Module 3 What you need to know about Tax Free Savings Accounts
1. Welcome! My name is Emily, and I will be assisting
you in this course. Here are some tips on navigating
this course.
Click this icon to move to the next screen
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screen
Click this icon to skip the introduction and go straight
to the course content
This course must be navigated by clicking on the
navigation icons at the bottom of each screen.
Click on this icon to listen to the audio
8. www.companyxyx.co.za
Learn more about our company
Learn more about our people
Learn more about our investments
Get in touch with us
Mmm. I think
I’m going to click
on Learn more
about our
investments.
9. www.companyxyx.co.za
Learn more about our investments
If you have extra money to save
If you are worried about retirement
Get in touch with us
I have extra
money to save,
so I am going to
click on that.
10. www.companyxyx.co.za
If you have extra money to save
Why not consider our Tax Free Savings Account (TFSA)?
You are not locked in for a specific period, and the growth of the investment is tax free.
You can invest a maximum of R36 000 per tax year
11. www.companyxyx.co.za
If you have extra money to save
Why not consider our Tax Free Savings Account (TFSA)?
You are not locked in for a specific period, and the growth of the investment is tax free.
You can invest a maximum of R36 000 per tax year
I like the sound
of this. I think I
will give them a
call.
12. Meet Mary. Mary works in the Call
Centre of Company XYZ. Mary
happens to be working through an
elearning course on the Tax Free
Savings Account to refresh her
knowledge on this product.
14. How much can I contribute?
Where is the money invested?
Are there any restrictions?
What happens when I die?
Who can invest in a TFSA?
Can withdrawals be done?
What will it cost me?
Go to assessment
15. Where is the money invested?
Are there any restrictions?
What happens when I die?
Can withdrawals be done?
What will it cost me?
Go to assessment
Monthly
Quarterly
Half-yearly
Yearly
R3000
R9000
R18000
R36000
In your life time R500 000
How much can I contribute?
16. Where is the money invested?
Are there any restrictions?
What happens when I die?
Can withdrawals be done?
What will it cost me?
Go to assessment
Monthly
Quarterly
Half-yearly
Yearly
R3000
R9000
R18000
R36000
In your life time R500 000
How much can I contribute?
17. Where is the money invested?
Are there any restrictions?
What happens when I die?
Can withdrawals be done?
What will it cost me?
Go to assessment
Monthly
Quarterly
Half-yearly
Yearly
R3000
R9000
R18000
R36000
In your life time R500 000
How much can I contribute?
18. Where is the money invested?
Are there any restrictions?
What happens when I die?
Can withdrawals be done?
What will it cost me?
Go to assessment
Monthly
Quarterly
Half-yearly
Yearly
R3000
R9000
R18000
R36000
In your life time R500 000
How much can I contribute?
19. Where is the money invested?
Are there any restrictions?
What happens when I die?
Can withdrawals be done?
What will it cost me?
Go to assessment
Monthly
Quarterly
Half-yearly
Yearly
R3000
R9000
R18000
R36000
In your life time R500 000
How much can I contribute?
20. Where is the money invested?
Are there any restrictions?
What happens when I die?
Can withdrawals be done?
What will it cost me?
Go to assessment
Monthly
Quarterly
Half-yearly
Yearly
R3000
R9000
R18000
R36000
In your life time R500 000
Mmm. I wonder
what happens if
the investor
invests more
than R36000 in
one tax year?
How much can I contribute?
21. Where is the money invested?
Are there any restrictions?
What happens when I die?
Can withdrawals be done?
What will it cost me?
Go to assessment
The amount exceeding R36 000 is
taxed at 40%
R500 000
If the investor contributes more than
the maximum amount per tax year
22. Where is the money invested?
Are there any restrictions?
What happens when I die?
Can withdrawals be done?
What will it cost me?
Go to assessment
Individuals only
No minimum or maximum age
R500 000
Who can invest in the TFSA?
South African tax payers only
23. Where is the money invested?
Are there any restrictions?
What happens when I die?
Can withdrawals be done?
What will it cost me?
Go to assessment
A range of collective investment,
including ETFs, wrap funds
A range of money market funds
Share portfolios are not allowed
R500 000
Where is the money invested?
24. Where is the money invested?
Are there any restrictions?
What happens when I die?
Can withdrawals be done?
What will it cost me?
Go to assessment
Yes, but cannot be paid back
If a contribution is done after a
withdrawal, it’s a contribution and not
paying back the withdrawal amount
This can result in over contributions
R500 000
Are withdrawals allowed?
Example
25. Where is the money invested?
Are there any restrictions?
What happens when I die?
Can withdrawals be done?
What will it cost me?
Go to assessment
Invest R36 000 in March
In June the same year, R15 000 is
withdrawn
In November the same year, R10 000
is added to the investment
R500 000
Are withdrawals allowed?
This will result in a total contribution
of R46 000 in the tax year
26. Where is the money invested?
Are there any restrictions?
What happens when I die?
Can withdrawals be done?
What will it cost me?
Go to assessment
Maximum contribution amounts per
tax year
Withdrawals are allowed but cannot
be paid back
R500 000
Are there any restrictions?
27. Where is the money invested?
Are there any restrictions?
What happens when I die?
Can withdrawals be done?
What will it cost me?
Go to assessment
Collective Investment Scheme fees,
charged within the fund
No administration or platform fees
R500 000
What will it cost me?
28. Where is the money invested?
Are there any restrictions?
What happens when I die?
Can withdrawals be done?
What will it cost me?
Go to assessment
Forms part of our estate
Estate duty may be applicable
R500 000
What happens when I die?
If transferred to a beneficiary, then
the transfer is seen as a contribution
Investment returns remain exempt
from tax
29. Well done on reaching the end of the
elearning course!
