How Much Tax Can You ACTUALLY Save Within A Tax Free Savings Account?

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Let’s face it, no one likes paying taxes, right? And no one likes SARS either, as SARS often feels like the big schoolyard bully that comes around every month to beat you up and steal your lunch money. So what if I tell you that there is a way that you can legally point the proverbial finger at SARS and save a ton of taxes just by following a simple strategy?

Entering a Tax-Free Savings Account. Although I’ve talked a lot about TFSAs on this channel in the past, in today’s video, we are going to hone in on how much taxes you can actually expect to save within a TFSA.

Not only is this important to know in order to motivate you to open a TFSA, but it is also crucial to understand how different investment strategies will play out in a TFSA over the long run in order to figure out which one will reign victorious over the others.

I am going to touch on a bunch of important investment principles in this video, especially when it comes to taxes, so do yourself a favour and watch till the end so that you can be empowered to decide which TFSA strategy will work best for you.

YouTube Chapters:

00:00 Introduction
01:27 What Is A Tax-Free Savings Account?
02:16 How Exactly You Save Taxes Inside A Tax-Free Savings Account
02:49 Capital Gains Tax
04:50 Interest Tax
06:36 Dividend Withholding Tax
08:43 How Much Taxes Can You Expect to Save Within A Tax-Free Savings Account?
09:42 Strategy 1
10:56 Strategy 2
11:54 Strategy 3
13:05 Strategy 4
14:28 So, What Is The Best Strategy Inside A TFSA?

Links Mentioned In This Video 👇

TFSA Tax Savings Calculator: https://mymoneytree.co.za/tfsa/

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My name is Dr. Pieter Marx de Villiers, and I'm a Veterinarian turned Financial Advisor from South Africa who aims to retire by the age of 35. Follow me in my journey towards Financial Freedom in (hopefully) just 10 years! :)

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DISCLAIMER

Whilst I am a Registered Financial Advisor under the FSCA as of June 2023, the content on this YouTube Channel and all of my other Social Media Platforms are for Educational Purposes only and should not be taken for Financial Advice. You and only you are responsible for your financial decisions and must therefore conduct your own research and seek the advice of a licensed Financial Advisor where necessary.

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