National Treasury is reforming non-retirement savings in South Africa via tax-free savings accounts.
Tax-free savings and investment accounts are savings products on which no income tax, capital gains tax or dividend withholdings tax will be charged. The idea, which was first introduced in the 2012 Budget Review, aims to encourage household savings and to increase the overall level of savings in the economy.
However, these accounts were launched at the beginning of March 2015. To support this initiative, Strate is lowering its Contract Note Fee for these tax-free savings accounts and investments by 67%. You can access Strate’s latest fees schedule online by clicking here.