Did you know you can make a tax-free investment of R30 00 per year?
Since the 1st of March 2015, you can make a R30 000 per annum tax-free investment at an approved investment house. This means all interest and dividends earned on this investment is tax free. No capital gains either on profits made.
There is a live limit of R500 000 capital contribution per person.
If you want to make more than R30 000 per year tax-free savings, you will be penalised 4% on the additional amount. But the point is, you can make R30 000 tax-free savings. Isn’t that great?
Types of accounts that will qualify for a tax-free investment:
- Fixed deposits
- Unit trusts and collective investment schemes
- Retail savings bonds
- Certain endowments policies
- Linked investment products
Phone a bank or investment house and find out about their tax-free savings options and once a year they will issue you with a IT3(b) that you can use when submitting your tax return.
There are conditions to this as a tax-saving, so why not let Anlo advise you on how to use this as a tax saving?
Contact us now to find out more - email@example.com