Everyday Online Subscriptions and Shopping Can Push South Africans Over Their Offshore Spending Limit For South African residents and expatriates living abroad, reaching the R1 million annual limit of offshore spending allowed under exchange control regulations, can happen far more quickly than expected. This can soon land them in hot water with the South African […]
SARS Sharpens Scrutiny of Expatriate SA Tax Residents South African expatriates living and working abroad are firmly in the Tax Man’s sights. Recent enhancements clearly indicate the South African Revenue Service (SARS) is increasing its focus on the importance of expatriates legally confirming the basis on which they cease their tax residency status in South
SARS Sharpens Scrutiny of Expatriate SA Tax Residents Read More »
Coming Home? SARS Tightens Record-Keeping for Returning Expats The South African Revenue Service (SARS) has announced enhancements to its record-keeping of taxpayers’ tax residency status this coming tax filing season, taking direct aim at returning South African expatriates. This move sends a clear message to expats who previously ceased tax residency that their re-entry into
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Leaving SA does not abruptly end all one’s dealings here, but the devil is in the detail It is not to say that all South Africans who have started a new life overseas – whether for an extended period or permanently – have or want to sever all ties with their country of birth. Many
Leaving SA Does Not Abruptly End All One’s Dealings Here, But The Devil Is In The Detail Read More »
DO SOUTH AFRICAN EXPATS RETURN HOME FOR THE BRAAIS? The fact that several countries abroad do not let you have a braai whenever and wherever you want, is not on its own the reason why South African expats return home after many years abroad. But when added to factors like cultural differences, the lack of
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Project AmaBillions | Being abroad won’t save you from SARS’ collection efforts Being abroad won’t save you from SARS’ collection efforts As the upcoming tax filing season approaches, the South African Revenue Service (SARS) is reportedly ramping up a major initiative aimed at recovering outstanding tax debt including from taxpayers living abroad. READ MORE John-Paul
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Expats Among Millions of South Africans Tapping into Two Pot-Windfall Only two months into the new tax year, many South Africans have again dipped into their retirement fund Savings Pot, after also making a withdrawal in the previous six months. READ MORE John-Paul FraserTeam Lead: Cross Border Taxation Shuanita de WetRetirement and Pension Fund
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Don’t be misled: No waiting period for SA expats who want to cease tax residency Many South African expatriates have unknowingly missed out on paying lower taxes in South Africa for years while living abroad, due to confusing or misguided advice that they must reside outside the country for a number of years before officially
Don’t be misled: No waiting period for SA expats who want to cease tax residency Many South African expatriates have unknowingly missed out on paying lower taxes in South Africa for years while living abroad, due to confusing or misguided advice that they must reside outside the country for a number of years before officially
Don’t be misled: No waiting period for SA expats who want to cease tax residency Read More »
Understanding South Africa’s Exit Tax and the Proposed Tax on Retirement Interests A misunderstanding of certain sections in the Income Tax Act has many South Africans who moved abroad and ceased tax residency, worried that they will also be liable to pay Capital Gains Tax (CGT) on the withdrawal of their retirement funds, in addition
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