Project your Tax-Free Savings Account growth. See how compound returns and tax-free investing can build your wealth.
See how your TFSA grows year by year with compound interest and monthly contributions up to the R36,000 annual limit
Track your R500,000 lifetime contribution limit and get warnings before you exceed it and trigger the 40% penalty
Calculate how much tax you save by investing in a TFSA versus a regular taxable investment account
Enter your contribution details to project TFSA growth
Enter your contribution details to see projected TFSA growth and tax savings
Key limits and rules for Tax-Free Savings Accounts in South Africa
Annual Contribution Limit
R 36 000,00 per tax year (1 March to end of February). Unused allowance cannot be carried over to the next year.
Lifetime Contribution Limit
R 500 000,00 total across all TFSA accounts. Withdrawals do not restore your lifetime limit.
Over-Contribution Penalty
40% penalty tax on any amount exceeding the annual or lifetime limit. This is deducted directly from your account.
Tax-Free Returns
All interest, dividends, and capital gains earned within the TFSA are completely exempt from tax. No need to declare on your tax return.
Withdrawals
You can withdraw from your TFSA at any time with no penalty. However, the withdrawn amount still counts towards your lifetime limit and cannot be re-contributed.
Common questions about Tax-Free Savings Accounts in South Africa
Explore our complete suite of financial calculators to help you make better business decisions
Calculate your monthly take-home pay after PAYE, UIF, and pension deductions using current SARS tax brackets.
Convert between monthly, annual, weekly, and hourly pay with configurable hours per week.
Convert your cost-to-company package to net take-home pay, showing all deductions and employer contributions.
Deepen your understanding with glossary definitions and free tools
Accounter does not provide accounting, tax, business or legal advice. This calculator has been provided for information purposes only. You should consult your own professional advisors for advice directly relating to your business.