What is the difference between withdrawing and switching your money?

You can put up to R36,000 each tax year, and R500,000 over your lifetime, into tax free investments.

  • If you first withdraw from a tax free investment and then invest it in another, the money will count toward your annual and lifetime limit.
  • If you switch from one tax-free investment to another, and both investments are through 22seven, the money will not count toward your annual or lifetime limit.
  • And so if your intention is to reinvest the money in a different Tax Free investment through 22seven, you should Switch rather than Withdraw.

💡 Find out more about switching, withdrawing or chat to one of the Svens.

Was this article helpful?
8 out of 8 found this helpful