Tax-free investing
Although you don’t get a tax deduction for money you invest in a tax-free investment (also known as a tax-free savings account), you can still enjoy tax-free growth. And you won’t pay any tax on the proceeds when you decide to take money out of the investment.
You can invest up to R36 000 every tax year (R3 000 per month) in a tax-free investment, limited to R500 000 over your lifetime. Government may adjust these limits from time to time.
Benefits of investing money for retirement
- Invest from as little as R500 per month, limited to R36 000 every tax year.
- Only certain investment solutions are available for a tax-free investment. Your financial adviser will help you choose the most suitable investment solutions.
- You have full access to your money at any time, but the benefit becomes more meaningful the longer you stay invested.