Private individuals may utilize the following gift allowances per calendar year:

R750,000 per adult

Please note that there is a 20% tax payable on gift allowances over R100,000 so you are effectively limited to a maximum 'gift' per calendar year of R100,000.

This allowance may be used by private individuals currently resident in South Africa to send gifts to non-residents currently living overseas or to South Africans who are temporarily living abroad. The allowance cannot be paid to yourself and needs to be paid to a third party based overseas.

Exchange4free require our clients to sign a declaration stating that you have not utilised your gift allowance through any other financial institution during the current calendar year.

It is not necessary to pay out the full R750,000 in one go but this can be paid out in smaller amounts up to a total of R750,000 over the course of the current calendar year.

Please see the guide below for full details on the process and requirements to send funds out of SA using your gift allowance:

                                                          GIFT ALLOWANCE GUIDE   

Please note that the total limit for the Gift and Travel Allowances together is R750,000 per calendar year. This can be split between the two allowances but the sum of both in any calendar year cannot exceed R750,000 in total.