Avoid being overtaxed when giving financial gifts
As a parent, there is no greater joy than helping our children realise their goals in life. Whatever those goals look like, being in a position to give them financial gifts can assist them greatly in reaching their targets.
But what are the tax ramifications associated with this gesture? How do you ensure that the bulk of your gift ends up in your child’s bank account?
In this free, downloadable infographic, we examine the current tax exemptions in place to ensure that giving your children financial gifts won’t ring up a sizeable tax bill for you in the process.
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