Tax-free savings accounts were introduced some 15 months ago, but a recent Sanlam survey shows that many people either don’t know about them or are misinformed about them. If you don’t have a good understanding of how they work, you could be losing out on the opportunity to save paying three different taxes that apply to investments: income tax on interest, dividends tax and capital gains tax. In another feature to mark National Savings Month, Personal Finance corrects the misconceptions about tax-free savings accounts and reaffirms their benefits.
Also in our weekend print edition:
* Proposed legislation to curb tax-avoidance in trusts.
* What the Tax Ombud can and cannot do for you.
* Financial experts answer your questions, courtesy of Old Muutal Wealth.
Personal Finance is published every Saturday in the Pretoria News Weekend, the Saturday Star, The Independent on Saturday and the Weekend Argus.