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SARS refunds and monetary gifts

Posted 24 September 2015 under Tax Q&A


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Lorelei says:
24 September 2015 at 9:08

Do monetary gifts and my SARS tax refund count as income received?

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

TaxTim TaxTim says:
24 September 2015 at 9:59

You should declare on your Tax Return that you received a donation under the "Amounts not considered taxable" section.

Please note, the donor will be liable for donations tax if he/she is a SA tax resident and donated more than R100,000 in the year of assessment (donations tax of 20% will be levied on amount greater than R100,000).

Your tax refund does not count as income received.


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