Planning for Exit
With the world’s recent and continuing lockdowns, in view of the ever-present Covid-19 pandemic, more and more South Africans are considering moving abroad (or having their children move abroad).
Recent Changes To Financial Emigration Leaves Banks In The Dark
“From blocked accounts, to financial freedom, and back to blocked accounts.”
Through the Looking Glass: SARS Audits on Offshore Assets
South Africa has a history of taxpayers making use of offshore structures in order to conceal their assets and income. Taxpayers have long believed that these arrangements were beyond SARS’ reach, but will they stand the test of time?
Declaration Of Cease To Be A Tax Resident
On Thursday 3 June 2021, SARS issued its guidance on what ceasing South African tax residency involves, by posting its “Cease to be a Resident” webpage. This is a welcome initiative that may clear up any misconceptions and dispel any advice peddled in the market that this is simply a matter of ticking boxes.
Disappearing Exchange Control
We have seen significant changes and adjustments to the exchange control policies with National Treasury steadily reducing exchange controls for individuals seeking to send money abroad, particularly in the last 15 odd years.
Non-Compliant Expats In Africa Headed For Tax Showdown With SARS
South African expatriates who ignore their tax obligations will soon find themselves in hot water with SARS.
NEWS | BY THE NUMBERS: EXPAT TAX THROUGH THE LENS OF EXPERTISE
On the minds of many South African expatriates are the options which are available to them for tax relief in South Africa, given the many changes made to the tax laws in South Africa.
NEWS | EMIGRATING AT 55 PLUS? YOU STILL PAY TAX AND YOU’LL WAIT FOR YOUR RA
If you’re 55 plus and have emigrated or are intending to emigrate, you’ll still have to submit annual returns to SARS and pay tax on your worldwide income for the rest of your life.
NEWS | SARS KEEPS TABS ON SOUTH AFRICA’S BRAIN DRAIN
South Africa has experienced a large brain drain over the past few years with many skilled South Africans emigrating. However leaving South Africa doesn’t mean you can forget your relationship with SARS.
NEWS | ARE YOU A MILLENNIAL AND EMIGRATING? DON’T KISS SARS GOODBYE YET
As a South African millennial income earner, even if you’re moving abroad, you’ll still have to declare your worldwide income to SARS on an annual or provisional basis.
