Switch to TaxTim and WIN R10,000  T&C's apply
How do you currently do your tax?
SARS eFiling Tax Practitioner Auto-assessment New to tax

Taxable Local Interest Calculator

Work out the amount of local interest which is taxable on your income tax assessment

TAXABLE LOCAL INTEREST
Total local interest received for the tax year? R
You are:
NOTE:

You need to declare your total local interest in the Investment Income section of your tax return. This calculator is to assist you on calculating the amount of interest that will reflect as taxable on your income tax assessment.

Individual taxpayers enjoy an annual exemption on all South African interest income they earn, set by SARS every year. This interest exemption has remained unchanged for a number of years and for the 2023 tax year is set at R23 800 for individuals under 65 years old, and R34 500 for individuals 65 years and older. South African retail savings Bonds and any interest from the money in your Medical Savings Account (of your medical aid) can also be taxed.





Do your Tax Return in 20 minutes or less!

TaxTim will help you:

 Do Your Tax Return Easily
 Avoid penalties
 Maximise your refund

Tim uses your answers to complete your income tax return instantly and professionally, with everything filled in in the right place.

Let Tim submit your tax return direct to SARS in just a few clicks!

Get started