There was a time when we were all certain of a year-end bonus, if only in the form of a 13th cheque. Admittedly, in some instances this was ‘self-funded’ by making a monthly contribution, but the result was the same, an additional amount at the end of the year. However, as with employment for l.
With the repo rating having more than doubled in less than 2 years, the amount you can hold in an interest-yielding bank or money market account before being subject to income tax at your marginal tax rate has reduced materially. Paul Hutchinson, Sales Manager at Ninety One, considers alternati.
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With almost eight years of data now available, it is possible to analyse whether investors and advisors are taking full advantage of TFSAs. Despite the tax-free advantages of TFSAs for long-term savings, investors are making simple mistakes that can impact the material benefits they offer, says.