Finance Minister Pravin Gordhan has again postponed the date on which you will be able to transfer a tax-free savings account (TFSA) from one provider to another.
When TFSAs were introduced in March last year, providers were given a year to make it possible for you to switch your account from one provider to another. This deadline was postponed to November 1, and this week the minister postponed the date to March 1 next year.
Gordhan also published updated draft regulations making it clear that providers are still not allowed to charge performance fees on TFSA investments and relaxing the rules about accessing money in a fixed-deposit TFSA.