Maximise the benefits of tax-free compound interest for this tax year
In order to maximise the benefits of tax-free compound interest for this tax year, investors have less than two weeks to consider a lump sum contribution to a tax free savings vehicle. The deadline is the end of February this year if an investor has not yet reached their annual contribution limit, and ideally their retirement annuity has been topped up. Investors may contribute up to a maximum of R30 000 in total for the tax year (and R500 000 over their lifetimes).