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FAQs ]
Personal finance
How do I invest in RSA Retail Savings Bonds?
Information on investing in RSA Retail Savings Bonds are available under Programmes and campaigns.
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Is it possible to purchase these RSA Retail Savings Bonds as a group or scheme?
No, these investments are specifically meant for individuals and
cannot be bought by group schemes, social clubs, companies or
any other juristic persons; only natural persons can purchase
them.
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Do I have to invest in Retail Savings Bonds only on a monthly basis?
No, depending on your financial situation you may either invest
once off or as often as you wish. Please note that each investment
when investing at different times, must be a minimum amount of
R1 000.00. Each investment will have its own maturity date and/or
interest rate.
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Is it possible to have a debit order go through my
account for a certain amount to invest in Retail Savings Bonds each month?
No, you need to apply each time before you invest in the Retail
Savings Bonds for reconciliation purposes. If you don't apply we will have money in our account and no application
with which to match it.
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If the investor pays for Retail Savings Bonds with a cheque at Pick ‘n Pay i.e.
to whom must the cheque be made out?
The cheque must be made payable to Pick ‘n Pay. The same
argument holds for the Post Office payments where the cheque
must be made out to the South African Post Office.
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Can my beneficiaries continue with the investments
in Retail Savings Bonds in case of my death?
No, in the event of death, the investment will be paid out to the
Estate or to the nominated beneficiary(s).
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What are the current tax exemptions when investing in Retail Savings Bonds?
For persons under the age of 65, the first R18 000.00 of interest
received during a tax year is regarded as tax-free.
For persons over the age of 65, the first R26 000.00 of interest
received during a tax year is regarded as tax-free.
These amounts are applicable from your interest earned for the tax
year 2007/08.
Please contact the helpline at 012 315 5888 for the latest scales.
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When can I have access to my money invested in Retail Savings Bonds?
Investors are discouraged from accessing their investment at any
time that they choose, as the National Treasury does not operate
like a bank, though withdrawals are permitted after 12 months of
investing, subject to a penalty fee.
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Can I sell my Retail Savings Bonds?
No, RSA Retail Savings Bonds are non-tradable securities.
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Can I use my RSA Retail Savings Bonds, or the interest
payment as security for a loan?
No, RSA Retail Savings Bonds are non-tradable securities thus
you cannot transfer your rights to any third party.
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What is the money used for that is invested in the
RSA Retail Savings Bonds?
As the investments will finance a part of the budget deficit the
funds will be used for education, security, building schools and
roads etc.
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If I purchase and register my under aged children for retail savings bonds, do they have to pay tax?
Not directly, as minors and non-income earners, children do not
pay tax.
For the latest update and more information about income tax for
individuals and donations tax, please contact your tax advisor or
the nearest South African Revenue Services Office.
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Last modified: 16 July 2008 15:53:47. |
