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Help with overseas incoming money as cash gift

Posted 15 July 2014 under Tax Q&A


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I have just received two overseas payments as gifts from my boyfriend's family overseas. The first amount was under R4000 in June and the second was under R9000 now in July. The bank has told me SARS now has the right to look into it. This had made me nervous.

Do I have to now pay SARS money what is the process?

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

TaxTim TaxTim says:
15 July 2014 at 16:42

you will not have to pay tax on this amount, the bank is just informing you that SARS could require proof of where this comes from.


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 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.

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