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Tax on cash donations to family, what do we pay?

Posted 8 March 2013 under Tax Questions



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My Dad wants to give each of the 3 children R 100 000 cash. How much tax is due and by who and when must it be paid to SARS.

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TaxTimTaxTim says:
10 March 2013 at 21:09

Donations tax is payable on all donations over R100 000 except to a spouse. So your dad could give one child R100 000, then R100 000 to his wife to give to you and then donate a further R100 000. In this way he would only be paying tax on R100 000 which would be at 20%. This is for each tax year.


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