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Do I need to pay tax on monetary gift amounts that I have received?

Posted 11 January 2016 under Tax Q&A


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Mary says:
11 January 2016 at 2:00

If I receive a monetary amount as a gift e.g.
A birthday gift, do I need to declare it and is it taxable?
I'm not referring to R500 - more like R5000.

This entry was posted in Tax Q&A Bookmark the permalink.

TaxTim TaxTim says:
11 January 2016 at 9:08

No this is not taxable nor do you need to declare it.


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