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Donation from father to help with bond

Posted 30 May 2016

Daughter says:
30 May 2016 at 10:53

My dad wants to help us with our house bond by paying R100 000 into our bond account. Does this have any tax implications?

TaxTim TaxTim says:
30 May 2016 at 17:37

This would be a donation - it is not taxable in your hands but would need to be declared in your tax return as an "amount considered non-taxable". Donations tax is payable by the donor (i.e. your dad) at 20% on amounts greater than R100,000 per year. Please read our blog on Donations Tax for further details.

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