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MInor - tax liabilities

Posted 8 March 2016 under Tax Questions



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Mike says:
7 March 2016 at 14:35

If I need to register my child (minor) for tax due to interest and or CGT earned from their investment - do I register them as a provisional tax payer or as an individual tax payer? If my child earns less than R 75,000 through interest/CGT do I still need to register them for tax even though they have no tax liability?

The pricing on your website for individual tax - would assume that this is per tax submission?

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TaxTimTaxTim says:
8 March 2016 at 10:31

If earnings are below R75,000 (tax threshold) then no need to register as a provisional taxpayer or submit a tax return for your child.

The pricing is per tax return submission, correct.


Mike says:
8 March 2016 at 11:03

Many thanks - greatly appreciated!


Mike says:
8 March 2016 at 12:14

As a matter of interest: is the tax threshold of R 75,000 determined after the abatement of R 23,800 (interest) and CGT R 40,000?

many thanks!


TaxTimTaxTim says:
8 March 2016 at 12:56

Yes, correct - you first apply the exemption and then only taxable portion counts towards the R75,000 threshold.


Mike says:
8 March 2016 at 13:12

Much appreciated - thank you.


TaxTimTaxTim says:
8 March 2016 at 13:29

Only a pleasure!


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