Use your tax-free allowance for personal wealth creation
You are allowed to invest R36 000 per tax year, tax free, in all approved ETFs to get both local and offshore exposure. Brokerage is set at 0,2% with no minimum and there is also no monthly fee on this savings account.
How to get it and what to expect
- Reduced brokerage of 0,2% with no minimum and no monthly fee
- Education and all product information for every ETF
- No securities transfer tax (STT) on purchases
- No capital gains tax (CGT) when you sell these products
- No dividend withholding tax (DWT) on dividends earned
- No tax on interest earned
- Ability to get exposure to local and offshore markets
- R36 000 annual (from 1 March 2020) contribution limit and a R500 000 lifetime contribution limit
Profits/Dividends made in the TFSA account do not contribute to your existing tax annual limits (interest and capital gains), and may be re-invested in the TFSA account without utilising the contribution limit, provided they are not withdrawn.