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TaxTim says: 1 July 2014 at 9:52 Unfortunately there is no tax relief for care, it would be ideal, but not in SA. You can transfer the money to a separate account in your name, making sure that there are none of your accounts or expenses paid and only hers. Keep records in case SARS ever does come knocking. However if the amount is less than R100 000 then you don't need to worry. In the event of her passing, if the value of her estate is less than R3.5m then there won't be any estate duty so having transferred the amount will not impact the tax. Just make sure to state in her estate that this money existed. Apologies for the insensitivity of this answer, but it helps to have the facts. You can claim any medical expenses paid for her however. |
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