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Is a flat I build on my bond with the increase in bond cost paid by parents and brothers an income?

Posted 26 November 2015

Morne says:
25 November 2015 at 22:15

I built a flat for my parent, increasing my bond. My parents and brothers help pay for the increase in the bond. The amount just covers the increase in bond cost. Is the payments an income or not?

TaxTim TaxTim says:
26 November 2015 at 7:33

No this would not constitute income.

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