Did you know you can make a tax-free investment of R30 00 per year?

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Tax free

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 - contactus@anlo.co.za