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Financial assistance to a relative / Donation

Posted 12 April 2016

Thelma said:
11 April 2016 at 20:34

Is there a tax benefit when assisting a relative financially?

TaxTim Alicia TaxTim Alicia said:
12 April 2016 at 9:39

Unfortunately not - this would be seen as a "donation" and may potentially attract donations tax for you if the assistance is greater than R100,000 per year. Please read our blog on Donations Tax for further clarification.

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