Tax-Free Investment Account (TFIA)

Tax-Free Investment Account (TFIA)A simple, tax-efficient way to grow your wealth over time by investing in Johannesburg Stock Exchange (JSE)-listed Exchange Traded Funds (ETFs). Whether you’re starting your investment journey or building long-term wealth, a Tax-Free Investment Account (TFIA) can help you invest smarter by reducing the impact of tax on your returns.

Benefits

Grow your investments tax-freeAny returns earned in your TFIA are free from tax, including: Interest, Dividends, Capital gains.

Invest in diversified ETFsGain exposure to a wide range of JSE-listed companies through Exchange Traded Funds (ETFs).

Instant funding and withdrawalsEasily fund your account and access your money when needed through the Shyft platform.

Earn interest while you wait to investMoney held in your Shyft ZAR Vault can earn daily interest before you invest it into the market.

Key tax benefitsNo Capital Gains Tax (CGT) on investment growth. No Dividend Withholding Tax (DWT) on dividends earned. No Tax on interest earned. No Securities Transfer Tax (STT) on qualifying investments.

How do I transfer my Tax-Free to Shyft?Get in touch with the Shyft team by emailing SBGShareTransfer@standardbank.co.za to let us know you'd like to transfer your TFIA to Shyft. We will send you a transfer form and prepare the transfer request. We will liaise with your current provider to arrange the transfer of your cash, investments or both at no charge to you.

Typical usesLong-term wealth building in a tax-efficient way. Saving for retirement (as a supplement to other investments), and Education or future goals. Building a diversified investment portfolio without tax drag. Best suited for Investors with a long-term horizon (5+ years) and those looking to maximise after-tax returns.

Key risks and considerationsExceeding limits may result in tax penalties. Returns depend on the performance of underlying investments (e.g. ETFs or funds). No tax deduction on contributions: contributions are made from after-tax income. Withdrawals reduce the value of your investment and cannot be replaced within the lifetime limit.

Frequently asked questions

Who can open a Tax-Free on Shyft?

Any South African tax resident with a valid South African ID and a qualifying Shyft profile may open a TFIA, subject to the applicable requirements.

Why should I consider a Tax-Free Investment Account (TFIA)?

A TFIA can help you build long-term wealth more efficiently, as returns earned within the account are not subject to tax.

Where and how do I register?

There are three ways you can register for Shyft, all of which can be done via your mobile device, PC, or laptop—meaning you can register from anywhere, as long as you have a stable internet connection!

If mobile banking is your preference, you can download the Shyft app onto your mobile device and register from there.

If you prefer a larger format, then registering via the Shyft website using your PC or laptop may be the ideal choice for you.

For those who hold an active Standard Bank account and already has the Standard Bank app installed on their mobile device, you may find registering for Shyft using the Shyft add-on tile within the Standard Bank app to be the most convenient route.

Get the Shyft app today!

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The legal stuff

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