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Tax implication for my child if I give her 500 000 .00?

Posted 25 January 2015

I want to give my child 500 000. 00what is the tax implication for my child?This is for a gift. Thank you kindly

TaxTim TaxTim says:
25 January 2015 at 21:41

There would be donations tax on the amount over R100 000 of 20% so effectively tax of R80 000 on the donation. Only R100 000 per year is tax free as a donation.

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