i What this calculator does
This calculator projects your Tax-Free Savings Account growth over time, and tracks your contributions against the R46,000 annual limit and R500,000 lifetime cap, flagging if you're on track to exceed either.
Enter your monthly contribution, expected growth rate, and years invested, and the calculator returns your projected tax-free value and contribution limit status. Note that forex and CFD trading aren't TFSA-eligible under South African rules.
This calculator is for educational purposes only, uses current 2026/27 TFSA limits, and doesn't account for fees. Not financial advice.
How to use the TFSA Calculator
The inputs carry workable values from the start. Nothing has to be entered to get a number on screen.
- 1. Monthly Contribution (R) R3,833/month = R46,000/year, the full annual limit.
- 2. Years Investing
- 3. Expected Annual Growth Rate (%)
- 4. Already Contributed to Date (R)
The result panel reports:
- Projected Tax-Free Value After
- Annual Limit Status R
- Years to Lifetime Cap At this contribution rate
Alongside the headline figures, the calculator reports projected tax-free value, annual limit status, years to lifetime cap, total growth. Those are the numbers that usually explain why the headline result came out where it did.
The method is visible: the steps sit directly below the result.
Write down the assumptions with the answer. A result without its inputs is impossible to revisit, and revisiting is usually where the value is.
Save the inputs with the output. When circumstances change, knowing which assumption moved is faster than running the whole thing again from memory.
Frequently asked questions
What is the current annual TFSA contribution limit?
The annual contribution limit is R46,000 per tax year (raised from R46,000, the first adjustment since 2021), with a lifetime cap of R500,000. Exceeding either limit triggers a 40% penalty tax on the excess amount.
Can I withdraw from my TFSA without losing the tax benefit?
Yes, but withdrawals don't restore your contribution room, if you contribute R46,000, withdraw it, then re-contribute, that re-contribution still counts against your annual and lifetime limits, TFSAs aren't designed for frequent in-and-out use.
Are forex and CFD trading profits eligible for TFSA tax benefits?
No, South African TFSAs are structured for specific approved investment products like unit trusts and ETFs, not for leveraged forex or CFD trading, which falls outside TFSA-eligible structures entirely.
What happens if I contribute more than R46,000 in a year?
SARS applies a 40% penalty tax on any amount contributed above the annual limit, this penalty is separate from and in addition to normal income tax, making over-contribution a costly mistake worth avoiding carefully.
How long would it take to reach the R500,000 lifetime cap?
Contributing the full R46,000 annual limit consistently would reach the R500,000 lifetime cap in just under 11 years, after which no further contributions are permitted regardless of how much investment growth has occurred within the account.
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