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Calls to change R500,000 tax-free limit in South Africa | SA News

Luke Fraser
 ·18 Feb 2026

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Old Mutual has called on Finance Minister Enoch Godongwana to increase the contribution cap for tax-free savings investment accounts to at least R600,000, and bump the annual limit to R40,000.

Introduced in March 2015, tax-free investment accounts allow South Africans to save a maximum of R36,000 per year, with all interest, capital gains, and dividends not being taxed.

The aim of the tax-free accounts was to encourage South Africans to save, given the nation’s…

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