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 to the tax levied as per SARS’ Tax Tables.

Mbalenhle Mahlaba
Expatriate Tax Specialist
BCom Law & LLB