My father has an un-bonded property (house) which he wants to donate to me (his son). 20% tax is payable on the value. When and by which individual is this payable? How is the property valuated, and by whom?
You would need to get the property valued by an estate agent or similar professional. You would need to file a Donations Tax tax return and he would have to pay the 20% to SARS when the donation is made.
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