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Tax implications on money transferred to my account.

Posted 2 December 2014 under Tax Q&A


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My brother and his son has sold a flat in Durban.
My brother lives in the UK and is married to a UK citizen.
He wants to transfer his portion of the money to my account, as a small portion will have to stay in SA to assist my sister after the passing of his wife.
I will have to transfer the remaining to his account in UK.
The amount will be less than R500 000.

What are the tax implications for me?
Do you have any advise for me?

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

TaxTim TaxTim says:
9 December 2014 at 8:44

If you are just transferring his money and none of it actually accrues to you then you will not be subject to any tax.


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