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

Posted 27 September 2013 under Tax Questions



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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?

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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.


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