Tax Free Savings

Product Descriptor

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.

Click here to see list of approved Tax-Free Exchange Traded Funds (ETFs).

Why should I invest in a Tax Free Savings?

By investing in the portfolio, you'll have:

• Access to your portfolio manager

• Full transparency with real-time access to your portfolio,   24/7

• Low costs because we trade directly on the JSE

• A personal portfolio in your own name

We provide all regulatory SARS documentation annually.

Who should invest in it?

The Tax-Free Savings Account is for people who:

• Want to start saving for their children's education

• Want to supplement their retirement savings

• Minimize their income tax burden

We normally advise clients to invest for at least three years in this portfolio. However, the longer you invest the greater your potential tax-benefits.

What are the fees?

We strive to have complete transparency with regards to our portfolios. There are neither initial fees nor management fees charged. An annual administration fee of 0.5% per annum on the assets managed, is charged quarterly in arrears JSE. (Refer to mandate).

What's the minimum I can invest?

We recommend clients use their full tax free allowance every year. Speak to one of our Portfolio Managers for more information.