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Tax-free savings account
What happens if I contribute more than R36,000 in a tax year?
If you contribute more than your annual allowable amount of R36,000 in a tax year the amount contributed above the annual allowance will be taxed at a rate of 40%, regardless of your personal income tax rate.
Read moreHow do I sign up for a Tax-Free Savings Account and what do I need?
You can sign up online in less than 10 minutes. Click here to access our online portal and follow the prompts.
Read moreHow much am I allowed to contribute to my TFSA?
Legislation allows you to invest up to R36,000 per year towards a TFSA, or R3,000 per month, with the maximum lifetime contribution being R500,000.
Read moreCan I open up a Tax-Free Savings Account for my child?
Yes, parents and legal guardians can set up a Tax-Free Savings Account in their child’s name.
Read moreCan I transfer my Tax-Free Saving Account from one provider to another?
Yes you can transfer your Tax-Free Savings Account from one provider to another.
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