Tax season tips – how to boost your savings
AND WIN a R5000 Sygnia Money Market Unit Trust investment.
What can I do to save on tax for the 2017/2018 tax year?
You can invest in a Sygnia Retirement Annuity or Tax Free Savings Account before 28 February 2018 to take advantage of 2017/2018 tax breaks, AND invest in some of the most innovative funds in South Africa.
What is a Retirement Annuity (RA) and why do I need one?
It’s a good way to boost your retirement savings: an RA is an individual retirement savings plan that helps you save for retirement in a tax-efficient way. Keep in mind that this is a long-term investment, since you can only retire after the age of 55. At retirement, you can take a maximum of one third in cash; the rest must be used to buy an annuity, which will pay you a monthly income.
What is a Tax Free Savings Account (TFSA) and why should I have one?
The ‘why?’ is easy: it’s tax-free! It’s also a great way of saving for short or long-term goals without paying tax on the growth or income you earn. Plus, you are not taxed on withdrawals or termination of the account, and you have instant access to your money whenever you need it. With a TFSA, you can save up to R33000 a year on a tax-free basis, with a maximum of R500000 over your lifetime.
Sygnia offers both unit trusts and exchange traded funds (ETFs)
- Unit trusts allow you to invest small amounts of money into a diversified portfolio.
When it comes to RA investing, many unit trusts are designed to meet the new regulatory limits for investments, making
them an easy and compliant investment option.
- Exchange Traded Funds (ETFs) are similar to unit trusts, but are listed on a stock exchange. You can choose from a variety of ETFs that track either local or international indices as well as commodities. ETFs offer
great offshore exposure.
Why invest with Sygnia?
- Monitor and manage your investments 24/7 with our secure Sygnia Alchemy platform
- Decide how you want to invest – lump sum, debit order, or both – the choice is yours
- Stop investing at any time with no penalties
- Invest directly with Sygnia or through your financial advisor
QUESTION: What is the maximum amount you can invest in a TFSA over your lifetime?
Terms And Conditions
The promoter is Sygnia Collective Investments, a registered and approved Manager under the Collective Investment Scheme Control Act, 2002. In accepting the prize, the prize winner agrees to be bound by the promoters investment process and completion of relevant application forms. The prize winner will be required to complete and submit all relevant documentation in order to comply with current legislation, e.g FICA.
In accepting the prize, the prize winner acknowledges that Sygnia Collective Investments does not provide any guarantee with respect to the capital or return of a portfolio and Collective Investment Schemes may be exposed to certain types of risks . A schedule of fees, associated risks and further information can be viewed at www.sygnia.co.za
The investment will be subject to Sygnia’s fees and charges.
Closing date: 28 February 2018.