On 01 March 2015 National Treasury introduced tax-free investments for all South Africans, in a bid to encourage personal savings. The return you earn on your investment is completely tax free! The SatrixNOW platform makes tax-free investing easy – make sure you don’t miss out.

highlights
  • You are allowed to contribute up to R 33 000 per tax year, and you have a lifetime contribution limit of
    R 500 000.
  • You can deposit and access your funds whenever it suits you.
  • You’re allowed to invest in any of the Satrix ETFs because they are all approved products for tax-free investing.
  • Any profits you make don’t contribute to your annual or lifetime limits. This means that you can reinvest the interest and dividends, growing your investment even more!
NB points to note:
...

If you exceed the annual and lifetime limits, there are penalties (SARS will charge you a 40% tax on all contributions that exceed these amounts – so don’t over contribute). You will have to monitor your contributions across all tax-free savings accounts and make sure all your contributions amount to only R 33 000 per tax year.

...

Any amount that you withdraw from your account will count towards your annual and lifetime limit. If you have contributed R 33 000 and withdraw
R 15 000 in the same year, you cannot deposit any more funds as you have already used your R 33 000 contribution allowance. It’s all about the contribution limit, so withdraw funds wisely!

Need more details? GO TO THE FAQs

Our tax-free
plans for
you.

As you know by now, we’re always focused on making investing affordable and straightforward for you. We’ve designed our TFSA with these principles in mind!

We’ve kept our TFSA fees exactly the same as the standard SatrixNOW account. Take a look at just how little it will cost you by clicking here

To make the process straightforward, SatrixNOW automatically issues you with a tax-free savings account (TFSA) when you open a standard account. No additional application forms, no verification process...

All you need to do is select the TFSA from your drop-down menu and then make your tax-free investment in three easy steps.

Deposit money into your TFSA.

Your TFSA will have its own account number, so make sure you include this as a reference for all deposits you make. If you’d like to transfer cash from your standard SatrixNOW account into your TFSA, you’ll need to withdraw the cash and deposit it into your bank account first. Then you can transfer it to your TFSA.

Take note of when your funds are being reflected.

Once your available funds are being shown in your TFSA, then you’re ready to invest! Remember that all Satrix ETFs are permitted products for tax-free investing.

Click to invest.

Simply click on your chosen Satrix ETF, enter your investment amount, and confirm your decision.


How does our TFSA account compare with our standard SatrixNOW account?

COMPARE SatrixNOW STANDARD SatrixNOW TFSA
CAPITAL GAINS TAX (CGT) EXEMPT
DIVIDEND WITHHOLDING TAX (DWT)
ON DIVIDENDS EARNED
EXEMPT
TAX ON INTEREST EARNED EXEMPT
FEE COMPARISON
MONTHLY ACCOUNT COST FREE FREE
MINIMUM INVESTMENT AMOUNT NO MINIMUMS NO MINIMUMS
COMPARISON ON INVESTING INVESTING R250
BROKERAGE COMMISSION EXCL. VAT R0.63 (0.25%) R0.63 (0.25%)
STATUTORY COSTS R0.32 (STT EXEMPT) R0.32 (STT EXEMPT)
TOTAL TRANSACTION COST R0.95 R0.95
AMOUNT INVESTED R249.05 (99.62%) R249.05 (99.62%)
Need more details? GO TO THE FAQs