My companion and I have been living together for many years however we are not married. He recently sold his house and the money was used in purchasing another house but in my name and not his. Will I have to pay tax on that money? We are both pensioners. I have also had to draw money from my investments to pay for the shortfall as the house I bought cost more than the amount received from selling his house.
yes we have been living together as a couple for just over 10 years now
TaxTimsays: 7 June 2016 at 11:49
SARS will consider 10 years as a long enough period that although you are not legally married you would be considered spouses for tax purposes and therefore him buying a house in your name would be seen as an exempt donation between spouses.
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