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Income earned by a minor from a tax free investment?

Posted 23 March 2017

Dan says:
23 March 2017 at 17:27

Do I have to declare income earned from a Tax Free Savings Account opened for my minor child on my tax return? I've contributed in my personal capacity to my own Tax Free Savings Account and I've also opened and contributed into a Tax Free Savings Account for my minor child.

TaxTim TaxTim says:
23 March 2017 at 20:36

You'll not have to declare this on your tax return as effectively you have donated this amount to your child in order for them to take advantage of the Tax Free Savings Account. Provided you don't donate more than R100k a year in total then you will have no issue.

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