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Do I declare a gift of R100,000

Posted 16 September 2015 under Tax Questions



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Dasiy says:
16 September 2015 at 15:00

The person I was working for in a personal capacity for 10 years as an assistant emigrated to the USA. She wants to give me a thank u parting gift of R100,000. I am a provisional tax payer and pay tax on the R10,000 she has been paying me monthly. Do I have to declare it on my tax?

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TaxTimTaxTim says:
16 September 2015 at 16:39

Yes, you should declare it as an "amount considered non-taxable"
It is a donation and therefore you won't need to pay tax on it.

Donations tax is paid at 20% by the donor on amounts exceeding R100,000 per year. Therefore assuming your employer was a SA tax resident, if she gave any other gifts in addition to yours, she should be aware that she would need to pay donations tax at 20% on these amounts.


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