A new way to save with tax-free investments
To cultivate a culture of personal saving, the South African Government recently introduced tax-free savings accounts. These are savings products on which no income tax, capital gains tax or dividend withholding tax will be charged.
Contributions made to tax-free savings accounts are limited to:
- R 30 000 per year, and
- R 500 000 during your lifetime.
KEY FEATURES OF A TAX-FREE PLAN
- All growth on your plan is tax-free.
- Transparent fees and charges.
- You choose how you want to invest: lump sums (R5000 – R30 000 p.a.), regular investments (R350 – R2500 p.m.) or both.
- You have full access to your investment from day one, with no penalties.
- You can increase, decrease or stop your regular investments at any time.
- Choose from a range of selected underlying funds to meet your unique investment needs.
- The option to switch your underlying investment funds as many times as you like, at no cost.
- There is no term attached to your plan, so you can choose how long and how often you want to invest.
For more information, contact our CFP® firstname.lastname@example.org to compare products for the most suitable option, or call him on 021 914 7480 for an appointment.