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Diane said: 22 April 2015 at 14:57 I am a permanent resident in South Africa, (not employed) Married to a South African. Due to financial constraints I am obligated to transfer some of my foreign savings from my account overseas into my South African Bank account, to pay bills in South Africa (Electricity, home loan etc. ). Would I be taxed on this? I was recommended to put the amount source down as a "gift" by my bank, is this correct? |
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TaxTim Marc said: 24 April 2015 at 19:49 Yes, you would do this. As long as the money was not earned in South Africa then you can transfer it in tax free. |
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Diane said: 29 April 2015 at 12:53 Thank you very much for your reply, it has been most helpful. |
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TaxTim Marc said: 30 April 2015 at 13:39 Only a pleasure! |
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