MoneyMarketing: TFSA’s – Why listed property is the most tax efficient option
Tax free savings accounts (TFSAs) were first introduced in South Africa in March 2015 to encourage household savings. Neither income earned nor capital gains are taxed in these savings accounts. The annual allowance for TFSAs was raised in the 2018 tax year from R30 000 to R33 000 per annum, with a capped lifetime limit in contributions of R500 000. The decision of where best to allocate the R33 000 annual allowance is not always an obvious one for investors. Liliane Barnard, CEO of Metope Investment Managers, comments.