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 R33 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 R33 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.
A year to forget The past year has been one of the worst for global markets. The world index suffered its heaviest decline since the great recession: down over 11% (but 17% from its January high!). [CHART 1] The robust earnings growth went largely unrewarded on concerns that the longest bull run in history would … Continued
Current Environment As September marked the 10th anniversary of Lehman’s collapse, there was widespread commentary on the likely source of the next crisis. While opinions varied significantly, the consensus view was that it was impossible to predict: like the ‘sucker punch’ in boxing, it’s the one you don’t see that gets you. While recognising that … Continued
Global economy The global expansion is now entering its 10th year, one of the longest on record. And yet it appears that it still has further to go. Although the synchronised upturn among global economies appears to be losing some of its cohesion, conditions remain robust. However, business cycles across the globe are now beginning … Continued
Backdrop Despite solid economic and earnings growth globally, the past quarter has been characterised by massive volatility and weak equity markets worldwide. From the January market peak, the world market index collapsed by 9%, then rebounded by over 5%, before declining again by a further 6%. [CHART 1] While this volatility may be commonplace among … Continued