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Frame, says: 14 September 2015 at 13:22 When calculating the Rand value of foreign dividends to be included into taxable income under s1, what exchange rate must be used if the dividends accrued over a period of a year? If I received 83.69 pounds over the year of assessment, is the amount converted to Rands at the average exchange rate over the year or at the exchange rate present on the 28th of February? The Act doesn't provide any clarity on this. |
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TaxTim says: 14 September 2015 at 17:42 Do you receive these dividends into a South African bank account, or are they paid offshore? |
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Frame, says: 15 September 2015 at 0:23 Sorry I meant foreign interest and not foreign dividends. Into a South African Bank account. |
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TaxTim says: 15 September 2015 at 11:57 You should use the spot rate that was used on conversion when you received the funds. |
