| Limit | Amount | Applies to |
|---|---|---|
| Annual contribution | R46,000 | Each tax year, 1 March to end February |
| Lifetime contribution | R500,000 | Across all accounts, for life |
| Penalty on excess | 40% | Of the amount contributed above either limit |
| Number of accounts | No limit | But the limits apply across all of them combined |
| Minimum age | None | A parent may open one for a minor, against the child's limits |
| Tax | Outside a TFSA | Inside |
|---|---|---|
| Interest | Taxed at your marginal rate above the exemption | Exempt |
| South African dividends | 20% withheld | Exempt |
| Capital gains | 40% included at your marginal rate | Exempt |
| Foreign dividends | Taxed with a partial exemption | Foreign withholding still applies |
| REIT distributions | Taxed as income | Exempt |
| Instrument | Allowed |
|---|---|
| JSE-listed ETFs | Yes, if the fund is approved for TFSA use |
| Unit trusts | Yes, most |
| Fixed deposits and bank products | Yes |
| Retail savings bonds | Yes |
| Individual JSE shares | No |
| Derivatives and CFDs | No |
Data maintained by TradeAnswers · updated as the figures change