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Tax implications on unit trust for a new born child

Posted 17 August 2015 under Tax Questions



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Mo says:
16 August 2015 at 19:34

Hi Tim
What are the tax implications if I have a unit trust fund for my child. Do I need to disclose the interest and capital gain on sale in my tax return? Thank you

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TaxTimTaxTim says:
17 August 2015 at 17:19

How old is your child?


Mo says:
17 August 2015 at 18:20

My child is a baby, just over a year old. Thank you


TaxTimTaxTim says:
17 August 2015 at 18:21

Then the interest and capital gains will be included on your tax return unfortunately.


Mo says:
17 August 2015 at 18:53

Until what age would this advice be applicable?


TaxTimTaxTim says:
17 August 2015 at 19:51

This will be until your child turns 18 as you had in fact donated the money to them. However you are allowed a R100 000 tax free donation per year in total so if you keep under this then the amounts won't accrue to you.


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