As parents we are always on the lookout for successful ways of securing the future for our children, this can be either through opening investment vehicles or savings accounts on their behalf. We do this so that they can have a head start in life be it for educational investments, purchasing accommodation or a car etc.


Now, the mind-boggling question is, who will be liable for the tax, or will Sars forfeit the tax because it’s in the name of the minor (under the age of 18 years)? In this article, we go through the fine print about tax and ownership rights.


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