Please can you confirm that all interest reflected on an IT3(b) will fall under code 4201 whether reflected as such, on the certificate, or not? For example, interest on medical savings, interest earned on an investment and as reflected under 4201, intere
Important:
This answer is based on tax law year ending 28 February 2017.
Answer:
You are correct, the total amount received (or accrued) in respect of interest with a source in the RSA must be inserted next to source code 4201. Any interest received from SARS must be declared separately in the field provided.
It is also accounted for on the accrual basis – see section 24J(3), unless section 24J(12) applies.