Did You Know? 

You are allowed to invest R36 000 per tax year, up to a lifetime maximum of R500 000 in a tax-free savings account.

Like a retirement fund, you benefit from growth free of dividends tax, income tax on interest, and capital gains tax – a big win if you invest for the long term.

While the tax benefits of tax-free savings accounts are indisputable, it should be viewed as part of your overall investment portfolio to ensure that it is achieving its purpose.

Did You Know? 

Every year you can make a pre-tax contribution to your retirement funds of up to 27.5% of the higher of your taxable income or remuneration, capped at R350 000 per tax year. If you have not maximised this benefit, you can make an additional contribution to your retirement annuity (RA) in the form of a lump sum

Anyone can invest in a retirement annuity in their personal capacity. It is a good option to consider if you are self-employed or if you can contribute to an RA in addition to other retirement savings you may have.

If you are already a retirement annuity fund member, you can increase your monthly contribution to enjoy the maximum tax benefit. You could also do a once-off additional contribution. Doing this will mean that when you are assessed for the tax year you can claim the tax deduction – your savings get a boost, and you get money back from SARS.

Sharenet Group of Companies are authorised financial services providers.
Sharenet Securities FSP#: 28430 | Sharenet Wealth FSP#: 41688

Although reasonable care is taken to ensure reliability and accuracy, we cannot be held liable for any consequences resulting from the use of this service or the information provided
Terms and Conditions apply

If you no longer wish to receive these emails you may unsubscribe at any time