LATEST NEWS

Two cranes fly against a sky, illustrating a massive jump in South Africans applying to financially emigrate.

MASSIVE JUMP IN THE NUMBER OF SOUTH AFRICANS APPLYING TO FINANCIALLY EMIGRATE

07/06/2019

The number of people enquiring and actually going through with the process of financial emigration has “skyrocketed”, says Jonty Leon, legal manager at Financial Emigration. The main reason for this is the amendment to section 10 of the Income Tax Act – otherwise known as the expat exemption – which will come into effect from...

TAX FILING SEASON: DON’T MISS OUT ON YOUR TAX RETURN

05/06/2019

DON'T MISS OUT ON YOUR TAX RETURN Taxpayers earning less than R500 000 per annum from one employer in a single tax year are not required by SARS to file their tax returns. However, tax consultants advise that taxpayers should still file their returns if there is a chance they would get a tax refund....

FINANCIAL EMIGRATION – REQUIREMENTS AND MISCONCEPTIONS

28/05/2019

There is a lot of misinformation circling in the South African expatriate community about the amended expatriate tax law taking effect on 1 March 2020 and the process of Financial Emigration. We often have clients approach us where they have been subjected to scaremongering or solicited by “one-man” bands promoting their own agenda. These so-called...

SOUTH AFRICAN EXPAT TAX: YOUR QUESTIONS ANSWERED BY THE EXPERTS

22/05/2019

With South Africans who live or work abroad facing the imminent introduction of “expat tax”, there has been a lot of scaremongering and confusion. Recently the expert tax team at Tax Consulting South Africa kindly offered to answer SAPeople members’ questions. Here you will find a selection of the questions submitted and answers by Jerry...

Drought-stricken landscape with cracked earth, a dead tree, and text: 'EXPATS BRACE YOURSELVES, THE LEAN YEARS ARE COMING'.

Brace For The Expatriate Tax Exemption

07/03/2019

BRACE YOURSELVES, THE LEAN YEARS ARE COMING If there was any doubt amongst taxpayers, especially South Africans working abroad, National Treasury, on 6 March 2019, categorically confirmed that it is forging ahead with the implementation of the amended section 10(1)(o)(ii) (“the Expat Exemption”). Since the announcement that the Expat Exemption would be amended in 2017,...

Text 'OECD's Common Reporting Standard leaves no place to hide' next to a person typing on a laptop with a global network

Budget Speech 2019 – OECD’s Common Reporting Standard – Nowhere To Hide

21/02/2019

National Budget Speech – OECD’s Common Reporting Standard – Nowhere To Hide The Budget Speech is just one of the times where a tax attorney shows their worth. Instead of just reviewing the headlines, a tax attorney should be delving into the budget proposals, current policies and policy adjustments. The need for an in-depth review...

National Treasury opens door for discussions on expat tax, displayed with Financial Emigration branding and a formal meeting

National Treasury opens door for more discussions on expat tax

18/02/2019

National Treasury has invited key stakeholders to a workshop early next month to address continued concerns around the amended foreign income tax exemption. The change is set to become effective on 1 March 2020. In terms of the amended section of the Income Tax Act, South Africans working abroad will in future be taxed in...

Tax Residency and Financial Emigration: Everyone is an Expert

07/02/2019

Financial Emigration Ceases Tax and Exchange Control Residency The process of “Financial Emigration” terminates your tax residency status with the South African Revenue Service (“SARS”) as well as your status as exchange control resident with the South African Reserve Bank (“SARB”). The SARS process includes a verification or “audit” procedure, as financial emigration is not...

Offshore Tax Exemption to be Reviewed

28/01/2019

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. Several organisations and individuals submitted proposals at the end of November, to be considered during next month’s Budget to address concerns raised about...

Hourglass and globe next to text: Countdown to Amended South African Expatriate Tax Law by Financial Emigration.

Countdown to the Commencement of the Amended South African Expatriate Tax Law

15/01/2019

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. The legislative amendment, which will come into...

World map with gold coins tracing a path, illustrating global financial movement, accompanying an article on tax compliance

South Africans Abroad: Tax Requirements

04/12/2018

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

19/09/2018

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. Unfortunately, there is a lot of misinformation circulating in the South African expatriate community, perpetuated by service providers...

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LATEST NEWS

MASSIVE JUMP IN THE NUMBER OF SOUTH AFRICANS APPLYING TO FINANCIALLY EMIGRATE

TAX FILING SEASON: DON’T MISS OUT ON YOUR TAX RETURN

FINANCIAL EMIGRATION – REQUIREMENTS AND MISCONCEPTIONS

SOUTH AFRICAN EXPAT TAX: YOUR QUESTIONS ANSWERED BY THE EXPERTS

Brace For The Expatriate Tax Exemption

Budget Speech 2019 – OECD’s Common Reporting Standard – Nowhere To Hide

National Treasury opens door for more discussions on expat tax

Tax Residency and Financial Emigration: Everyone is an Expert

Offshore Tax Exemption to be Reviewed

Countdown to the Commencement of the Amended South African Expatriate Tax Law

South Africans Abroad: Tax Requirements

Tax Compliance For Expats

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