What you put in is what you should get out! We believe this should apply to your savings, with interest. With a Sasfin Tax-free Account (TFSA), you earn interest that is free from Income Tax. You need to make an initial investment of R10 000 (up to R36 000) per tax year, with a lifetime limit of R500 000.
|NOMINAL RATE||ANNUAL – EFFECTIVE RATE|
|Tax-free Savings Account||4.15%||4.23%|
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Use this tool to calculate your monthly income tax and the tax deductions available and compare it to last year's monthly income tax and tax deductions. Please use your monthly income, retirement contributions and medical expense amounts in this calculator.