It is always heart-warming to hear about the gift of the givers – until SARS joins the queue of the receivers.
While donations might be tax deductible in some instances, it may also attract donations tax to be settled with SARS.
It is important that both parties to these transactions are aware of their position and responsibility when it comes to the tax consequences thereof.
We offer a session focused on donations taxes, from the perspective of both supplying and receiving party.
This session will address matters including, but not limited to, the following:
• What constitutes a donation (including deemed donations) and what is exempt from donations tax
• Valuation of donations (including usufruct)
• Link to
o Income tax provisions for donations
o Tax effects of donations with trusts, spouses and other related transactions
• Administrative provisions of the relevant returns
