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How does having an investment policy help reduce my tax?

Posted 12 August 2013 under Tax Q&A


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With Old Mutual I have an investment. Can I claim this as a tax deduction?

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TaxTim TaxTim says:
13 August 2013 at 11:41

Unfortunately investments made do not offer a tax deduction. In fact, the interest earned and the dividends earned are subject to tax (i.e. you have to pay more tax) as they form part of your income.


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