Tax

Tax-free savings account

Also called TFSA, Tax-free investment

A tax-free investment. From 1 March 2026 the annual limit in the tax file is R46 000 and the lifetime limit is R500 000.

Withdrawals do not restore contribution room. A contribution above the limit can attract a 40% penalty. It is not a UK ISA.

Reviewed 29 October 2026. This is a plain-language note, not an official definition and not personal advice.