The first R2 000 of interest received by an individual taxpayer other than a trust is exempt from tax. All interest accruing to persons not ordinarily resident in South Africa or to companies not managed or controlled in South Africa is exempt from tax. To qualify as a person not ordinarily resident, an individual must be absent from South Africa for not less than 183 days during the year of assessment.

For further information please contact: 

Werksmans Attorneys 

Werksmans Chambers, 22 Girton Road, Parktown, Johannesburg 2193 
P.O. Box 927, Johannesburg 2000 South Africa

Enquiries:        Mr Charles Butler
Telephone         27 (011) 488-0000
Telefax           27 (011) 484-3100/3200
E-Mail Address