{"id":559640,"date":"2022-02-17T08:45:16","date_gmt":"2022-02-17T06:45:16","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=559640"},"modified":"2022-02-17T08:45:16","modified_gmt":"2022-02-17T06:45:16","slug":"tax-seasons-almost-over","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/industry-news\/559640\/tax-seasons-almost-over\/","title":{"rendered":"Tax season\u2019s almost over"},"content":{"rendered":"<h3 class=\"my-4\">Take advantage of your annual tax-free allowance by investing before end-February<\/h3>\n<p>Did you know that there is an easily accessible investment product for South Africans in which you don\u2019t have to pay any tax on your investment growth (interest income, dividend or capital gains)?<\/p>\n<ul>\n<li><a href=\"https:\/\/www.coronation.com\/en-za\/personal\/invest-tax-free\/?utm_source=BusinessTech&amp;utm_medium=BusinessTechArticle&amp;utm_campaign=TaxFree2022\" target=\"_blank\" rel=\"noopener\"><strong>Click here to find the right Coronation tax-free investment fund for you.<\/strong><\/a><\/li>\n<\/ul>\n<p>It\u2019s called a tax-free investment (TFI) and you can start investing in one today for as little as R250 a month with Coronation.<\/p>\n<p>Many South Africans don\u2019t know that the government offers a tax break with no strings attached to encourage you to save \u2013 You are allowed to invest up to R36 000 each tax year tax free!<\/p>\n<p>With the current tax year ending on 28 February, now is the time to take full advantage of this year\u2019s allowance before it\u2019s too late.<\/p>\n<p>At Coronation, we encourage you to start investing tax-free as early as possible and to keep that money invested for as long as possible. Here\u2019s why:<\/p>\n<h3 class=\"my-4\"><strong>First in<\/strong><\/h3>\n<p>If you are starting your investment journey or have extra money to invest for yourself or your children, <em>first<\/em> consider taking advantage of your annual tax-free allowance.<\/p>\n<p>By starting to invest tax-free early, you give yourself the best opportunity to benefit from investment returns that not only compound over the long term, but compound tax-free over the long term.<\/p>\n<p>While you can withdraw your cash from a TFI whenever you like, you can\u2019t put it back.<\/p>\n<p>All amounts invested count towards your annual (R36 000) and lifetime (R500 000) tax-free limits regardless of any withdrawals you make.<\/p>\n<p>In other words, you can\u2019t \u2018replace\u2019 the money you withdraw with a new investment.<\/p>\n<p>So, we encourage you <strong><a href=\"https:\/\/www.coronation.com\/en-za\/personal\/tax-free\/demonstrating-the-long-term-power-of-tax-free-investing\/?utm_source=BusinessTech&amp;utm_medium=BusinessTechArticle&amp;utm_campaign=TaxFree2022\" target=\"_blank\" rel=\"noopener\"><strong>to start building up to that lifetime limit early<\/strong><\/a><\/strong> (and to keep that money invested) to maximise the time it has to benefit from compound growth (as is clear from the graph below).<\/p>\n<div id=\"attachment_346926\" style=\"width: 650px\" class=\"wp-caption aligncenter\"><a  data-lightbox=\"post-image\" href=\"https:\/\/test.businesstech.co.za\/news\/wp-content\/uploads\/2022\/02\/unnamed-3-scaled.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-346926\" class=\"wp-image-346926\" src=\"https:\/\/test.businesstech.co.za\/news\/wp-content\/uploads\/2022\/02\/unnamed-3-scaled.jpg\" alt=\"\" width=\"640\" height=\"360\" \/><\/a><p id=\"caption-attachment-346926\" class=\"wp-caption-text\">Click on the graph to enlarge<\/p><\/div>\n<h3 class=\"my-4\"><strong>Last out<\/strong><\/h3>\n<p>A TFI is money that you ideally want to <em>leave<\/em> invested for as long as possible.<\/p>\n<p>The longer you leave your money invested tax-free, the harder compounding will work for you.<\/p>\n<p>So, for example, if you are saving for short-term goals such as a holiday or a deposit on a car, rather do so separately and leave your TFI to grow over time.<\/p>\n<h3 class=\"my-4\"><strong>Good things come to those who don&#8217;t wait to invest tax free<\/strong><\/h3>\n<p>You can start investing tax-free with Coronation via a monthly debit order from as little as R250, or you can make lump-sum investments from R5 000 up to R36 000 at any point during the tax year.<\/p>\n<p>If you have an existing tax-free savings account with a bank, you can easily switch it to a TFI at no cost.<\/p>\n<p>Tax season\u2019s almost over. So get in now by finding the right Coronation tax-free investment fund for you <strong><a href=\"https:\/\/www.coronation.com\/en-za\/personal\/invest-tax-free\/?utm_source=BusinessTech&amp;utm_medium=BusinessTechArticle&amp;utm_campaign=TaxFree2022\" target=\"_blank\" rel=\"noopener\"><strong>here<\/strong><\/a><\/strong> or speak to your financial adviser.<\/p>\n<p><em>Coronation is an authorised financial services provider.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Did you know that there is an easily accessible investment product for South Africans in which you don\u2019t have to pay any tax on your investment growth (interest income, dividend or capital gains)? It\u2019s called a tax-free investment (TFI) and you can start investing in one today for as little as R250 a month with Coronation.<\/p>\n","protected":false},"author":57,"featured_media":559642,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10459],"tags":[10917],"class_list":["post-559640","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industry-news","tag-coronation"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/559640","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/57"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=559640"}],"version-history":[{"count":3,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/559640\/revisions"}],"predecessor-version":[{"id":559716,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/559640\/revisions\/559716"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/559642"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=559640"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=559640"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=559640"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}