Tax guide
Tax-Free Savings Accounts (Section 12T)
A TFSA shelters growth. It does not reduce taxable income the way a retirement annuity does. Stay inside the contribution limits or SARS takes 40% of the excess.
Limits from 1 March 2026
Annual contributions: R46,000. Lifetime contributions: R500,000 across all your tax-free accounts. SARS announced the annual increase in Budget 2026.
What is exempt
Interest, dividends, and capital gains inside the account. Withdrawals are not included as income. Re-contributing a withdrawal uses the annual limit again.
What it is not
It is not section 11F. If you need a deduction, that is an approved retirement fund, capped at 27.5% / R430,000 for the 2027 year of assessment.
Disclaimer: This is general guidance based on the South African Income Tax Act and published SARS Interpretation Notes as at the 2026/2027 year of assessment (1 March 2026 – 28 February 2027). It is not professional tax advice. Deductibility depends on your facts. Confirm current figures on sars.gov.za before you file.
Related reading
Article
TFSA Limits 2026/2027 — R46,000 a Year, R500,000 Lifetime
Article
Two-Pot Withdrawal Tax — Marginal Rate, Not the Lump-Sum Table
Guide
Home Office Deduction
Guide
Travel Allowance
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Medical Tax Credits
Profession
Freelancer deductions
Profession
Software Developer deductions
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Accountant deductions
Find the TFSA contributions in your bank statements
Upload bank statements. Taxzi flags lines that may qualify under SARS rules. Mixed shops stay out until you say what they were. You confirm every claim. This is guidance — not a filed return.
Works with FNB, Standard Bank, Absa, Nedbank, Capitec, Investec and Discovery Bank PDF statements.
Check my statement for TFSA contributions (free)3 + 3 free estimates