FAQ Blog Calculators Students Logbook Contact
Do your Tax with TaxTim and WIN R10,000  More info   T&C's apply


Will SARS suspect me of tax evasion If I don't declare a watch(R23 000) donated to a friend.

Posted 25 August 2014

What happens if SARS finds out about a casual gift(a watch) I have given to a friend. Will SARS investigate me for tax evasion if I have donated a watch valued at R23 000 to a friend and I have not declared any details relating to that donation on any tax returns. I'm aware that I would qualify for the R100 000 general exemption for donation.

TaxTim TaxTim says:
25 August 2014 at 14:22

Giving a watch to a friend, especially under the R100 000 value does not need to be declared or attract any tax.

This entry was posted in Tax Q&A and tagged , , . Bookmark the permalink.



Blog Categories


Ask TaxTim

Got a question you want answered about tax?

Visit our helpdesk

Get SARS Tax Deadlines in your Inbox
We'll tell you when you need to file, along with tax tips and updates.