What is a Tax Free Savings account?
Tax-Free Savings Accounts are savings products on which no income tax, capital gains tax or dividend withholdings tax will be charged.Read more
Investors are allowed to invest R30 000 per year into a Tax-Free Savings Accounts (TSA) subject to a maximum lifetime limit of R500 000. Sars will charge a 40% tax on contributions above these thresholds - so please don’t add more than the maximum of R30 000 per year. If you withdraw money from the TSA, you will lose the value of that withdrawal from your lifetime limit; that means you should only use the TSA for long-term investments i.e. 20 years and longer. You are not forced to keep your money in a TSA and you can withdraw at any time with no penalties or tax.
See our Other Services page for more information on how to invest in a Tax Free Savings account with us.
The past year was a roller-coastal ride for global markets. The start of the year was dominated by resurgent fears of a recession in the US, with inevitable international repercussions. This triggered a dramatic plunge in sentiment worldwide, manifesting itself in tumbling equity prices. The MSCI World index crashed by almost 12% in the first six … Continued
The fiscal restraint imposed on the world as a result of the global financial crisis has markedly curbed excessive budget deficits. Since the depths of the recession in 2010, the OECD countries have cut their overall deficits from 8.0% to 3.2% in 2015. [CHART 1] Nevertheless, as deficits have still been incurred (albeit at much lower … Continued
Global equities have been on a roller coaster ride in 2016 – down 12%, then up 16% and likely to end the half year largely unchanged. [CHART 1] This heightened volatility will probably become one of the many ‘new normals’ in the post global recession environment. We are, almost certainly, entering a secular period of lower … Continued
Investors had to work their way through a tumultuous first quarter as widespread forecasts of an imminent global recession gathered momentum – despite no meaningful evidence that the slower world growth was anything more than a temporary slowdown. The impact on equities was severe with several of the major markets declining sharply. [CHART 1] Forced … Continued