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Mo said: 16 August 2015 at 19:34 Hi Tim What are the tax implications if I have a unit trust fund for my child. Do I need to disclose the interest and capital gain on sale in my tax return? Thank you |
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TaxTim Evan said: 17 August 2015 at 17:19 How old is your child? |
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Mo said: 17 August 2015 at 18:20 My child is a baby, just over a year old. Thank you |
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TaxTim Evan said: 17 August 2015 at 18:21 Then the interest and capital gains will be included on your tax return unfortunately. |
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Mo said: 17 August 2015 at 18:53 Until what age would this advice be applicable? |
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TaxTim Evan said: 17 August 2015 at 19:51 This will be until your child turns 18 as you had in fact donated the money to them. However you are allowed a R100 000 tax free donation per year in total so if you keep under this then the amounts won't accrue to you. |
