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Does pocket money count towards the R100,000 donations threshold?

Posted 23 June 2015

ICE MUM says:
9 June 2015 at 8:45

I am giving my son R100,000 and putting it into a fixed deposit account to save. I know this is the maximum donation I can give to him without me paying tax. If I also give him an allowance of R1500 per month for pocket money into his current account and this is obviously spent every month on necessities does this count towards the R100,000 allowance?

TaxTim TaxTim says:
9 June 2015 at 9:13

Pocket money has never really been considered a donation and SARS shouldn't have a problem with this.

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