There is a glut of savings schemes to help you build your wealth but the returns from these schemes are taxed. However, when you save through Mutual Funds or Voluntary Pension Schemes (VPS) with MCB Funds, you get twin benefits of earning returns on your savings and reducing your taxes. You can save up to Rs 900,000 tax annually. Yes, you read that right but we are sure that you must be wondering what to do with the money. So here are our top tips for spending the tax refund.
Vacation
Have you been delaying your dream vacation for some time? The time has finally arrived! You can get away from the daily hustle-bustle and travel to the place you always wanted to. Using your tax savings to invest in yourself sounds totally worth it.
Renovate Your House
Do you need a new roof? Is your kitchen outdated? Do you need new furniture? It is time to cross off your to-do-list and get started with the home improvement project for your house.
Pay off Debts
One always looks for opportunities to get out of debt faster. Knocking it down is one of the perfect financial moves you can make. Time to say hello to stress-free life!
Reinvest in Savings
Instead of going on a spending splurge, you can work on securing your financial freedom. Saving the additional tax refund on iSave can generate extra cash, which can be used in the future. Savings leading to more savings? What better way to manage your money!
Give It Away
The most rewarding way to spend your money is to donate it to a cause you care about. After all, we all want to play our part in creating an impact on other people’s lives and help the ones in need.
What are you waiting for? Save your hard earned money from taxes and start investing with iSave TODAY!
Find Out How:
1. Call us at “0800-62224” or SMS “TAX” to 8622 to speak to one of our tax advisors
OR
You can also log in to isave.mcbah.com and create an account on iSave in a few minutes.
2. Submit your account statement before 30th June 2019 and inform your Human Resource Department (HR) to make tax adjustments accordingly.
