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FC says: 6 July 2015 at 15:53 Hi there, I get monthly support from my parents that is around R10,000 a month on top of my income. Do I have to declare this and is it taxable? Thank you. |
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TaxTim says: 6 July 2015 at 21:38 It is not taxable no, but if it is support money as you are not financially secure yourself then you will not need to declare this. How old are you? |
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FC says: 6 July 2015 at 22:43 I am 24? |
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TaxTim says: 7 July 2015 at 12:28 Assuming your parents assist you financially then there will not be any tax paid on this amount. |
