Taxable Local Interest Calculator
Tax on Interest Calculator
See how much of your South African interest income is tax-free under the annual exemption, and the tax due on the rest.
How it works: South African interest up to the exemption is tax-free. Anything above it is added to your taxable income and taxed at your marginal rate. Interest inside a TFSA does not count towards the exemption.
Frequently asked questions
Does foreign interest qualify for the exemption?
No. The exemption only covers interest from a South African source.
Do I need to declare exempt interest?
Yes. Declare all interest on your return. SARS applies the exemption.