Calculate your TFSA growth with the R36,000 annual limit and R500,000 lifetime cap. See how much tax you save compared to taxable investments with this free calculator.
Calculate TFSA growth, tax savings & contribution limits
If you already have a TFSA, enter current value
Total you've contributed (not current value). Remaining room: R500,000
One-time deposit at start of year
Recommended: R3,000/month to max out R36,000 annual limit
Historical JSE returns: ~10% p.a. long-term
How many years will you contribute?
Your planned annual contribution (R36,000) exceeds the R36,000 annual limit. Adjusted to R36,000. Excess contributions attract 40% penalty tax!
No capital gains tax, dividends tax, or income tax on TFSA growth!
At current rate, you'll max out in 3.9 years (age 33)
Consider increasing to R3,000/month to fully utilize your R36,000 annual allowance.
A Tax-Free Savings Account (TFSA) is a government-approved investment account where all growth, interest, and dividends are 100% tax-free. It's the best way to grow your wealth without paying capital gains tax, dividends tax, or income tax.
Contribute up to R36K per tax year (Mar-Feb). No rollover of unused amounts.
Total contributions capped at R500K over your lifetime. Track carefully!
No CGT, dividends tax, or income tax on any returns. All growth is yours!
Withdraw anytime (unlike retirement annuity). But contribution room is lost forever!
Annual: R36,000 per tax year (1 Mar - 28 Feb)
Lifetime: R500,000 total contributions
Unused annual allowances do NOT roll over. Use it or lose it!
Penalty: 40% tax on excess contributions
Example: Contribute R40K = R4K excess × 40% = R1,600 penalty
SARS will bill you! Track contributions carefully.
Access: Withdraw anytime, no penalties
But: Contribution room is lost forever
Withdraw R50K → Only R450K lifetime room left (not R500K!)
Important: Unlike retirement annuities, you CAN withdraw from a TFSA anytime. However, once you withdraw, that contribution room is lost forever - it does NOT reset. Think of TFSA as a long-term wealth builder, not a savings account for short-term goals.
Pros: Easy to open, familiar interface. Cons: Higher fees, limited investment options.
Pros: Lower fees, better investment options. Cons: Slightly more setup required.
20s-30s (Growth)
100% equity ETFs (Satrix 40, S&P 500). Long time horizon = maximize tax-free growth.
40s-50s (Balanced)
70% equity, 30% bonds/property. Balance growth with stability as retirement approaches.
60+ (Conservative)
50% equity, 50% money market/bonds. Preserve capital while still benefiting from tax-free income.
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