LATEST NEWS

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Meddling in Others’ Affairs: The Department of Home Affairs’ “Tax Policy” Amendment

19/02/2024

The Department of Home Affairs’ (the DHA) recent amendments to Immigration Regulations are likely to spark controversy among South African taxpayers, especially expatriates working abroad, who are still diligently fulfilling their South African tax obligations. Delano Abdoll Legal Manager: Cross-Border Taxation at Tax Consulting Bronwin Human Tax Attorney at Tax Consulting SA These amendments, which...

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Tax Planning for Repatriation: A Non-Resident’s Toolkit to Returning Home

14/02/2024

With the euphoria of living abroad wearing off for many South Africans, a growing number of expatriates are drawn back by the allure of a vibrant cultural scene, inviting temperate climate, and favorable exchange rates. Delano Abdoll Legal Manager: Cross-Border Taxation at Tax Consulting SA Khutso Makgoka Legal Consultant: Expatriate Tax at Tax Consulting SA...

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A Letter to the Taxman: Breaking Tax Ties

08/02/2024

As South Africans embark on a journey beyond our borders, the need to inform the South African Revenue Service (“SARS”) about one’s emigration is crucial for peace of mind. Khutso Makgoka Legal Consultant, Expatriate Tax A casual note to the taxman bidding South Africa farewell is not enough, it is imperative to understand that a...

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Non-Residency and Assets – What You Need to Know

29/01/2024

Taking the leap and ceasing your tax residency is a big step for many South Africans, who are already under the strains of their physical move abroad. This stress often leaves one in a period of limbo wondering about their assets and what happens to these hard-earned investments, properties, policies and portfolios, to name a...

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Navigating Financial Emigration: A Tax-Centric Approach for High-Net-Worth South Africans Abroad

24/01/2024

In the shimmering tapestry of expatriate life, High-Net-Worth South Africans find themselves crafting stories of success on foreign soils. Amidst the allure of international opportunities, an often overlooked chapter in their expatriate journey involves the intricate dance with tax implications rather than the broader theme of emigration. As these individuals seek financial optimization, the spotlight...

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Navigating the Return: Key Considerations for Expatriates Heading Back to South Africa

11/01/2024

In the dynamic landscape of 2024, a growing number of South Africans who once left our local shores are now contemplating a return to their roots. The world has evolved significantly over the past few years, prompting many to reassess their choices. Michelle Phillips Tax Attorney For those considering the move back to South Africa,...

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Exit with Confidence: A Roadmap and Financial Strategy When Emigrating

01/12/2023

In the wake of the global skills shortage, South Africans are finding themselves in high demand globally, prompting many to contemplate a life abroad. However, this decision demands careful consideration and necessitates a meticulously planned roadmap and exit strategy. As a growing number of individuals embark on this international adventure, the heightened focus of the...

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Exchange Control and Tax Residency in South Africa

24/11/2023

The South African Reserve Bank (SARB), in collaboration with various financial institutions, maintains a comprehensive record of the residency status of all South African banking customers. Lovemore Ndlovu Head of SARB Engagement and Expatriate Compliance This practice is integral to their financial surveillance and regulatory compliance efforts, particularly considering South Africa's greylisting status in February...

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Navigating Tax Residency: A Guide for South African Expats

18/11/2023

For South Africans who have ceased their tax residency, unlocking one’s retirement savings becomes a nuanced journey filled with complexity and uncertainty. Khutso Makgoka Legal Consultant: Expatriate Tax, Admitted Attorney Legislative and procedural changes over the years have left expats puzzled about the requirements and processes for post-cessation encashment and remittance of those funds abroad....

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Further Changes to the Approval for International Transfer Process

01/11/2023

On 24 April 2023, the South African Revenue Service (SARS) released new enhancements to the Tax Compliance Status (TCS) process, with immediate effect. The changes made by SARS mainly concerned the approvals required by individuals when transferring funds out of South Africa. Now, SARS has made further changes – but what are these changes, and...

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Do my retirement funds come with me when I leave South Africa?

26/10/2023

For those looking to move from South Africa, a burning question often remains: what happens to their hard-earned retirement funds? How, and when, will they be able to withdraw their retirement interests in South Africa; and of course, where will these be taxed? Lambert Roberts Expatriate Tax Team Manager With our recent trip to the...

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The 3 year lock up rule misconception – What South Africans abroad need to know

27/09/2023

Expatriates are often under the impression that they need to wait three years before they can formalise their non-residency status. This can be due to various reasons such as misunderstanding the legislative amendments, advisors wanting to monetize on the withdrawal of these retirement funds and the subsequent remittance offshore or lack of professional guidance. 3-year...

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LATEST NEWS

Meddling in Others’ Affairs: The Department of Home Affairs’ “Tax Policy” Amendment

Tax Planning for Repatriation: A Non-Resident’s Toolkit to Returning Home

A Letter to the Taxman: Breaking Tax Ties

Non-Residency and Assets – What You Need to Know

Navigating Financial Emigration: A Tax-Centric Approach for High-Net-Worth South Africans Abroad

Navigating the Return: Key Considerations for Expatriates Heading Back to South Africa

Exit with Confidence: A Roadmap and Financial Strategy When Emigrating

Exchange Control and Tax Residency in South Africa

Navigating Tax Residency: A Guide for South African Expats

Further Changes to the Approval for International Transfer Process

Do my retirement funds come with me when I leave South Africa?

The 3 year lock up rule misconception – What South Africans abroad need to know

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