Business 23.6.2016 10:18 am

SA is loving tax-free saving

But the majority of them are cash investments with banks.

New research from Intellidex released on Wednesday shows that 262 493 tax-free savings accounts (TFSAs) were opened in South Africa during the last tax year. This translates into around 700 new accounts being opened every day, and Intellidex notes that this rate remained fairly stable through the 12 month period.

SA is loving tax-free saving
SA is loving tax-free saving

SA is loving tax-free saving

But the majority of them are cash investments with banks.

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