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Which Source Code must I use, when I take out a loan from either a bank or a policy?

Posted 24 June 2014 under Tax Q&A


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If I take a loan either from a bank or from my policy which source code should I put on the tax return & where (under which heading? Income Received/Other Income)?Where can I find the document with the Source code relating to the above question? I downloaded the source codes booklet from SARS but there is no explanation on it for loans.

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TaxTim TaxTim says:
24 June 2014 at 21:49

You do not include loans on your tax return as these are not considered income.

Soucecode777 says:
25 June 2014 at 19:26

Okay! Thank you very much. I see where I went wrong.

TaxTim TaxTim says:
26 June 2014 at 7:22

Only a pleasure!


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