Tax free investment savings accounts

Our clients will have noted the various advertisements on radio and in the media generally of financial service providers inviting the public to invest in their respective so-called ‘tax free savings’ investment products. These accounts are made possible by section 12T of the Income Tax Act, 58 of 1962, introduced in 2015 as an initiative […]

Incentivising non-retirement savings in South Africa through Tax-free savings accounts

National Treasury introduced the Tax-free savings account and these accounts have been available since 1 March 2015, available through a variety of providers. These accounts are intended for discretionary non-retirement savings and have certain distinct features which should make them very appealing to investors. Even though the intention is that they will be used for […]