n Tax Breaks Newsletter - Taxing issues
|Article Title||Taxing issues|
|© Publisher:||Moneyweb (Pty) Ltd|
|Journal||Tax Breaks Newsletter|
|Publication Date||Oct 2009|
A question I am often asked is around the tax implications of writing off loan accounts when someone dies. This is a common situation when benevolent parents loan money to their children (rather than donate, since this attracts Donations Tax), and then "write off" the loan in their wills when they die. However, a nasty CGT surprise awaits if you get it wrong
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