Silke RA and Tax Free Investment, February 2016 deadlines

Investors have less than two weeks left to invest in a retirement annuity (RA) or top up an existing RA in order for their contributions to be recognised for the 2016 tax year. RA contributions must reflect in the institution's bank account on or before 14:00 on 29 February 2016 in order to qualify. Completed addition or application forms also need to reach us before this date.

Watch a 31sec video explaining what a retirement annuity is:

You get tax benefits
Your contributions to an RA are tax deductible and the returns you earn while invested are tax free.

You only need R500 a month
You decide how much to invest – at least R500 a month or a single lump sum of R20 000. If you don’t want to make a monthly investment. You can make changes whenever you need to, no transaction fees and no penalties.

Your investment is safeguarded
The restrictions in an RA aim to ensure your money is kept for your retirement and that it is protected from potential creditors.

Silke Tax-Free Investment

Please send us your tax-free investment instructions before 14:00 on Friday 26 February 2016. Please note that the maximum amount your clients can invest per tax year is R30 000. This limit applies across all tax-free savings and tax-free investment accounts that you may own. Please note SARS will levy a 40% penalty on any excess investments. The deadline to invest in the 2015/2016 tax year is 14:00 on Friday, 26 February 2016. If you would like to invest in the Silke Tax-Free Investment before the end of the tax year, please contact us before the deadline. Please note that EFTs will not be allowed - to ensure that you do not exceed the contribution limits in your Tax-Free Investment, money will be collected from your bank account via a direct debit.

Our Integrated Wealthcare Approach is based on your personal priorities and aspirations. This process is designed to give you a clear course of action for pursuing your goals that span various time horizons and life stages to empower you to do extraordinary things with your wealth, both now and in the future.

Regards,

Shane Thom, CFP® GTP(SA)™
Managing Partner: Integrated Wealthcare