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Mike says: 7 March 2016 at 14:35 If I need to register my child (minor) for tax due to interest and or CGT earned from their investment - do I register them as a provisional tax payer or as an individual tax payer? If my child earns less than R 75,000 through interest/CGT do I still need to register them for tax even though they have no tax liability? The pricing on your website for individual tax - would assume that this is per tax submission? |
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TaxTim says: 8 March 2016 at 10:31 If earnings are below R75,000 (tax threshold) then no need to register as a provisional taxpayer or submit a tax return for your child. The pricing is per tax return submission, correct. |
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Mike says: 8 March 2016 at 11:03 Many thanks - greatly appreciated! |
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Mike says: 8 March 2016 at 12:14 As a matter of interest: is the tax threshold of R 75,000 determined after the abatement of R 23,800 (interest) and CGT R 40,000? many thanks! |
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TaxTim says: 8 March 2016 at 12:56 Yes, correct - you first apply the exemption and then only taxable portion counts towards the R75,000 threshold. |
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Mike says: 8 March 2016 at 13:12 Much appreciated - thank you. |
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TaxTim says: 8 March 2016 at 13:29 Only a pleasure! |
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