More money when you need it most
A tax-free savings account (also known as a "TFSA") is a great way to save for long term goals without paying tax on interest earned or dividends received. You will have easy access to your funds and won't pay tax when you make withdrawals.
You don't pay tax on any interest, dividends or capital gains
You can withdraw your money at any time
You can contribute up to R36 000 per year
You can have more than one Tax-free savings account
A proven track record of consistent superior returns
We keep fees as low as possible
A highly diversified portfolio
More time, more money, more tax saved
Tax savings increase over time as you earn compound growth on the tax saved.
In this example, you could end up with 30% more money simply by investing in a TFSA instead of a regular savings investment.
The example assumes you invest R3,000 per month for 13 years and 10 months with a final contribution of R2,000 in the 11th month when the lifetime contribution of R500,000 is reached. The investment earns 11% per annum and has an equal return split between income, dividends and capital gains.
The personal tax rate is 45%.
Get more years of retirement income with our 10X Your Future Fund
Value of the investment after 13 years and 11 months
What you need to know
Making sense of tax-free savings accounts
All proceeds earned from a Tax Free Savings Account are exempt from tax. This means that you get your full investment return without being taxed on the growth you earn.
The maximum amount you can contribute to a Tax Tree Savings Account is R36 000 per year and the maximum lifetime contribution is R500 000.
Investors typically start seeing the returns of their Tax-free savings account matching or exceeding their contributions after about ten years.
You can choose to contribute monthly, quarterly, annually or on an ad hoc basis. You can also stop and change your contributions to suit you.
Tax-free savings accounts for kids
Parents and legal guardians can set up a Tax-Free Savings Account in their child‘s name online.
Transfer your tax-free savings account
You can transfer your Tax-Free Savings Account from one provider to another without penalties.
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If you are ready to invest or switch, head over to our self-help portal and set up your investment within minutes.Apply online
Benefits of the 10X Your Future Fund
This fund consistently outperforms other leading fund managers, so it's not surprising that most 10X investors choose this fund to help them reach their long-term goals.
Benefits of the 10X Future Fund
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