TAX EXEMPT SAVINGS ACCOUNT
1 June 2016 By PDSNETThe TFSA was brought in in 2015 to encourage people to save. It is a savings account which attracts no income tax, capital gains tax or interest tax. Each natural person can have one TFSA into which they can put a maximum of R33 000 per annum or a total of R500 000. If money is withdrawn from the TFSA it cannot be put back.
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