ToxicBunny
Oi! Leave me out of this...
- Joined
- Apr 8, 2006
- Messages
- 113,498
(143k - 100k) = 43k. With annual exemption, wouldn't it be flat rate of 20% on 43K and not on 143K?
Ahhh damn... overly simplified my life.. yes you are right
Still would probably be nearing R30k he owes SARS at this point, plus penalties..
But yeah, in my opinion (even though I screw basic tax things up), this story is bollocks from top to bottom in terms of her close family member paying this car off for her.