NEWS | EXPATS CAN CASH IN RETIREMENT ANNUITIES TO HEDGE AGAINST VOLATILE RAND
South Africans living abroad who have not yet financially emigrated and cashed in their retirement annuity savings are concerned about the volatile rand exchange rate.
Author Archive for: Financial Emigration
Entries by Financial Emigration
NEWS | WHAT EMIGRATING TAXPAYERS NEED TO KNOW IN 2021
South Africans emigrating to greener pastures may be prevented from leaving the country – or worse – if their application for tax clearance is denied by SARS.
NEWS | FINANCIAL EMIGRATION REMAINS THE CLEANEST ROUTE OUT OF SOUTH AFRICA
The process of financial emigration, which is the process that allows a taxpayer to formally place themselves on record as a non-resident for tax purposes with the South African Revenue Service (SARS), recently changed and came into effect on 1 March 2021.
NEWS | THE NEW FINANCIAL EMIGRATION ANNOUNCED BY SARB
Financial emigration is the process used by many South Africans abroad to formalise their non-resident status for both tax and exchange control purposes, and which is set to be amended, as mentioned a year ago in Budget 2020, and come into effect on 1 March 2021.
NEWS | RELIEF FOR EXPATS CONFIRMED WITH PROMULGATION OF TAX LEGISLATION
South African expatriates have been kept in suspense regarding a proposed law change aimed at providing relief to those who could not leave the country under lockdown.
NEWS | 2020 TAX PROPOSALS SIGNED INTO LAW – 10 KEY CHANGES
The President has given effect to the 2020 tax proposals by signing three tax Acts into law. On 15 January 2021, the President gave his assent to the Rates and Monetary Amounts and Amendment of Revenue Laws Act No. 22 of 2020 (“Rates Act”), the Taxation Laws Amendment Act No. 23 of 2020 (“TLAA”) and […]
NEWS | SARS IS AWARE OF YOUR OFFSHORE ASSETS
The days where SARS shuts its eyes to taxpayers’ offshore holdings are thing of the past. SARS is finally utilising the Automatic Exchange of Information regime to pin down taxpayers who have not disclosed their offshore interests and numerous taxpayers have already received some alarming notices to this effect.
NEWS | LAST CHANCE FOR SA EXPATRIATES TO COME CLEAN WITH SARS
South Africans living or working abroad can no longer avoid the long arm of SARS. Under pressure to meet its revenue quotas, the tax authority has started auditing the country’s non-compliant expatriates in earnest.
NEWS | MARCH 2021 A WATERSHED FOR RETIREMENT FUNDS IN SOUTH AFRICA: 5 THINGS YOU NEED TO KNOW
1 March 2021 marks a watershed for retirement funds in South Africa, says Jean du Toit, attorney and head of tax technical at Tax Consulting South Africa.
In the News
Don’t be misled: No waiting period for SA expats who want to cease tax residency25/03/2025 - 19:07
Understanding South Africa’s Exit Tax and the Proposed Tax on Retirement Interests25/03/2025 - 09:10
Talk of a Wealth Tax in South Africa is just not going away05/03/2025 - 10:42
South Africa’s Financial Future in Limbo – Should You Exit Now?01/03/2025 - 08:11
2025 Budget Speech: August House Adjourned – Is it time to make the move?24/02/2025 - 08:17