We're in the business of saving you money, which is why we want to bring to your attention the implications of over-contributing towards your Tax-Free Savings Account. You're allowed to invest R33 000 per tax year and R500 000 per lifetime, so any contribution made over and above the R33 000 will attract a 40% penalty payable to SARS.
Tax Free ETF Savings Account
- Reduced brokerage of 0,2% with no minimum and no monthly fee
- No securities transfer tax on purchases
- No capital gains tax when you sell these products
- No dividend withholding tax on dividends earned
- No tax on interest earned
- All approved ETFs offer you exposure both locally and offshore