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Will SARS suspect me of tax evasion If I don't declare a watch(R23 000) donated to a friend.

Posted 25 August 2014 under Tax Q&A


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What happens if SARS finds out about a casual gift(a watch) I have given to a friend. Will SARS investigate me for tax evasion if I have donated a watch valued at R23 000 to a friend and I have not declared any details relating to that donation on any tax returns. I'm aware that I would qualify for the R100 000 general exemption for donation.

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TaxTim TaxTim says:
25 August 2014 at 14:22

Giving a watch to a friend, especially under the R100 000 value does not need to be declared or attract any tax.


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