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how much money can I give to a South-African person tax fr

Customer Question
ee...
how much money can I give to a South-African person tax fr ee
Submitted: 6 years ago.Category: Tax
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Answered in 4 minutes by:
8/1/2011
Tax Professional: Tax.appeal.168, Tax Accountant replied 6 years ago
Tax.appeal.168
Tax.appeal.168, Tax Accountant
Category: Tax
Satisfied Customers: 3,851
Experience: 3+ decades of varied tax industry exp. Tax Biz owner
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Hello, welcome, and thank you for choosing Just Answer.

 

In order for me to accurately answer this question, I need to know if you are a U.S. citizen or a U.S. resident alien?

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Customer reply replied 6 years ago
I am a dual South African and British citizen, (I have nothing to do with US).

I want to know if I give a South- AFRICAN citizen who lives in SOuth-Africa a gift of money, how much can I give them without THEM then having to pay tax on it. ( in SOuth-AFrica) SARS
Tax Professional: Robin D., Senior Tax Advisor 4 replied 6 years ago
Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 15,865
Experience: 15years with H & R Block. Divisional leader, Instructor
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Hello and thank you for using Just Answer.

Gift tax is payable where a gift of property is given to another individual who receives the gift (i.e. the beneficiary). The taxable base of the gift is usually the net value of the gift. The gift tax due is usually at a rate of 20%. No gift tax is applied if the value is less than R400. Each resident may only receive two gifts per year.

I sincerely XXXXX XXXXX information is helpful.

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Tax Professional: Robin D., Senior Tax Advisor 4 replied 6 years ago
Please advise if you need more info.
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Customer reply replied 6 years ago
Relist: Inaccurate answer.
she did not answer my question
Customer reply replied 6 years ago
just cancel the query please
Tax Professional: Robin D., Senior Tax Advisor 4 replied 6 years ago

You can request to have Customer Service refund your deposit. I think others saw the relist and were confused as to the reason since my response advised on how much a South African could receive and not be taxed.

Please contact Customer Service and request the refund of your deposit. Thank you

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Robin D.
Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 15,865
15,865 Satisfied Customers
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