-level rules at the end. I think that's great.

Arthi Rabikrisson: 18:40
Yeah.

Malika Petersen: 18:40
So let's do what we love to do, what we love to do most, which is share those tangible, practical ways of how to make better decisions by helping them answer the question, how do I become more tax efficient? Right? Or how do I get some money back from SARS?

Arthi Rabikrisson: 18:59
Okay, okay, cool. And I guess here is where we need to be clear as well, everybody. We're not talking about loopholes, we're talking about legal, practical use of the rules that already exist.

Malika Petersen: 19:10
Exactly. I mean, the honest answer is that you get money back when across the year you've paid more than you needed to, right? Or when you qualify for certain deductions or credits that reduce how much reduce how much you own.

Arthi Rabikrisson: 19:25
Mm-hmm. And you know, what I like is we're trying to give our listeners almost like a planning lens here, Malika. Okay. So everyone, think of this as what should my future self not have to scramble around for at tax filing time? Okay. So let's start with retirement contribution, right? So that would include things like retirement annuities, pension funds, provident funds. You know what I'm talking about, everyone. Okay. These are some of the most common and straightforward ways to be more tax efficient. In simple terms, certain contributions to approved retirement funds can actually reduce your taxable income. So as we were explaining earlier about our progressive tax brackets and all of that, that taxable income and the thresholds, that's what we're talking about. So when you're putting money away, it can actually reduce the tax that you owe for the year.

Malika Petersen: 20:16
Yeah, and I think this is where high earners often miss the moment, right? You get a raise, you automatically have lifestyle inflation, right? But your tax planning does not.

Arthi Rabikrisson: 20:26
Yeah, that's true. And this is where my mindset really matters. And I want to also connect this back to our episode one of the season, right, everybody. So we were talking very deliberately about that mindset shift that needs to happen. So remember everyone, a raise should not only upgrade your lifestyle, it should also upgrade your strategy. Because a lot of people earn more, but then they simply absorb that extra income into more spending, more consumption. And actually, it's more around additional pressure for you, perhaps even more expectations that are that are being laid on you. But I think one of the most mature financial moves anyone can make is to just ask themselves, you know, as my money grows, is my structure around it growing as well.

Malika Petersen: 21:09
Yeah, it's important to consider. So ask yourself, what can I buy now? I don't want you to only ask yourself that, but also ask yourself, how can I organize this income more intelligently going forward?

Arthi Rabikrisson: 21:23
I really, really like that. I mean, that's so practical. And I mean, here's a few other practical questions, listeners, that you know, you'd want to think about asking yourself. So, for example, do I already contribute to my employer? And if so, do I know how much? Okay.

Arthi Rabikrisson: 21:37
Yeah.

Arthi Rabikrisson: 21:38
If I'm thinking about adding an RA, have I checked what the allowable rules are for my situation? Okay. Third one is if I'm contributing monthly, does that stop me from panic contributing later, which we've seen people do, right? Suddenly we're needing to put push a lot of money into tax free structures, for example. Okay. And and maybe another question is. Do I actually understand the retirement products that are available to me, you know, for long-term use? And knowing that, do I also understand that these are not to be used for everyday emergencies? Have I created something separate for that type of stuff?

Malika Petersen: 22:14
Yeah, I think that long-term point that you're making, it really matters. Because people hear the word tax benefit and they sometimes forget about the access rules, right? Okay. And I think that's very important to consider when planning. Next up. Let's think about medical aid and medical expenses. A lot of people have heard the phrase medical credits without really knowing and understanding what that means.

Arthi Rabikrisson: 22:42
I mean, the big idea is that some medical scheme contributions and certainly, you know, those qualifying out-of-pocket expenses can reduce your tax bill through these credits. Okay. It's not always a deduction in the way people think, but it still can make a real difference when it's time for tax filing.

Malika Petersen: 23:01
Yeah, and this is where admin becomes your best friend, guys, right? Keep your records, keep your invoices, you know, keep proof of payments. Have a little folder in your home where you put all of those little bits and pieces of paper together. Make sure that your dependents' details are correct. And again, if you're unsure, ask for help before filing because this is one of those areas where errors can trigger delays or queries. You know, it's one of those deeply unglamorous but very adulting forms of self-care.

Arthi Rabikrisson: 23:35
Absolutely. Financial adulthood is just organized paperwork. I think so let's talk about donations. All right. So if you donate to certain approved public benefit organizations, everyone, it has to be approved. It can't be just any random donation. It would not necessarily qualify. If you do it through an approved PBO, you may be able to claim that donation, provided, uh-huh. We're saying we've said it earlier, you have the right supporting documents. And of course, making sure that the organization is registered does qualify appropriately.

Malika Petersen: 24:11
Yeah, and this is the energy that we've spoken about many times before. If your hand is open to give, it is open to receive, right? So this is that thinking in action. Be generous, right? But be organized about it, obviously.

Arthi Rabikrisson: 24:25
Exactly. Give with heart, but keep the receipt.

Malika Petersen: 24:29
Yeah, keeping the receipt is making me think of of the next ones. And and and it's where people actually miss out or get themselves in a bit of trouble, right? And I'm talking about those work-related expenses, those allowances, side hustles, etc.

Arthi Rabikrisson: 24:44
Okay, okay. So yes, if you earn money outside of your salary or if you receive certain allowances, make sure there's this a clean separation between them. Okay, guys. It's not about the vibes, it's about keeping records. Okay, can't reiterate this enough.

Malika Petersen: 24:58
Yeah, but we need to make a t-shirt with that. It's not about the vibes, keep records.

