Banking question

[The_Ogre]

So I have this friend from Zimbabwe who works as a painter. Recently his employer told him that he's not going to pay him in cash anymore and he needs to get himself a bank account.

He's still waiting for his paperwork so in the mean time I gave him my account number to use. He gets paid weekly (just under R3k). It's been around a month now that his wages gets paid into my account. I then do a cardless transaction and send it to his phone.

Should I worry about the effect this will have come tax return time? I don't want to get myself in hot water due to trying to help someone.

 

[netstrider]

I believe it's going to be part of your income tax declaration on top of your current earnings.

 

[scudsucker]

I have no answer to that but good on you for supporting a man in a difficult situation.

 

[Crayons]

Tell SARS it's spending money from your sugar mommy.

 

[chrisc]

Tyme Bank will open an account for him
I organised one for my Malawian gardener and have paid him several times

 

[ArmatageShanks]

I have no answer to that but good on you for supporting a man in a difficult situation.

This

 

[R13...]

I don't think tax is your biggest worry. To an outside observer, it'll look like you are involved in shady dealings (which you are).

 

[Jet-Fighter7700]

Tyme Bank will open an account for him
I organised one for my Malawian gardener and have paid him several times

this, just needs papers of some sort,

 

[The_Ogre]

I don't think tax is your biggest worry. To an outside observer, it'll look like you are involved in shady dealings (which you are).

Take a step backwards.

If you work for me and I send your wages to you via a third party, how exactly is that "shady dealings"?

 

[The_Ogre]

Tell SARS it's spending money from your sugar mommy.

Problem is the reference his employer uses is "Wages <date> Chris"

 

[R13...]

Take a step backwards.

If you work for me and I send your wages to you via a third party, how exactly is that "shady dealings"?

I said it looks shady that money comes into your account and then out the other way. However, the employer is employing an illegal but that's probably not your problem.

 

[RedViking]

Please send SARS the question and your details and then come report here with experience. We need some 10/10 stories.

 

[RedViking]

I said it looks shady that money comes into your account and then out the other way. However, the employer is employing an illegal but that's probably not your problem.

Well, he is helping the employer to employ an illegal. This can get very interesting.

 

[Sepeng]

Take a step backwards.

If you work for me and I send your wages to you via a third party, how exactly is that "shady dealings"?

Assume for a second the painter is not really painting but selling drugs.
Would this is effect not be money laundering? Amounts low enough to not trigger any threshold alarms, but occurs often?
Bearing in mind my knowledge of money laundering is 99% based on movies, 1% a course we do annually.

I wouldn't worry too much though - this happens to me often, we do boys trips and folk will pay me, I'll pay the place, or poker nights, same kinda thing. It's far more erratic to be fair.
I dunno what kind of monitoring systems they've got in place but the same amount coming in, then going out soon after, maybe that is some kind of red light for them.

 

[I.am.Sam]

@Pineapple Smurf @RedViking

how long before a thread starts with my zim friend is after me after using his money for alcohol

 

[acidrain]

We have a few people who use 3rd party accounts. Can't see SARS having a say over what you use your account for (provided it's not illegal). SARS will likely confirm the deposit with the depositor, which will show the income is not yours.

 

[Crayons]

Problem is the reference his employer uses is "Wages <date> Chris"

Wages for selling your assss and Chris is the name of her dead husband that you remind her of.

 

[R13...]

@The_Ogre why doesn't the employer do the cash sends directly instead of them going through you? All of the banks have some kind of cash send system.

 

[Polymathic]

The cellphone wallet thing, whatever its called can possibly be a solution.

 

[ShaunSA]

Wages for selling your assss and Chris is the name of her dead husband that you remind her of.

OP only sells his ass to guys. For beer