The Uncertain Future Of Financial Emigration

NEWS | THE UNCERTAIN FUTURE OF FINANCIAL EMIGRATION

The History of the Policy Shift A quick recap for newcomers to taxation of South Africans abroad is that after a near two decade policy of giving an employment tax exemption to South Africans performing employment services abroad, there was a material policy shift by National Treasury and SARS, first to completely remove the exemption […]

SARS Auto Assessments-Why SA Expats Must Be Fully Compliant

NEWS | SARS NEW AUTO-ASSESSMENTS: WHY SOUTH AFRICAN EXPATRIATES MUST BE FULLY COMPLIANT

With the effects of COVID-19 hitting the National Treasury where it hurts the most, in the pocket; SARS has introduced auto-assessments.

South Africans With Itchy Feet, The New World Post COVID-19

NEWS | THE ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT IS CLEANING THE GLOBE

Looking at global statistics and for those following international news, it appears South Africans can be grateful for not being hit as hard as other countries by Covid-19; yet.

South African Expats Beware Of SARS Using Third Party Information

NEWS | SA EXPATS BEWARE: SARS EYES OFFSHORE ASSETS, FOREIGN INCOME AND BANK ACCOUNTS

Following SARS’ media statement on 5 May 2020, it is clear that revenue collection is under immense pressure with an expected collection shortfall of between 15% – 20%.

Must Expatriates Pay Provisional Tax To SARS?

NEWS | MUST EXPATRIATES PAY PROVISIONAL TAX TO SARS?

With the first provisional tax payment being due on 31 August 2020, there is some confusion regarding whether expatriates are deemed to be provisional taxpayers by the South African Revenue Service (SARS) or not.

All-Taxpayers-beware-10-points-from-SARS-Media-Release

NEWS | ALL TAXPAYERS BEWARE: 10 POINTS FROM SARS MEDIA RELEASE

On 5 May 2020, the Commissioner for SARS made a profound media statement, which gave a detailed account of projected revenue collection in light of the COVID-19 crisis, but also gave valuable insight of what we can expect from SARS in coming months.

Working From Home, What COVID-19 Means For Taxes On Expats Stuck In Place

NEWS | WORKING FROM HOME: WHAT COVID-19 MEANS FOR TAXES ON EXPATS STUCK IN PLACE

Following the most recent presidential address, it is clear that South Africa’s borders are going to remain closed for non-essential travel, at least for the time being.

7 new lockdown rules including-SARS Officials Returning to work

NEWS | 7 NEW LOCKDOWN RULES INCLUDING SARS OFFICIALS RETURNING TO WORK

Government has published more than a dozen new directives around South Africa’s lockdown regulations since the official introduction of level 4 restrictions on Friday (1 May).

Come Rain Or Come Shine, Expatriate Tax Will Be Due Soon

NEWS | COME RAIN OR COME SHINE, EXPATRIATE TAX WILL BE DUE SOON

Here comes the rain again With 1 March 2020 being the sunrise of the expatriate tax, the first tax payment will become due 31 August 2020.

Know Your Tax Liability South African Expatriates

NEWS | KNOW YOUR TAX LIABILITY SOUTH AFRICAN EXPATRIATES

The amendment to the expat tax exemption that came into effect 1 March 2020 will have a tremendous impact on both employers and employees respectively.

Temple Group Mauritius Updates on the imminent fiscal reforms in SA

NEWS | TEMPLE GROUP (MAURITIUS) UPDATES ON THE IMMINENT FISCAL REFORMS IN SA

Celebrating the launch of its regional office on the west coast of Mauritius, Temple Group conducted a workshop on the 2020 Tax Reforms in SA, emphasising the reforms announced in the recent budget speech, and the importance of choosing the correct processes for relocating oneself or a company outside of SA.

National Treasury Takes a view on Financial Emigration

NEWS | NATIONAL TREASURY TAKES A VIEW ON FINANCIAL EMIGRATION

South Africa Bleeding Skills Not surprisingly, there has been an outflow of South Africans in recent years for various reasons, a top reason being the punitive “expat tax” regime promulgated in December 2017, and effective 1 March 2020.

Budget speech 2020 – government last ditch attempt due to exodus of south africans

NEWS | BUDGET SPEECH 2020 – GOVERNMENT LAST DITCH ATTEMPT DUE TO EXODUS OF SOUTH AFRICANS

In December 2017, the change to the foreign employment income exemption was promulgated into law. This has widely become known as the “expat tax”. The exemption at that point was capped at R1mil, meaning that South African tax residents earning foreign employment income above this threshold would no longer be exempt from tax in South […]

Understanding South African Expat Tax

NEWS | UNDERSTANDING SOUTH AFRICAN EXPAT TAX

Amendments to the Income Tax Act will soon see all South Africans working outside the country’s borders contribute to the fiscus from 1 March.

Tax D-Day-is-here-SA-Expats-in-for-a-bumpy-ride-with-SARS-FE-website

NEWS | TAX D-DAY IS HERE: SA EXPATS IN FOR A BUMPY RIDE WITH SARS

South African legislation governing expatriate tax exemption is set to change dramatically from 1st March 2020, affecting South Africans worldwide. This includes anyone who has permanently settled in another country.

SOUTH-AFRICA’S-NEW-EXPAT-TAX-‘A-SCARE-TACTIC’-EXPERT-fe

NEWS | SOUTH AFRICA’S NEW EXPAT TAX ‘A SCARE TACTIC – EXPERT’

Thousands of South Africans will be impacted by new amendments to the Income Tax Act which will come into effect from 1 March 2020, says Nicolas Botha, a senior financial emigration specialist at Tax Consulting SA.

Expat tax countdown to implementation kicks off

NEWS | EXPAT TAX: COUNTDOWN TO IMPLEMENTATION KICKS OFF

An amendment to the Income Tax Act will bring considerable change to the expat landscape as from March 1, 2020. Jean du Toit and Jonty Leon are the technical editors of the publication “Expatriate Tax – South African Citizens Working Abroad and Foreigners in South Africa”.