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Children receiving gift money

Posted 20 March 2017

Bella says:
19 March 2017 at 19:40

My brothers wish to gift my children money. Which I will be using on daily expenses and school fees. Will I be liable for tax for these incomes? Or will my brothers be liable for this? Is there a taxable limit? And are there any tax avoiding measures for single moms?

TaxTim TaxTim says:
20 March 2017 at 8:32

Each of your brothers are limited to donating an amount of R100000.00 per tax year to your children and they will have to declare their donations on their tax returns and your children wont be tax liable on it.

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