Arthi Rabikrisson: 25:03
You know, honestly, Malika, it applies to so much, to so much in life, actually. And actually, you're right. That's a great slogan for a tweet. Hmm, maybe my next side hustle is no day.

Malika Petersen: 25:14
Please don't forget to declare it, Arthi. And keep received, right? For the expenses in your business, right? Okay, let's get let's get back on track and break down, you know, what we mean about those work-related expenses.

Arthi Rabikrisson: 25:28
Okay, all right. I mean, so look, everyone, I mean, I run, I run my business, and I know I have to be strict about it because, you know, so too are these rules around it. So, for example, I have a dedicated workspace, I have to keep proof of all my relevant expenses. Now, in your business, if you have a travel allowance and obviously logbooks and keeping track of that, that's like everything. Okay. If you cannot prove business kilometers, you're just leaving yourself exposed. If you do freelance work or consulting like I do, then you need to keep track of that income, track those expenses, keep those invoices, set money aside for tax that you know is going to happen. So you're not shocked later down the line. And you know what? If you're mixing personal and business spending, to be honest, I think you're gonna be making your own life very hard at filing time.

Malika Petersen: 26:15
Yeah, and I think that's where a lot of people get caught, right? The side hustle making money, which feels exciting, but they forget about the admin. That actually makes that sustainable, that excitement sustainable.

Arthi Rabikrisson: 26:28
Exactly. And I mean, then that tax turns into a surprise bill, and then that just destroys your cash flow, actually.

Malika Petersen: 26:36
Yeah. And I think high earners uh often feel broke because they're paying for yesterday's decisions with today's salary.

Arthi Rabikrisson: 26:43
That's so exactly it. So right.

Malika Petersen: 26:46
All right, we've covered a lot in this episode. I think let's land this plane, right? We've gone through quite a few things. The big takeaway is simple. Taxes are predictable when you understand the rules. And predictable means that you can plan, and planning is your power.

Arthi Rabikrisson: 27:05
Love that. So here is your mini checklist for this week, everybody. First, pull out your last tax assessment and simply notice what income streams are listed.

Malika Petersen: 27:15
Second, list every income stream that you currently have: the salary, the side gig, the rental income, the investment income, whatever it is, and decide how you're going to track that monthly.

Arthi Rabikrisson: 27:26
Third, check whether you are contributing to a retirement fund. Or if you're thinking of changing contributions, then ask a professional what the deductible rules will mean for your case.

Malika Petersen: 27:39
Fourth, create a proper tax folder, right? Digital, physical, it doesn't matter. For your medical docs, docs, your retirement donation receipts, your invoices, your proof of payments, your travel records, anything that will keep you from scrambling later on.

Arthi Rabikrisson: 27:58
Absolutely. And I think the fifth one is if you owed tax last year, consider setting up a separate savings pocket for tax so that in the next assessment, you're not going to get ambushed.

Malika Petersen: 28:10
Yeah. And I think if this episode helped you, share it with a friend when they say, I don't understand tax, I just pay it.

Arthi Rabikrisson: 28:17
Because honestly, I mean that's a lot of people, Malika, actually.

Malika Petersen: 28:20
Yeah. And I mean, if you want us to do a future episode on something specific like filing season stress, side hustle, tax basics, how to read or interpret your pay. So please engage with us and send us those questions.

Arthi Rabikrisson: 28:33
Absolutely. And as always, it's not about perfection, it's about becoming a little bit more powerful, one decision at a time. And I think with that, Malika, we're at our parting shots. Okay.

Malika Petersen: 28:43
So already. Already.

Arthi Rabikrisson: 28:46
What's yours for today?

Malika Petersen: 28:47
Yeah, I think mine is simple. You know, create one place for your tax life to live, one folder, one spreadsheet, one kind of note on your phone. Start there. And when you start, you will stop fearing it so much, right? And that is the shift. Less drama, more awareness, more intention. What about you, Arthi? What is your parting shot?

Arthi Rabikrisson: 29:08
I think tax feels oppressive when it's invisible. But as you said, Malika, once you understand it, it becomes something that you can plan around. Because everyone, freedom with money is not only about what you earn, it's also about what you understand. So tax is not going to be going away, but confusion, panic, and all these last-minute chaos, those things can absolutely go.

Malika Petersen: 29:30
April is that month of reflection, renewal, and freedom. Maybe this is your reminder that financial freedom also starts with understanding. In small doses to begin with, right? Just enough to stop living in the panic.

Arthi Rabikrisson: 29:44
Okay, cool. So now I'm gonna go figure out how to print t-shirts, Malika, with our cool slogans on there. I mean, it's not it's it's not personal, it's business.

Malika Petersen: 29:55
Remember to keep the receipts, that's our charge, right? Until next time, everyone. Ciao. Until everyone. Ciao for now. Thanks for joining us. We hope you found these ideas and guidance useful.

Arthi Rabikrisson: 30:15
We're both seasoned in the investments industry. Malika is at the cold phase of how, where, and why people invest the way they do.

Malika Petersen: 30:24
I certainly am. And in you I see you've witnessed different types of investment behaviors around money too. And now what is the local watering coach to free us from the mindsets that stop us from becoming financially free?

Arthi Rabikrisson: 30:41
Do subscribe, share, and write a review or send us comments. We would love to hear from you. 

Malika Petersen: 30:49
Catch you on the next episode 

Arthi Rabikrisson: 30:52
of the Swan Effect Podcast. Bye for now! Ciao