Hide
Earn under R350,000? Click here to see why you still need to file to get your Tax Refund.
CLOSE
Get Tax Deadline Reminders, News and Tips
 

We'll tell you when you need to file, along with tax tips and updates.
Try Tim Now

Do continuous lump sum deposits from my parents get declared and taxed?

Posted 27 September 2013 under Tax Questions

Let TaxTim
help you
submit your
Tax returns!




TaxTim will help you:
  • Do Your Tax Return Easily
  • Avoid penalties
  • Maximise your refund
Tim uses your answers to complete your income tax return instantly and professionally, with everything filled in in the right place.

Let Tim submit your tax return direct to SARS in just a few clicks!

Get started

Blog Categories


Ask TaxTim

Got a question you want answered about tax?

Visit our helpdesk →
I am currently working and earn R10 000 a month but my parents still send me R12 000 every 3 months in to my bank account which I then use to pay for college studies for the next 3 yrs. Does the 12 000 from parents get taxed as well?

This entry was posted in Tax Questions. Bookmark the permalink.

TaxTimTaxTim says:
29 September 2013 at 21:10

No it will not get taxed as it is an amount to support you and pay for your studies.


Get Tax Deadline Reminders, News and Tips
 

We'll tell you when you need to file, along with tax tips and updates.

Blog Categories


Ask TaxTim

Got a question you want answered about tax?

Visit our helpdesk →

Let TaxTim
help you
submit your
Tax returns!




TaxTim will help you:
  • Do Your Tax Return Easily
  • Avoid penalties
  • Maximise your refund
Tim uses your answers to complete your income tax return instantly and professionally, with everything filled in in the right place.

Let Tim submit your tax return direct to SARS in just a few clicks!

Get started