SBG Securities launches tax-free savings & investment accounts

Colin Anthony
By Colin Anthony April 22, 2015 10:07

Marketing release 22 April 2015

Standard Bank subsidiary SBG Securities has launched a Tax-Free Savings and Investment Account (TFSA) giving you the opportunity to invest in selected JSE listed instruments tax-free!

The benefits of a TFSA account are:

• No Securities Transfer Tax (STT)
• No Capital Gains Tax (CGT) when you sell these products
• No Dividend Withholding Tax (DWT) on dividends earned
• No tax on interest earned.

Key features of the TFSA account are:

• There is a R30 000 annual contribution limit and a R500 000 lifetime contribution limit.
• Selected Exchange Traded Funds (ETFs) are suitable.
• Profits made in the TFSA account do not contribute to existing tax annual limits (interest and capital gains), and may be re-invested in the TFSA account without utilising the contribution limit, provided they are not withdrawn.
• There are penalties for exceeding the R30 000 annual contribution limit.

For more details on Standard Bank’s offering, click here.

 

 

Colin Anthony
By Colin Anthony April 22, 2015 10:07
Researching Capital Markets & Financial Services

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Researching Capital Markets & Financial Services