SA tax changes encourage structured deposits

Structured deposits are becoming increasingly popular investments among South Africa’s retirees, in an environment in which tax-free allowances for interest-bearing investments have been increased several times. According to reports in the local press, capital-protected equity-linked deposits are proving particularly popular. Many such products have a minimum return and a cap.Tax-exempt interest income was increased to R15,000 (£1,300) for taxpayers under 65 years of age, and to R22,000 (£1,900)