South Africa: South Africa: Increase in the 'official interest rate' effective December 2022

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• South Africa: Official rate of interest

  The South African Reserve Bank's (SARB) Monetary Policy Committee (MPC) has announced an increase in the repurchase rate by 75 basis points. The increase means the repo rate would be 6.25% per year as of 23 September 2022. The “official rate of ...

• South Africa | Decrease in the Official Rate of Interest Effective December 2024

  According to paragraphs 2(f) and 11 of the Seventh Schedule to the Income Tax Act, when an employee incurs debt to their employer and either no interest is charged or the interest rate is below the official rate of interest, the difference between ...

• South Africa: Official rate of interest (low interest loans)

  The South African Reserve Bank's (SARB) Monetary Policy Committee (MPC) has announced an increase in the repurchase rate by 75 basis points. The increase means the repo rate would be 5.50% per year as from the 22 July 2022. The “official rate of ...

• South Africa: Increase in the 'official rate of interest' effective April 2023

  The 'official rate of interest' is used to calculate the 'interest-free or low-interest fringe benefit'. The official rate of interest is defined in section 1 of the Income Tax Act as the repurchase rate (repo rate) plus 100 basis points (1%). A new ...

• South Africa: Increase in the 'official rate of interest' effective June 2023

  The 'official rate of interest' is used to calculate the 'interest-free or low-interest fringe benefit'. The official rate of interest is defined in section 1 of the Income Tax Act as the repurchase rate (repo rate) plus 100 basis points (1%). A new ...