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How to use donations effectively in an estate plan to reduce tax

Personal Finance 1 year ago

The saying goes that we should pay Caesar what he is due and not what he demands.


12 Oct 2019
PREMIUM!
How to use donations effectively in an estate plan to reduce tax

To achieve this in tax planning, estate planners use donations as one of the ways in which to help individuals reduce the taxable values of their estates. Donations of up to R100,000 per year can be used. However, not all donations are exempt from donations tax. Principal exemptions for donations tax include donations between spouses, donations to charitable, ecclesiastical and educational institutions, and certain public bodies limited to certain thresholds. Donations of up to R100,000 will also not be taxed, nor will donations of assets already outside of South Africa, subject to certain conditions. Donations where the recipient will not...

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