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Debit interest

Posted 8 July 2017 under Tax Q&A

Millicent says:
8 July 2017 at 14:08

I receive an IT3(b) Certificate from FNB but there's no credit interest earned only debit interest paid.
Does that get included on the tax return?

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TaxTim TaxTim says:
8 July 2017 at 15:21

Debit interest is not included as this is regarded as interest paid on debt and not interest earned on income you had.




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