As per the 2015 Budget Speech and subsequent amendments, South African taxpayers can contribute a maximum of R36 000 per annum and R500 000 over a lifetime into a Tax-Free Savings Account. No taxes are paid on interest earned, dividends received or capital gains. The investment can be made either into cash (via the JSE Trustees Account) or into one or more of the approved Exchange Traded Funds listed on the JSE. Afrifocus Securities is consistently recognised as a top broker in the Tax-Free Savings Account category at the annual Top Stockbrokers Awards, sponsored by the Financial Mail.
Disclaimer: Foreign ETF’s are subject to dividend taxes that are not recoverable.