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John says: 6 August 2015 at 7:10 My Father who is a non-tax resident of South Africa would like to assist my wife and I with a donation of R500 000 to help us to buy a house. Please advise if I receive this donation if it is required that I declare it it on my tax return and if it is subject to any tax? |
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TaxTim says: 6 August 2015 at 15:26 Since your father is a non-tax resident, there won't be any tax payable in South Africa on the donation made to you. If he was a South African tax resident, he could donate tax-free up to R100,000 only, and anything above this amount would be taxed at 20%. (i.e donations tax is payable by the donor) In the opening questions of your tax return, you should answer the question below as "yes": "Did you receive any income considered as non-taxable?" And then scroll down and include this in your tax return as a "donation". |
