Certified financial planner Paul Roelofse talks about the benefits of having a tax free accounts.
Certified financial planner Paul Roelofse says having a tax free saving account is beneficial and parents can use it to teach children about savings.
Speaking to Refiloe Mpakanyane, Roelefse says it is easy to open a tax free account and people should take advantage of that.
Why is it so useful, its because it has the same tax exemptions as a retirement annuity fund. Tax-free saving account starting blocks come with T & Cs but when you get to understand them you will see the benefits.
Paul Roelofse, Certified Financial Planner
Everyone can open it up, even your children. You are limited to R36,000 a year up to an overall limited lifetime of R500,000. You have to be mindful of withdrawals from a tax-free tax account because you don’t get it back, the limit is always there.
Paul Roelofse, Certified Financial Planner
Listen to the full interview below: