OPN Tax Free Investment Account
The OPN Tax Free Investment Account is a long-term investment vehicle which allows you to contribute a maximum allowed amount per tax year and over your lifetime without being charged capital gains tax (CGT) when accessing these savings or switching underlying unit trusts, dividend tax when receiving dividends or income tax on interest earned on these contributions.
All proceeds are tax free. It provides the opportunity for you to structure a customised investment portfolio, tailored to your individual requirements. Construct your personalised portfolio by investing directly in a premium selection of domestic unit trusts.
You can choose to invest a lump sum or recurring monthly contributions, change or cease your contributions without incurring penalties and choose your own investment period.
FEATURES AND BENEFITS
Lump sum: R2 000
Recurring: R500 per month*
Ad hoc: R1 000
*The minimum recurring debit order amount if you are under the age of 30 is R200 per month, which should be escalated to the normal minimum of R500 per month after your
The maximum capital contribution per tax year is R33 000. The maximum lifetime contribution is R500 000.
Any contributions over these limits will be taxed by the
South African Revenue Services (SARS) at 40% of the excess
contribution value. Growth and the reinvestment of interest and dividends in the
OPN Tax Free Investment Account do not count towards the
contribution limits. Annual and lifetime contribution limits are capped and
withdrawals from your OPN Tax Free Investment Account cannot be replenished.
The limits apply with regards to total contributions across all
product providers and not on a per-product-provider basis. We will monitor your contributions to your OPN Tax Free
Investment Account to ensure that you stay within the legislated limits. We are however not responsible for any
contributions placed with another product provider.
You have access to a selection of our multi-managed PPS Portfolios and a selection of single manager unit trusts. Please consult the Select fund range investment option schedule available for the OPN Tax Free Investment Account. These unit trusts may not have a performance fee structure or invest in any vehicles or funds that charge a performance fee.
Tax in product
No tax is payable on interest, dividends or realised capital gains or losses incurred in your investment.
Tax on excess contributions
If you exceed your annual contribution limit of R33 000 on your lifetime contribution limit of R500 000 (as stipulated in the Income Tax Act) this will lead to a penalty of 40% on the excess contribution amounts. This penalty will be imposed by the South African Revenue Services (SARS) at the end of the tax year.
Tax at death
All interest and dividends earned during the calculation of the estate will be tax free.
You have unrestricted access to the savings within your OPN Tax Free Investment Account and can make full or partial withdrawals from the investment. However, annual and lifetime contribution limits are capped and withdrawals cannot be replenished.
FORMS AND DOCUMENTS
PPS FundsSelect the option suitable to youWe build diversified funds across managers and strategies to achieve consistent performance over time. Our experienced investment team manages the asset allocation and manager combination of each solution. You just need to select the appropriate multi-managed fund. View our PPS Funds>>
Other Funds You select from managers on our platformYou choose the appropriate combination of funds from our pre-approved list to construct the solution you want. Our online functionality allows you to manage your overall asset allocation and change the combination of funds at any time.View our Single Manager Funds >
Depending on your preference, there are a few ways you are able to invest with us.
Invest via an adviser We always recommend seeking the advice of an experienced and qualified financial adviser to help you set financial goals, save sufficiently for these goals and stick to your investment plans. Should wish to find a PPS Investments accredited adviser, leave your details here and someone will contact you shortly.
Invest via an adviser
Invest NowWith the InvestNow functionality, you're able to place new investments, top up existing investments, switch or make withdrawals. And in-app notifications keep you updated on the progress of your transactions. A nifty retirement calculator and access to key documents like tax certificates are added benefits. Click here to use this functionality.
Printing and completing an application form You're also welcome to print and complete an application form and send it to our Validations Team at firstname.lastname@example.org. For any further support, contact our dedicated client service teams are available between 8:00 and 17:00, Mondays to Fridays at 0860 468 777 or email@example.com to assist you with your transaction.