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.
Author Archive for: Financial Emigration
Entries by Financial Emigration
NEWS | SUCCESSFULLY NAVIGATING IMPORTANT SOUTH AFRICAN GOVERNMENT DOCUMENT RENEWALS WHILE LIVING ABROAD
As a South Africa working and living abroad, there is nothing more frustrating than incessant delays on applications for new and/or renewals of South African Government-issued documentation (referred to as “Civic services”).
NEWS | TAXATION LAWS AMENDMENT BILL PROVIDES RELIEF FOR SOUTH AFRICAN EXPATS “TRAPPED” DURING LOCKDOWN
On 13 October 2020, National Treasury and SARS published their responses on the Draft Taxation Laws Amendment Bill (“TLAB”), which included potential relief for South African expatriates who were unable to leave South Africa owing to the Covid-19 lockdown.
NEWS | SOUTH AFRICAN GOVERNMENT ISSUED CERTIFICATES 101: WHAT YOU NEED TO KNOW
The protracted lockdown in South Africa resulted in the Department of Home Affairs (“DHA”) offering limited emergency services. South African citizens and permanent residents seeking Civic Services such as unabridged birth and marriage certificates were left frustrated as existing applications were indefinitely delayed.
NEWS | TREASURY AND SARS OUTLINE NEW TAX CHANGES FOR SOUTH AFRICA
National Treasury has responded to some of the key changes proposed in its Draft Tax Law Amendment Bill (TLAB) and Draft Tax Administration Laws Amendment Bill (Draft TALAB) – including questions around emigration and harsher punishments for taxpayers.
NEWS | UNEXPECTED TAX RELIEF FOR EXPATRIATES “STUCK” IN SOUTH AFRICA
South African expatriates who were unable to leave South Africa on account of the lockdown will be relieved to learn that the requirements of the foreign employment exemption (Section10(1)(o)(ii)) will be relaxed.
NEWS | NATIONAL TREASURY CONFIRMS EMIGRANT RETIREMENT 3 YEAR CAPTURE
South Africans who have emigrated or plan to permanently leave South Africa have until 28 February 2021, just over four months from now, to effect financial emigration. National Treasury has laid down the new law and made it clear – the consequence otherwise is your retirement money will be locked in for three years, you […]
NEWS | ON A KNIFE-EDGE: SARS’ FOCUS ON EXPATRIATES THIS FILING SEASON
This year has been a journey into unchartered waters for us all, and a particularly tense time as far as South African expatriates are concerned. For many expats, more and more questions have been left unanswered as this filing season, and the current tax year begins to draw to a close.
NEWS | VERDICT ON RETIREMENT FUND WITHDRAWAL COMING SOON
The time for South Africans who consider emigrating to learn their fate around their pensions is drawing closer.
NEWS | WARNING OVER GOVERNMENT’S PLANS TO CHANGE SOUTH AFRICA’S EMIGRATION RULES
A number of tax and financial groups have issued warnings over a new draft bill which will introduce changes for South Africans looking to take their retirement funds out of the country.
In the News
Worried about your assets when you break tax ties with South Africa, here are some tips.13/12/2024 - 09:15
Understanding and Changing Your Tax Residency Status in South Africa02/12/2024 - 14:00
Avoid nasty tax surprises by checking your tax residency status with SARS26/11/2024 - 12:23
Reporting Requirements for Ceasing South African Tax Residency20/11/2024 - 07:53
Financial Emigration: Legal and Compliance Considerations13/11/2024 - 08:55