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TaxTim says: 29 November 2012 at 14:52 It would depend on the amount of financial aid they are providing, if it is under R100 000 from each person then there is no tax as this would be a donation. You do not pay tax on receiving donations and individuals can make donations up to R100 000 per tax year without having to pay Donations Tax. |
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Garth says: 29 November 2012 at 16:39 Dear Tim, Thank you for your prompt and precise response. We are so relieved to finally get a clear answer. You provide a great service. Thanks again, Garth |
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TaxTim says: 29 November 2012 at 21:31 Only a pleasure, very happy I could help and thanks for the compliments! |
