Max Your Tax-Free Savings & Perks Before the Tax Year-End

Max Your Tax-Free Savings & Perks Before the Tax Year-End
2:18
Published on: Jan 30, 2025 1:00:00 PM

With tax season wrapping up, now’s the time to make sure you’re squeezing every last benefit out of your TFSA and RA. Whether you’re looking to cut down on taxes, build wealth faster, or unlock extra perks with Thrive, these next few weeks are a golden opportunity.

Let’s get you sorted.


1. Max Out Your TFSA (Because Free Money is the Best Money) 
A Tax-Free Savings Account (TFSA) is a must-have if you want to grow your wealth without SARS taking a cut. That means no tax on interest, dividends, or capital gains...EVER.

The lifetime cap sits at R500,000, so every rand you stash now keeps your long-term strategy on track.

🎁 Bonus: Score Thrive Rewards Just for Being Smart with Your Money!

Being a smart investor should come with perks, right? That’s why Thrive is rewarding you for making the right moves. Max out your TFSA and you'll get Thrive level 3 for the remainder of the financial year. This February, contribute any amount to your RA or  TFSA, and you’ll also get 3 thrive levels!

Haven't heard of Thrive? It rewards you for:
✔️ Donate for good
✔️ Watching financial education videos on EasyAcademy
✔️ Using  EasyFX to invest in US stocks
✔️ Purchase an EasyAI Basket
and so much more!

The higher your Thrive level, the more discounted brokerage you get on Thrive stocks. If you want to learn more about Thrive, click here.

2. Boost your Retirement Fund
Got a provident fund, or retirement annuity (RA)? Great! Now’s your chance to max out your tax-deductible contributions before February 2025. You can contribute up to 27.5% of your taxable income (capped at R350,000 per year) and lower your tax bill in the process.

Even if you’re already putting money into a workplace pension, you can still boost your retirement savings with an RA, especially if you’re self-employed or a freelancer.

If you haven’t maxed out your contributions yet, grab your calculator and make those last-minute deposits count!

 It's the Final Countdown
The tax year-end deadline is just around the corner. Whether it’s topping up your RA or maxing out your TFSA, these are easy money moves that your future self will be so grateful for.

So, what’s your next move?


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Any opinions, news, research, reports, analyses, prices, or other information contained within this research is provided by an external contributor as general market commentary and does not constitute investment advice for the purposes of the Financial Advisory and Intermediary Services Act, 2002. First World Trader (Pty) Ltd t/a EasyEquities (“EasyEquities”) does not warrant the correctness, accuracy, timeliness, reliability or completeness of any information (i) contained within this research and (ii) received from third party data providers. You must rely solely upon your own judgment in all aspects of your investment and/or trading decisions and all investments and/or trades are made at your own risk. EasyEquities (including any of their employees) will not accept any liability for any direct or indirect loss or damage, including without limitation, any loss of profit, which may arise directly or indirectly from use of or reliance on the market commentary. The content contained within is subject to change at any time without notice.

 

Any opinions, news, research, reports, analyses, prices, or other information contained within this research is provided by an employee of EasyEquities an authorised FSP (FSP no 22588) as general market commentary and does not constitute investment advice for the purposes of the Financial Advisory and Intermediary Services Act, 2002. First World Trader (Pty) Ltd t/a EasyEquities (“EasyEquities”) does not warrant the correctness, accuracy, timeliness, reliability or completeness of any information (i) contained within this research and (ii) received from third party data providers. You must rely solely upon your own judgment in all aspects of your investment and/or trading decisions and all investments and/or trades are made at your own risk. EasyEquities (including any of their employees) will not accept any liability for any direct or indirect loss or damage, including without limitation, any loss of profit, which may arise directly or indirectly from use of or reliance on the market commentary. The content contained within is subject to change at any time without notice.

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