Tax-free saving account: Is it worth it?

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Mapalo Makhu
Mapalo Makhu

Tax-free savings accounts (TFSAs) have been around for five years and were introduced to encourage a savings culture in South Africa.

Although the uptake in this vehicle has been relatively good, many people still don’t grasp how they work and the big advantage of having one.

The big advantage of having a TFSA is that the money invested will not be subjected to any tax on the interest, dividends, capital gains and withdrawal.

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