Apply the R23,800 (under 65) or R34,500 (65+) interest exemption and see the extra tax on what remains.
Du Preez Tax & Bookkeeping Services · SAIT-registered practitioner
Interest income
01
Other taxable income
02
Taxable interest
Result
Local interest incomeR 0.00
Less: annual exemptionR 0.00
Taxable interestR 0.00
Estimated extra tax
Result
Extra tax from this interest
R 0.00
at your marginal rate
Please note: applies to local (South African-source) interest only. Foreign interest has no exempt portion. Interest inside a Tax-Free Savings Account is separately tax-free and doesn't use up this exemption.