Government introduced tax free savings accounts on 1 March 2015.
All proceeds of investments through these accounts will be completely tax-free. No Capital Gains Tax, no Dividends Tax and no Income Tax from interest earned… ever!
Click on these articles to learn more:
- Savers rejoice! South Africa gets tax-free savings accounts on 1 March 2015
Which tax free savings accounts are good?
“I suggest choosing a low cost index tracker,” says Ingram. “Costs matter; there’s no use saving on tax just for fees to gobble up your returns!
“I would allocate all my money to a property index tracker. I like listed property, but before you had to pay tax on rent; now it’s tax free! I especially like the Nedgroup Property Fund.”
Ingram also recommends a pure index tracker that follows the All Share Index such as the Satrix ALSI Index Fund.
Listen to the audio for more detail on the best Tax Free Savings Accounts in South Africa.