Do you have a Tax-Free Savings Account?

[Bradley Prior]

Do you have a Tax-Free Savings Account?

 

[LazyLion]

Yes, all five members of our family have been doing this for a decade now. Easiest way to get your investments started.

 

[Jan van Riebeeckstad]

Nice try scammer

 

[Prawnapple]

Yes, but unless you're putting your R46k per year into it, you're probably better off putting that excess cash into an RA and then getting a better return on your tax the following year, then doing the same thing, ad infinitum.

 

[Dimpie (JIGSAW)]

You need money to save to actually have one, so NO

 

[Jan van Riebeeckstad]

Life hack

Drop 300k in a RA , get a 46k refund to fund you tax free savings account.

 

[FiestaST]

Yebo, massive advocate for one.

Just waiting for a few months of salary bucks from the new job & will max it off for the tax year.

I can do it now but I/Claude ran the numbers vs funds sitting in my MM account at a certain balance vs pulling the full R46k out & maxing it out at this point.

There is enough time before 28th Feb '27, growth "loss" notwithstanding.

 

[Brian_G]

Other - little to no new income

 

[Death]

My brain doesn't quite comprehend the point of the account (due to it's limits etc) Anyone care to share a bit of in depth knowledge?

 

[Smiggles]

My brain doesn't quite comprehend the point of the account (due to it's limits etc) Anyone care to share a bit of in depth knowledge?

All growth is tax free. That alone makes it a no brainer.

 

[Smiggles]

Yes also water is wet and water takes the shape of the container it's in.

 

[LazyLion]

My brain doesn't quite comprehend the point of the account (due to it's limits etc) Anyone care to share a bit of in depth knowledge?

 

[vastrap1]

Yes also water is wet and water takes the shape of the container it's in.

Ice water cubes doesn't??

 

[Bigmhlobo]

Nice try scammer

Hawu

 

[DarkWater]

No money to save, so no

 

[AnimateX]

My brain doesn't quite comprehend the point of the account (due to it's limits etc) Anyone care to share a bit of in depth knowledge?

Well basically there is this account that you can top up that is tax free if you ever plan to cash it out. . You might die before you get to that point though, still interested?