Stockbroker vs other tax-free accounts

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• First to market with tax-free savings accounts

Stuart Theobald 21 May 2015

So far three main types of tax-free accounts have been introduced to the market. Banks have come to market with deposit based accounts including both call and fixed deposits offering tax-free interest rates. Various unit trust providers have also launched tax-free savings accounts through which qualifying unit trusts can be invested in. But arguably the most interesting form of tax-free account are stockbroker accounts.

These are interesting because they are not specific investments. Rather, you can choose from a range of qualifying exchange-traded funds to hold in the accounts, or leave it to your broker to manage a discretionary portfolio of shares on your behalf.