YOUR MONEY | Make the most of your tax-free investment

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(Photo: GALLO IMAGES/GETTY IMAGES)
(Photo: GALLO IMAGES/GETTY IMAGES)

The main benefit of tax-free investments is the total returns you earn on them, whether it’s interest, capital gains or dividends, don’t get taxed.

This means you’re getting the total growth on the money you invest, apart from any fees payable.

This is a good tax incentive, but you also must ensure you use it correctly. In this year’s national budget the tax-free contributions annual limit was raised from R33 000 to R36 000.

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