FAQ: A bit about Tax Free Savings?

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A tax free savings account allows you to save and 'store' that money with out having to pay tax. The limitations of this account is that you can only invest a maximum of R30,000 per year and up to a maximum of R500,000 in total.

BUT if you invest the full R500,000 over 16 years - all the interest you earn on that investment will be tax free. Compound interest can work really well for you here.