Open­ing mul­ti­ple tax-free ac­counts

Weekend Argus (Saturday Edition) - - FRONT PAGE -

I have the fol­low­ing ques­tions about taxfree sav­ings ac­counts (TFSAs):

1. Can I open more than one tax-free ac­count with dif­fer­ent com­pa­nies with­out tax con­se­quences?

2. Which in­vest­ments are bet­ter for TFSAs in terms of fees and re­turns?

3. If I open a TFSA with Com­pany X, must I stay with that com­pany for the next 17 years (as­sum­ing I in­vest R30 000 a year un­til I reach the life­time limit of R500 000)? Or can I be with Com­pany X for, say, five years, Com­pany Y for three years and Com­pany Z un­til I reach my life­time con­tri­bu­tion limit? Name with­held

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