New R33 000 annual limit for TFSA - 2017/18

[supersunbird]

The annual allowance for tax-free savings accounts will be increased from R30 000 to R33 000 per annum.

https://www.moneyweb.co.za/in-depth/budget/personal-income-tax-this-is-what-youll-pay-2/

 

[Chevron]

Good news on the tax free savings account.

 

[Tomtomtom]

Hopefully they'll eventually change the withdrawal rules so that the contribution limit is increased by any amount you withdrew in the previous year. That no-replacement thing is discouraging people from even getting started.

 

[Alton Turner Blackwood]

Hopefully they'll eventually change the withdrawal rules so that the contribution limit is increased by any amount you withdrew in the previous year. That no-replacement thing is discouraging people from even getting started.

Not only that. None of the funds they have available are really performing.

I actually withdrew almost my entire contribution after 2 years of basically zero growth. Instead I've transferred the withdrawn amount to a normal trading account with EE; since December my portfolio is already up 4%.

And no income tax hassles, I buy, but don't sell.

 

[JStrike]

Not only that. None of the funds they have available are really performing.

I actually withdrew almost my entire contribution after 2 years of basically zero growth. Instead I've transferred the withdrawn amount to a normal trading account with EE; since December my portfolio is already up 4%.

And no income tax hassles, I buy, but don't sell.

You're blaming the Tax Free Account system for your poor choice?

 

[modern10]

You're blaming the Tax Free Account system for your poor choice?

And it's an investment, two years is way too short of a investment period.

 

[justplain]

YAY, I'll increase my 5 TFSA's by R50 a month each. woohooo!

When does this kick in ? From April 2017?

 

[Radioboy]

YAY, I'll increase my 5 TFSA's by R50 a month each. woohooo!

When does this kick in ? From April 2017?

Should be first of March as far as I know.