37 / 92
TAX FREE SAVINGS
A BONUS FOR FARMERS
Good news for reluctant savers! Government has just
introduced new tax-free savings legislation to give South
Africans an extra incentive to save. We take a look at
how Old Mutual has pulled these benefits together in the
new
Old Mutual Invest Tax Free Plan
and how it
benefits farmers.
Launched on 1 March, the plan allows tax-free
growth with flexible contributions and full access to the
savings without penalties which has important long-term
implications for the farming fraternity and for food-security.
It helps breadwinners to build up enough capital
to maintain their lifestyle post retirement and to
supplement their retirement capital without dependence on
income from the farm.
Key Features of the Tax Free Plan
from Old Mutual:
• All growth on your plan is tax free
• The fees and charges are transparent
• You have full access to your savings – from day one – with no penalties.
• You have the flexibility to increase, decrease or stop regular investments
any time – with no penalties.
• You choose how you want to invest – with lump sums, regular
investments or a combination.
• The choice of a range of underlying investment funds to meet
your unique investment strategies
• You can switch funds as many times as you like - at no cost.
• There is no fixed term – you choose how long and how often to invest
but the longer your money is invested, the more you will benefit.
• And, you can get up to half your admin fees back if you invest your
maximum annual allowance of R30 000 with Old Mutual.
What else you need to know:
•
If you opt to make regular investments, the minimum is
R350 per month
.
•
You can invest a maximum of
R30 000
per tax year, and
R500 000
over your lifetime in each tax-free plan.
•
You can open a tax free plan for each of your children.
Visit taxfreesignup.co.za and open your account online in just a few minutes. Call 0860 347 328 or
speak to your Old Mutual financial adviser or your broker today – It’s that easy to do great things.
Buy Online
Old Mutual is a Licensed Financial Services Provider