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Momentum tax-free investments

Tax-free savings accounts in South Africa

To encourage a culture of personal savings, Government has for the first time introduced tax-free savings accounts. This means that, when you use these products to save, you will not pay any Capital Gains Tax (CGT) or tax on interest and dividends earned.

How does a tax-free savings account work?

You can invest a lump sum or regular amounts to a tax-free savings account. Your contributions are limited to a maximum of:

  • R33 000 every year; and
  • R500 000 in total over your lifetime.

You can withdraw your money from a tax-free investment at any time. Just remember that it will count against your yearly and lifetime contribution limits.

Momentum tax-free investment options:

  • My Savings Portfolio offers you 3 tax free savings account options with a minimum contribution of R250 a month: Tax-free Education Savings, Tax Free Retirement Savings and Tax-free Dream Savings Savings (contributions must add up to R500 or more).
  • Momentum Wealth Investment Series Flexible Tax-free Option offers you a tax free investment plan with a minimum contribution of R1000 a month.
  • We will monitor your contributions to your tax-free savings products and other investment products with Momentum to make sure that you stay within the legislated limits.

Want to know more about tax-free savings?

Speak to your financial adviser today to get more information about linked investments as an investment vehicle and how you can use the Investo Linked Investment as part of your overall plan to reach. If you don't have a financial adviser, find a certified financial planner to discuss how Momentum can help make your money grow.

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