The Johannesburg Stock Exchange (JSE) has announced the launch of its Tax Free Savings Account (TFSA) initiative.<\/p>\n
The new tax free savings regulations effective from 1 March<\/span> was initiated by the National Treasury to improve savings amongst South Africans and reduce household indebtedness.<\/p>\n The JSE\u2019s TFSA intends to align with the National Treasury\u2019s goal, but also ensure that investors are given access to the exchange in a cost effective manner, the JSE said.<\/p>\n \u201cOur offering of TFSAs will add to the JSE\u2019s range of existing initiatives aimed at improving retail participation on the exchange. It is our intention to support and improve South Africa\u2019s culture of savings by providing investment products through a tax free savings account,\u201d said Mpho Ledwaba, head of marketing at the JSE.<\/p>\n The exchange’s offering will be rolled out in collaboration with approved stockbrokers in providing a platform which allows for individuals to invest in selected JSE listed instruments, such as Collective Investment Scheme (CIS) Exchange Traded Funds tax free. These ETFs will enable investors to diversify their risk by buying into a basket or variety of securities through a single product security.<\/p>\n \u201cOur brokers have been carefully selected to guide investors along their investment and savings journey, by providing them with information and bespoke financial advice,\u201d said Ledwaba.<\/p>\n The JSE\u2019s TFSA offers potential investors the following features and benefits:<\/p>\n Black vs white ownership on the JSE<\/a><\/p>\n\n
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