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Be tax savvy and grow your investments tax-free

We’re approaching the end of the tax year and there’s no time like the present to review your contributions to your tax-free savings accounts and retirement annuities to maximise the tax benefits these types of investments offer.

Tax-free investing

How much can I invest?

The yearly contribution in a tax-free investment is R33 000 in a tax year or R500 000 over a lifetime. Learn more

What are the benefits?

  • You can grow your savings without paying tax on any of the growth your money earns.
  • By paying no tax, your money grows faster.

Retirement annuity

How does it work?

Contributions to retirement annuities are tax deductible, within certain limits.

The maximum tax deduction you can take in a tax year is limited to 27,5% of taxable income from your employer, subject to a yearly limit of R350 000. Learn more

If you haven’t used the full tax deduction available to you for the year, you can make an additional lump sum payment to your retirement annuity before the tax year ends on 28 February.

Speak to a financial adviser about Momentum’s tax-free investments and retirement annuities and find out how you can get the most from tax-free growth.