Offshore Tax Exemption to be Reviewed
The controversial tax on income South Africans earn abroad and the R1 million exemption on it will be revisited during a special workshop between National Treasury and industry players in coming weeks.
Author Archive for: Financial Emigration
Entries by Financial Emigration
Countdown to the Commencement of the Amended South African Expatriate Tax Law
The announcement by National Treasury and SARS in 2017 that the tax exemption on South African expatriates is set to change, has resulted in the lifestyle of many South Africans, who are employed by companies abroad, to rapidly change from a South African tax liability point of view.
South Africans Abroad: Tax Requirements
The new expatriate tax law comes into effect 1 March 2020. However, many South Africans abroad believe that the law has not been legally amended and will thus not affect them. This belief is unfortunately incorrect, as the law change has been fully enacted. We have provided a concise breakdown of the tax law above […]
Tax Compliance For Expats
Financial Emigration or Double Taxation Agreement? Which suits your situation better? When it come to choosing Financial Emigration (FE) or a Double Taxation Agreement (DTA), expatriates must understand that there can never be a one-size-fits all approach.
Panic, Uncertainty about Expatriate Tax Law
Tax practitioners say their clients remain panicked and concerned about the ‘expat tax’, despite National Treasury adopting a relatively softer stance. “I see a lot of panic coming our way,” Bari Duvenhage, personal tax specialist at Regan van Rooy, told delegates at the Tax Indaba.
South Africans Abroad: Know your Tax Affairs
Incorrect information and advice from tax practitioners, or in some cases South African Revenue Service (SARS) officials, has resulted in the misunderstanding of complex South African expatriate tax legislation, which has landed many South African in deep water with SARS.
South Africans are emigrating abroad in record high numbers
According to experts operating within the field of emigration, South Africans are expected to break emigration records in 2018. Speaking to 702 Talk Radio, the manager at Financial Emigration, Jonty Leon, discussed the sharp spike in the number of South Africans looking to relocate abroad.
What is CRS and why should I care?
What is CRS and why should I care? Jurisdictions that have agreed to and signed the recently implemented “Common Reporting Standard” (CRS) are obligated to obtain pertinent financial information from their financial institutions and automatically exchange this with other jurisdictions on an annual basis. Put simply, if you are living in a jurisdiction that has […]
SARS Update – “Ordinarily Resident” – South Africans abroad, do you pass the test?
The term “ordinarily resident” is not defined in South African legislation but has been interpreted by South African courts for almost a century when dealing with tax law matters. The South African Revenue Service (“SARS”), in 2002, released an Interpretation Note (“IN3”) that assisted taxpayers in understanding the term, and which considered case law as […]
Deceased Estates – Inheritance planning for South Africans Abroad
A death of a family member is never a topic that is likely to be discussed nor a discussion that is wanted however a reality that one needs to prepare for in future. Preparing for such events is key for a smooth transition in the closure and pay-out of deceased estates and inheritances.
In the News
Do South African Expats Return Home for the Braais?29/05/2025 - 11:57
Project AmaBillions | Being abroad won’t save you from SARS’ collection efforts21/05/2025 - 15:49
Expats Among Millions of South Africans Tapping into Two Pot-Windfall10/05/2025 - 07:50
Important Tax Directive Updates from SARS will impact expats’ withdrawal of retirement interests12/04/2025 - 06:39
Don’t be misled: No waiting period for SA expats who want to cease tax residency25/03/2025 - 19:07