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Invest your lumpsum tax-efficiently
Some of the ways you can save tax when investing large amounts.
Partner with us and we will help you protect your lump sum from inflation.
A lumpsum can be tempting to use instantly, especially when we don’t plan before receiving the money. At Nedbank Private Wealth we are committed to ensuring specific plans are in place to protect and save your large amounts of money by investing tax-efficiently.
Our providing you with consolidated wealth solutions is centred around ensuring that you have specific financial services support that caters to your individual needs. This is achieved through our expert advisers who build relationships with you, ensuring that you have access to solutions that speak to your financial needs and realities.
When investing a lump sum, it is important to consider inflation and tax implications.
Rising inflation has been a constant global concern since the outbreak of Covid-19. Nevertheless, we have been working hard to ensure that it does not limit or cripple your investing activities. Tax-efficient investing is a crucial part of protecting your lump sum from inflation.
To remedy rising inflation, we have tax-free savings options.
A tax-free account enables you to save up to R36,000 a year and R500,000 over your lifetime, and included the following benefits:
- You will not pay any capital gains tax on the growth of the investment or dividend withholding tax on dividends received, and no income tax on interest earned.
- You will pay lower fees (flat brokerage fee of 0,25% and no administration fees).
- You will be invested in the approved JSE-listed exchange-traded funds (ETFs). ETFs offer a convenient and cost-effective way to diversify a portfolio into a wide range of asset classes, with both local and offshore exposure.
- Access to the world-class Online Share Trading platform.
- Reinvesting profits, dividends, and interest into the account without it counting towards your annual or lifetime limits.
- Earning interest at the JSE Trustees rate on cash balances held in the account between investments.
Contributing your lump sum towards your retirement can also help you save tax.
If you have a flexible retirement plan, you can invest your lump sum as an add-on to it and enjoy the following benefits:
- Reduced tax.
- No tax within the fund itself.
- Exclusion from estate duty.
- Further reduction of tax after retirement.
- You can claim from your retirement annuity every month (usually applicable to business people) or at the end of every tax-year.
For more information on how you can plan for or invest your lump sum tax-efficiently, please contact your financial adviser.
Want to know more?
- Contact your wealth banker.
- If you’re not a client yet and want to find out more about how we can help you, we would love to hear from you. Call us on 0800 111 263 or complete an online contact form.
- To find out more about our investment offering, click here.
Read our disclaimer here.
