When do I declare interest income?

By Alicia Human · Updated

Johnwr

Johnwr said:
3 February 2017 at 9:57

I earn interest on my medical aid savings, do I declare it to SARS the day I leave the medical aid or at the end of the year I earned it?
TaxTim Alicia

TaxTim Alicia said:
3 February 2017 at 12:11

Yes you are required to declare the interest to SARS in the year you earned it and not as a lump sum when you resign from the medical aid..