J
Joeyire
Guest
Hi,
Like many people, I chose an investment type SSIA product. Of course, after the 5 year period elapsed, I was taxed on the profit earned on the SSIA. But is ther reverse also true? .......i.e. I kept the investment fund going after 'maturity' of the SSIA, and continued to make monthly savings contributions. 18 months later, it has lost value from the date of maturity when interest was paid. If I now 'sell' the investment fund at a loss, can I offset the amount lost against income tax paid as part of my PAYE contribution?
Like many people, I chose an investment type SSIA product. Of course, after the 5 year period elapsed, I was taxed on the profit earned on the SSIA. But is ther reverse also true? .......i.e. I kept the investment fund going after 'maturity' of the SSIA, and continued to make monthly savings contributions. 18 months later, it has lost value from the date of maturity when interest was paid. If I now 'sell' the investment fund at a loss, can I offset the amount lost against income tax paid as part of my PAYE contribution?