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DONATION TAX - Coggle Diagram
DONATION TAX
Info:
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Why would one Donate:
- Avoid normal tax
- Avoid estate duty
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Liability
- Remains with donor, unless he fails to pay, then;
- Donee becomes Jointly/severally Liable
- Due the month after Donation
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Specific Exepmtions
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Made for benefit of traditional council, traditional
community, tribe
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Government, municipalities, political parties , PBOs
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General Exemption
SECTION 56(2)(b): Combined R100 000 annual donations tax exemption for natural person
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Definitions
PROPERTY: Means any right in or to property; movable or immovable,
corporeal or incorporeal, wheresoeversituated
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DONATION: any gratuitous disposal of property including any gratuitous waiver or renunciation of a right
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