Hide
Earn under R350,000? Click here to see why you still need to file to get your Tax Refund.
CLOSE
Get SARS Tax Dates and Deadlines in your Inbox
 

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

Gifts from overseas into SA bank account

Posted 6 April 2015 under Tax Questions



Blog Categories


Ask TaxTim

Got a question you want answered about tax?

Visit our helpdesk →
C says:
26 March 2015 at 12:32

I'm a non-South African citizen on a temporary visa. What are the regulations when my parents send money gifts from Europe into my South African bank account? Is there a limit before I need to pay tax on the money? Why does the bank always call you to ask what it's for?

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

TaxTimTaxTim says:
26 March 2015 at 19:40

There are no tax consequences of this - the bank needs to know for Exchange Control purposes, but this is not a tax query.


Get SARS Tax Dates and Deadlines in your Inbox
 

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 →