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Is interest income taxable?

Posted 25 February 2016

Jad says:
25 February 2016 at 10:49

I have a money market account. Is the interest taxable?

TaxTim says:
25 February 2016 at 12:39

You would deduct R23 800 or R34 500 depending on whether you are under 65 years or over 65 years of age.

This entry was posted in Tax Q&A and tagged Salary / IRP5, Deductions, Rental Income, Retirement, Penalties. Bookmark the permalink.

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Is interest income taxable?

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