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


Gift of GBP

Posted 8 October 2015

Sd123 says:
8 October 2015 at 9:09

Please would you let me know what the tax implications are for receiving a gift of GBP4000 into my RSA bank account. Thanks very much.

TaxTim TaxTim says:
8 October 2015 at 15:36

Donations tax is payable by the donor at 20% on donations in excess of R100,000 pa made within South Africa. However, there is no donations tax on money donated from an offshore donor (provided it was earned offshore) to a South African resident. You must declare it though in your Tax Return as "amounts not considered taxable" but it won't attract tax.

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




Do your Tax Return in 20 minutes or less!

TaxTim will help you:

 Do Your Tax Return Easily
 Avoid penalties
 Maximise your refund
Tim uses your answers to complete your income tax return instantly and professionally, with everything filled in in the right place.

Let Tim submit your tax return direct to SARS in just a few clicks!

Get started

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.