MInor - tax liabilities

Mike says:
7 March 2016 at 14:35

If I need to register my child (minor) for tax due to interest and or CGT earned from their investment - do I register them as a provisional tax payer or as an individual tax payer? If my child earns less than R 75,000 through interest/CGT do I still need to register them for tax even though they have no tax liability?

The pricing on your website for individual tax - would assume that this is per tax submission?

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

TaxTim TaxTim says:
8 March 2016 at 10:31

If earnings are below R75,000 (tax threshold) then no need to register as a provisional taxpayer or submit a tax return for your child.

The pricing is per tax return submission, correct.

Mike says:
8 March 2016 at 11:03

Many thanks - greatly appreciated!

Mike says:
8 March 2016 at 12:14

As a matter of interest: is the tax threshold of R 75,000 determined after the abatement of R 23,800 (interest) and CGT R 40,000?

many thanks!

TaxTim TaxTim says:
8 March 2016 at 12:56

Yes, correct - you first apply the exemption and then only taxable portion counts towards the R75,000 threshold.

Mike says:
8 March 2016 at 13:12

Much appreciated - thank you.

TaxTim TaxTim says:
8 March 2016 at 13:29

Only a pleasure!

Submit your tax return right here!

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

Blog Categories

Ask TaxTim

Got a question you want answered about tax?

Visit our helpdesk →

Get Tax Deadlines in your Inbox
We'll tell you when you need to file, along with tax tips and updates.