Capital Gains Tax vs Donations Tax

Posted 16 May 2016

Provide a reason why there will be no Capital Gains Tax consequences on the receipt of R50 000 as a donation be.

Estate duty and tax on a property held within a company

Posted 9 May 2016

What taxes are due on a property owned by an individual when the person dies?
What taxes are due on a property owned by a company when a shareholder dies?

Donation to a pbo

Posted 9 May 2016

Where do I find the public benefit organisation's donation certificate registration number? I do not have such a document.

Tax on a donation between brothers

Posted 3 May 2016

My brother owns half of a property and myself the other half. My brother lives in Australia, and want to donate his part of the property to me, as he is a citizen in Australia now. Must he declare the donation to Australian revenue service or by SARS?
Will SARS charge me donation tax or how will it work?

PAYE on a salary below the tax treshold

Posted 26 April 2016

I am currently working at an NPO and earning R 6000 per month. Currently the organisation is taxing me R300 per month (although this often fluctuates randomly). There are no further deductions, apart from UIF. As far as I am concerned, and according to all research I have done, I am not meant to even be paying tax on this amount. Could you please clarify if this is correct, and if not, who can I approach with regards to this money that seems to be going missing?
Thank you in advance.

Foreign Gift to SA Citizen / Donation

Posted 13 April 2016

I am a South Africa citizen and would like to receive a monetary gift from my sister who is a UK citizen only - is there any tax implication for me?

Financial assistance to a relative / Donation

Posted 12 April 2016

Is there a tax benefit when assisting a relative financially?

Foreign donation

Posted 8 April 2016

You previously answered my question relating to receiving a donation from my brother who lives overseas - I understand that if the money comes from a foreign source that I would not be liable for tax. Further to this I would like to ask: is there a limit to how much receives as a donation before one is liable for tax or can one receive any amount as a donation?

Please clarify if I can get a tax directive and how they work

Posted 4 April 2016

My estimated gross income R670 114. 00
My estimated expenditure R306 081. 00
Estimated taxable income R364 033. 00
Please show me the calculations to get a tax directive of 20%

What are the SARS obligations and benefits for a taxpayer aged 74 years for the 2015/2016 tax year?

Posted 29 March 2016

With regards to your post of 23 July 2012, about retirees aged 65 years and older: have there been any changes since then in SARS requirements for tax returns for the 2015/2016 tax year, or not? What benefits can such a taxpayer expect? What is the taxable threshold for a taxpayer 74 years of age (turning 75 in June 2016)? Where do donations fit into all of this?
1. Main source for living expenses is interest income. 2. Medical aid premium is paid by the retiree in full, in addition to medical expenses which go beyond medical aid benefits. ...

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Tax on donations

Posted 24 March 2016

My father has sold his house at a discounted price to my eldest sister and some of the proceeds of the sale will be split between the remaining siblings. What are the tax implications for my father and is there any way to minimize the taxes which will be levied on him?

Estates Tax Liability on Dealth of Spouse

Posted 22 March 2016

My wife and I hold assets in terms of cash at bank and a single main residence. All assets are held in joint names. Should one spouse die can the assets be transferred to the surviving spouse without an estates tax liability. Alternatively is the liability calculated as 20% of the remainder of (50% of the combined assets - 3. 5M Rand tax exemption )

Tax payable on gift from family abroad

Posted 18 March 2016

What are the tax outcome to inherit R500,000. 00 from family abroad and tax outcome if I receive it as a gift?

Receiving funds from abroad - tax implications?

Posted 8 March 2016

What is the tax implications of receiving funds from abroad as a genuine gift? Is there a cut off amount, before SARS considers it to be a proper income, of which I would need to pay tax?

Foreign income

Posted 8 March 2016

I am resident in SA for tax purposes I am working in Mozambique and paying 20% tax for non residents. I will be out SA in excess of 183 days. Is this income exempt and will I be able to claim any of the tax paid.

What deductions are allowable against the proceeds for CGT calculation?

Posted 6 March 2016

I need to use the 20% of proceeds method to do my CGT calculation. What are the allowable deductions that I can deduct from the proceeds?

Method of donating money that results in lowest tax

Posted 3 March 2016

I want to give a family member one million rand as a gift. What is the best way to do that so that she pays the least amount of tax on this amount?

Can a spouse buy the other spouse houses

Posted 1 March 2016

Can a spouse buy the other spouse houses without paying donation tax? Are there any rules to this?

Sport PBO NPC, how do I populate IT12EI form?

Posted 28 February 2016

We are a year-old sport PBO, and haven't earned any funding between March 2015-February 2016; how do I populate the IT12EI form with info and source code?

TT

Do I need to declare gift?

Posted 25 February 2016

I received (from a family friend in South Africa about R120 000 as a gift over a period of a year to help me pay back a loan. I had not been working for a few years so did not submit tax returns. Did I have to declare the amount to the receiver?

Company car versus personal car and travel allowance

Posted 23 February 2016

A client of mine is the sole shareholder and employee of his company. He does a lot of car travel for his work.
What is the most beneficial method in terms of tax:
to buy a car in his own name, or to buy one in the company name and use it for business and personal (will be small personal use)?

Is there donation tax payable on a gift?

Posted 23 February 2016

I am selling local property and want to send my two non resident daughters R100 000 each as a gift. Does donation tax come into the picture?

is a marriage by muslim rites included in the definition of a spouse regarding donations tax?

Posted 23 February 2016

What should I select for marital status when filing tax return, religious marriage (married by muslim rites) usually muslim marriages are ANC however we have not yet registered our marriage?
Will my husband be expected to pay donations tax on cash he transferred to me for safe keeping? For tax purposes are we considered to fall within the definition of spouse and as such not be liable for donations tax?

Example: Husband transfer R500 000. 00 of his savings to wife married in accordance with muslim rites, wife invests the money with a Bank and earns interest on it...

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Lawn mower purchase

Posted 23 February 2016

We are a NPO and want to know if we can write off an lawn mower bought for cash second hand for R9000. 00

Donations tax to my sister

Posted 23 February 2016

Hi Tim I recently bought my sister a car to the value of R150k, do I pay 20% donation tax on the full amount?
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