National Treasury puts a freeze on tax free savings transfer

A year ago South Africa’s National Treasury approved tax free savings accounts which mushroomed into a new industry for banks, life insurance companies, collective investment scheme managers and others. The intention this year was to allow you to be able to transfer existing savings from one product provider to another during the life of a tax free savings account. On this MoneyMakers episode, Bruce Whitfield discusses the process, the hurdles and what implications the delay has for your tax free savings. Join Bruce and his guest, Chris Axelson, Director of Personal Income Taxes and Saving at National Treasury.

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