5 April 2013 at 10:28
As a 65 year old you will entitled to your first R104 611 of taxable income to be tax free and a further R34 500 of interest.
So for example if your R1 000 000 attracts 10% p.a then the first R34 500 of the R100 000 interest will be tax free and the remaining R65 500 as it is below the tax threshold.
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