FAQ Blog Calculators Students Logbook Contact
Do your Tax with TaxTim and WIN R10,000  More info   T&C's apply


Maximum amount of money received as a gift before being taxed.

Posted 18 November 2015

Kay said:
18 November 2015 at 10:44

I received monetary gifts for my weddings, kitchen tea, bachelorette party and engagement party. I deposited the money on a monthly basis to avoid one big amount. How will this work for my income tax return. Will I be taxed on this? I wasn't sure of the best way to do it. Please help.

TaxTim Marc TaxTim Marc said:
18 November 2015 at 11:58

These gifts won't be taxed so no need to declare on your Tax Return.

This entry was posted in Tax Q&A and tagged . Bookmark the permalink.




Blog Categories


Ask TaxTim

Got a question you want answered about tax?

Visit our helpdesk

Get SARS Tax Deadlines in your Inbox
We'll tell you when you need to file, along with tax tips and updates.