Seasons are changing and at long last government introduced tax-free investments accounts that offer you the opportunity to invest in a savings option that not only gives you the benefit of tax-free savings growth but contribution flexibility and access to your capital at any time through any of our product providers which include Stanlib, Old Mutual, Momentum, Sanlam/Glacier, Investec (May) and Liberty.
What are tax-free investments?
A tax-free investment is a special account opened for long-term saving, designed to entitle you to receive the interest, dividends, or capital gains from this investment entirely without tax.
These investments harness the full potential of long-term capital gains. The longer the period of your investment, the higher the growth of capital gains. You are however able to access your money at any time.
There are, however, a few limitations on tax-free investment accounts:
- Investors may not contribute more than R30 000 per annum.
- Capital contributors are limited to R500 000 over the lifetime of the investor.
- Unnecessary withdrawals will be discouraged by taxing replacements of withdrawn amounts in excess of the annual threshold.
- Contribution over the prescribed limits will be taxed at 40%.
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How much should I invest?
The minimum investment is R350 per month and the maximum monthly instalment is R2 500 with an annual lump-sum limit of R30 000 and a product lifetime limit of R500 000.
Contact a Financial Advisor
Our financial advisors are able to assist you in accessing this product through Stanlib, Old Mutual, Momentum, Sanlam/Glacier, Investec (May) and Liberty.
