How much will I get out from a R500 000 cash prize in a competition after tax.By Marc Sevitz · Updated 9 July 2013What amount will be paid for tax when I receive R500 000 lump sum in prize money from a competition? TaxTim Marc said:15 July 2013 at 19:13It would not be taxable as it seen as a "fortuitous gain" so a capital event not income earned.Capital Gains
What amount will be paid for tax when I receive R500 000 lump sum in prize money from a competition? TaxTim Marc said:15 July 2013 at 19:13It would not be taxable as it seen as a "fortuitous gain" so a capital event not income earned.
