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deposit into my bank a/c for someone else

Posted 14 November 2013 under Tax Questions



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I am a provisional taxpayer, I have a son that does not have a bank account and his salary gets deposited into my bank account. Will this affect me in any way or should he get his own bank account?

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TaxTimTaxTim says:
14 November 2013 at 13:11

He should get his own account, but it will not affect you as you are acting as an agent for him and receiving money on his behalf which you then give to him. It is not income that accrues or is paid to you for your benefit.


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