Tax on 5 Year Bond

Hi I have a 5 year bond where interest is calculated daily and added to the bond each year on the anniversary of the date that the account was opened. Withdrawals are not permitted. Is interest therefore taxable in the year the bond matures i.e. all the interest added over the 5 year period is taxable in year 5? Thanks

Hi JAAN,
Yes, the interest is taxed in the year that it is made available to the you. 
Thank you.