ZAR500k early inheritance from a parent

[guns4activists]

I am just giving an option for the transfer. Property is also an option as I said. But never mind.

 

[guns4activists]

Mom buys crypto. Transfer crypto to kids. They withdraw.

 

[vancouverguy]

@guns4activists And how does that avoid tax issues? She is donating the crypto which has value, they are selling (not withdrawing)

 

[allbutnone]

@ann58 PROPERTY. I bought my house for R520k in December 2013. Today the estimatec value is R1. 2mil

 

[vancouverguy]

@allbutnone That's 8.75% pa appreciation. But also account for rates, taxes, maintenence within that.

 

[allbutnone]

@vancouverguy In my case its my home, but if i ever got inheritance i would buy a property and the rates, maintenance and insurances should be covered by tenants in the form of rental income.

 

[danmillward]

@allbutnone Congrats I guess? I was speaking to a guy in my neighbourhood who bought his house for R2.6m 4 years ago, put another R500k into it and sold it for R2.4m recently.

I don't know why you think "I did this thing and earned a worse return than retail bonds and other people literally make huge losses" is good investment advice.

 

[allbutnone]

@danmillward Do you know the property lost value?

 

[ann58]

@allbutnone Do you mind me asking where you bought it? Crazy how much prices have risen in the past 10 years.

 

[allbutnone]

@ann58 In Pietermaritzburg a suburb called Boughton

 

[chootas]

@ann58 Only allowed 100k per year tax free donated

 

[evollanrete]

@ann58 Get your mom to take out a retirement fund for R500k and name you the beneficiary and upon her passing you inherit bypassing the estate duty issue and taxes today.

 

[kkrive]

@ann58 RSA Retail bonds.