Dividends, Interest and Capital Gains will be added to your income in different ways and taxed accordingly. Please make use of our Tax refund calculator to get an indicator of your tax.
Joesays: 30 June 2015 at 15:57
Ok say I for instance pay R100 000 invested for 6 months and receive 6% per month for 6 months interest - what would be the tax on the R36000 interest received?
TaxTimsays: 30 June 2015 at 15:58
The first R23 800 of interest is tax free for taxpayers under 65 years and R34 500 for those over 65 years. Thereafter the difference is added to your income and taxed at your marginal rate according to what bracket of income you fit.
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