Take charge of your wealth and savings with the 10X Tax-free Savings Account

30 March 2022

The best things in life are tax-free!

A tax-free savings account (TFSA) is a great way to save for long-term goals without paying tax on the interest you earn, or the dividends you receive. You will also have easy access to your funds and won't pay tax when you make any withdrawals. Your savings also increase over time as you earn compound interest. It's the ideal way to save - tax-free and with guaranteed growth.

You are allowed to save up to R36,000 per year in a TFSA, or R3,000 per month. 10X allows for a lump-sum contribution of R1,000 minimum or a monthly contribution of R500. You also have the option to make monthly or annual contributions as and when you please.

What happens if you want to contribute more than R36,000 per 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.

Why TFSAs are a good idea

  • You don't pay tax on any interest or capital gains
  • You can access your cash any time you need it
  • Reach your goals, and make new ones
  • Invest up to R36,000 per tax year
  • Lifetime contribution limit of R500,000

10X TFSAs are better because we offer

  • Competitive, long-term results
  • Low fees (which means you get more money)
  • No platform fees or advisor fees
  • It's simple and easy to sign up
  • Highly diversified portfolios
  • Clear, transparent reporting that is easy to understand

The sooner you start, the sooner you can #10XYourFuture.

Don't wait too long. Apply online or speak to one of our financial consultants who will guide you through your application.

To find out more about our Tax-free Savings Account, click here.

You can also apply online here.

10X Investments is an authorised Financial Services Provider (FSP number 28250). The content herein is provided as general information and is not intended as nor does it constitute tax, legal, investment, or financial advice as defined by the Financial Advisory and Intermediary Services Act, 2002.

The 10X Living Annuity is underwritten by Guardrisk Life Ltd.

10X Fund Managers (RF) (Pty) Ltd is an approved manager of collective investments schemes in securities in terms of Section 42 of the Collective Investments Schemes Control Act, 45 of 2002.

How can we 10X Your Future?

Begin your journey to a secure future with 10X Investments. Explore our range of retirement products designed to help you grow your wealth and achieve financial success.