My road to 500k - TFSA
Road to 500k – TFSA It’s been just over 8 years since Tax-Free Savings Accounts (TFSA) were introduced in South Africa. The TFSA program was officially launched on the 1 st of March 2015, as part of the National Treasury's efforts to promote a culture of saving and financial independence among South African citizens. It was introduced under Section 12T of the Income Tax Act from 1st March 2015. As someone who took advantage of this investment vehicle from the beginning, and has maxed out contributions every year, I have just over 5 years left to reach by lifetime limit (even though I am still hoping that the lifetime limit will be revised). This is my TFSA journey so far: My TFSA: Road to 500k Financial Year ending Annual Contribution Cumulative Contribution Dividend Income Portfolio Value Portfolio Growth Percentage growth 2016 R30,000 R30,000 R0 ...