It’s been five years since National Treasury introduced tax-free savings accounts to encourage South Africans to invest. With a TFSA there is no tax on interest or dividends received, and no capital gains tax on funds withdrawn.The good news is that with effect from 1 March 2020, the annual limit is increased from R33 000 to R36 000. The overall lifetime limit has, however, remained unchanged since 2015, at R500 000.
* Assumes: CPI at 6%; 30% marginal tax rate; portfolio return consists of 15% interest, 25% dividends and 60% capital; interest and capital exemptions are not taken into account.While National Treasury has been generous with the TFSA, interest and capital gains exemptions have not been adjusted in recent years. The R23 800 / R34 500 annual interest exemption amounts have remained unchanged since 2014 and the R40 000 annual exclusion from capital gains has been in force since 2017.
Belgique Dernières Nouvelles, Belgique Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
World stocks gain on better-than-expected China dataSome countries are also slowly lifting restrictions in place to curb the Covid-19 pandemic
La source: BDliveSA - 🏆 12. / 63 Lire la suite »