Tax Free Savings Portfolio

The government has set up regulations that limit you to investing a maximum of R36 000 per tax year and R500 000 over your lifetime in any tax free products. If you set up regular investments, the R36 000 per tax year maximum means you can invest up to R3 000 per month, if you pay for 12 months. These limits are expected to be reviewed from time to time by the government. Maru Asset Managers will not accept more than R36 000 per tax year to be invested into your Tax Free Plan. However, you are able to invest any excess money you have in other investment plans. You can make this arrangement through a financial adviser. If you have more than one tax free savings product then the maximum limits will apply across all your tax free savings products, not per product. The South African Revenue Services (SARS) will levy a tax of 40% on all contributions that exceed R36 000 per tax year.