Donations Tax – Part 2 of 4

November 16, 2012 in Uncategorized

Do any exemptions apply?
Donors as individuals
In terms of section 56(2) of the Income Tax Act –  Donations tax shall not be payable in respect of so much of the sum of the values of all property disposed of under donations by a donor who is a natural person as does not during any year of assessment exceed R100 000. This came into operation from 2007/03/01 and is applicable in respect of any year of assessment commencing on or after that date.

Donors other than individuals
For juristic persons such as private companies, the exemption is limited to R10 000 in respect of casual gifts. Public companies are exempt from donations tax.

Add Comment Register



Leave a reply

You must be logged in to post a comment.