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Do continuous lump sum deposits from my parents get declared and taxed?

Posted 27 September 2013 under Tax Q&A


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I am currently working and earn R10 000 a month but my parents still send me R12 000 every 3 months in to my bank account which I then use to pay for college studies for the next 3 yrs. Does the 12 000 from parents get taxed as well?

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TaxTim TaxTim says:
29 September 2013 at 21:10

No it will not get taxed as it is an amount to support you and pay for your studies.


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235 DAYS
LEFT OF
TAX SEASON
2017


TaxTim will help you:

 Do Your Tax Return Easily
 Avoid penalties
 Maximise your refund

Tim uses your answers to complete your income tax return instantly and professionally, with everything filled in in the right place.

Let Tim submit your tax return direct to SARS in just a few clicks!

Get started