Tax free transfers

J

JayM

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I know transfers between institutions are now possible, but is it possible to transfer funds in a tax free cash deposit to a different type of investment (shares, unit trust or ETF)? I have an FNB tax free savings account which I would like to move as it's really a waste of the allowance.
 
JayM said:
I know transfers between institutions are now possible, but is it possible to transfer funds in a tax free cash deposit to a different type of investment (shares, unit trust or ETF)? I have an FNB tax free savings account which I would like to move as it's really a waste of the allowance.
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I'd imagine a transfer should be feasible as long as it's in the same type of tax wrapper.

Maybe try a cross institution transfer...that just happens to be diff type of invest?

backstreetboy said:
How else do you want to buy the shares, UT's or etfs?????
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:confused:
 
HavocXphere said:
I'd imagine a transfer should be feasible as long as it's in the same type of tax wrapper.

Maybe try a cross institution transfer...that just happens to be diff type of invest?
Click to expand...

Thanks, will give that a try. The process is probably going to be annoying while they iron out the teething problems.
 
JayM said:
Thanks, will give that a try. The process is probably going to be annoying while they iron out the teething problems.
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Phone both side & confirm that they're treating it as a transfer rather than withdrawal/addition so that it shows up as such on the IT3(s). If you can get that cleared then you should be all good.

backstreetboy said:
Stupid question.
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Perhaps review the posts in this thread & reassess what's stupid.
 
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