Latest South African Emigration News & Tax Insights

Person using a smartphone with a location pin icon, suggesting GPS tracking or digital services.

SARS ATTACK ON SOUTH AFRICAN TAXPAYERS ABROAD

21/04/2021

Introduction of Automatic Exchange of Information The South African Revenue Service (SARS) has discovered R400bn in offshore holdings owned by South Africans and is on the rampage to collect all taxes that it is owed on these assets. This means that South Africans who are currently working abroad need to particularly take note and ensure...

Torn brown paper revealing the words 'EXIT TAX' typed in black on white paper.

FINANCIAL EMIGRATION AND THE CAPITAL GAINS TAX ‘PARTING GIFT’ TO SARS

19/04/2021

South Africans who are already living abroad but have not yet properly financially emigrated need to be aware of the major benefits of taking the important step of ceasing tax residency to get their tax affairs in order with the SA Revenue Service (SARS). In reality, many citizens living abroad are not familiar with the...

Row of gleaming golden piggy banks, signifying savings and financial growth, against a dark, reflective background.

EXPATS CAN CASH IN RETIREMENT ANNUITIES TO HEDGE AGAINST VOLATILE RAND

15/04/2021

South Africans living abroad who have not yet financially emigrated and cashed in their retirement annuity savings are concerned about the volatile rand exchange rate. Tax Consulting SA expatriate tax specialist Victoria Lancefield said expats living in a range of countries from the United Kingdom, Ireland and the Netherlands to Portugal, France, Bermuda, China, Australia,...

Hand moving a chess pawn on a network board with a highlighted strategic path, symbolizing complex planning.

WHAT EMIGRATING TAXPAYERS NEED TO KNOW IN 2021

15/04/2021

South Africans emigrating to greener pastures may be prevented from leaving the country - or worse - if their application for tax clearance is denied by SARS. Recent changes to expatriate tax procedures and SARS’ dramatically improved auditing capabilities mean the exit process is more stringent than ever. So, taxpayers must ensure they are fully...

A clear glass globe with frosted continents stands on a reflective surface, surrounded by stacks of silver coins.

FINANCIAL EMIGRATION REMAINS THE CLEANEST ROUTE OUT OF SOUTH AFRICA

29/03/2021

The process of financial emigration, which is the process that allows a taxpayer to formally place themselves on record as a non-resident for tax purposes with the South African Revenue Service (SARS), recently changed and came into effect on 1 March 2021. Jonty Leon, Legal Manager (Expatriate Tax) at Tax Consulting South Africa, says the...

A glowing light bulb next to increasing stacks of silver coins on a wooden surface, symbolizing financial ideas and growth.

THE NEW FINANCIAL EMIGRATION ANNOUNCED BY SARB

01/03/2021

Financial emigration is the process used by many South Africans abroad to formalise their non-resident status for both tax and exchange control purposes, and which is set to be amended, as mentioned a year ago in Budget 2020, and come into effect on 1 March 2021. Since the initial announcement, there has been zero public...

Antique bronze keyhole on a dark, textured background, symbolizing a financial lock-in or restriction.

PRESIDENT RAMAPHOSA SIGNS 3 YEAR RETIREMENT FUND LOCK-IN INTO LAW

28/01/2021

The President, on 15 January 2021, assented to the Taxation Laws Amendment Act No. 23 of 2020 (“TLAA”), which was subsequently promulgated on 20 January 2021. Despite the blow back last year on the proposed amendment to the withdrawal of retirement funding in SA based on emigration, this amendment has now been signed into law...

Person writing on a document, with a gavel and legal books on a desk, suggesting legal work or tax legislation.

RELIEF FOR EXPATS CONFIRMED WITH PROMULGATION OF TAX LEGISLATION

28/01/2021

South African expatriates have been kept in suspense regarding a proposed law change aimed at providing relief to those who could not leave the country under lockdown. This amendment was confirmed with the promulgation of the Taxation Laws Amendment Act No. 23 of 2020 (“TLAA”) on 20 January 2021, which means these expatriates can now...

Close-up of a gold fountain pen writing a black ink signature or flourish on crisp white paper.

2020 TAX PROPOSALS SIGNED INTO LAW – 10 KEY CHANGES

26/01/2021

10 KEY CHANGES The President has given effect to the 2020 tax proposals by signing three tax Acts into law. On 15 January 2021, the President gave his assent to the Rates and Monetary Amounts and Amendment of Revenue Laws Act No. 22 of 2020 (“Rates Act”), the Taxation Laws Amendment Act No. 23 of...

Magnifying glass on a stack of financial documents secured with binder clips, symbolizing audit or investigation.

SARS IS AWARE OF YOUR OFFSHORE ASSETS

20/01/2021

The days where SARS shuts its eyes to taxpayers’ offshore holdings are thing of the past. SARS is finally utilising the Automatic Exchange of Information regime to pin down taxpayers who have not disclosed their offshore interests and numerous taxpayers have already received some alarming notices to this effect. The notice The notice informs the...

Man in suit examining a document with a magnifying glass, symbolizing audit, tax compliance, or financial review.

LAST CHANCE FOR SA EXPATRIATES TO COME CLEAN WITH SARS

12/01/2021

South Africans living or working abroad can no longer avoid the long arm of SARS. Under pressure to meet its revenue quotas, the tax authority has started auditing the country’s non-compliant expatriates in earnest. “We have been warning expatriates that this was coming and now that it’s here, the time for hiding one’s head in...

Alarm clock surrounded by stacks of coins, symbolizing time, financial planning, and retirement savings.

MARCH 2021 A WATERSHED FOR RETIREMENT FUNDS IN SOUTH AFRICA: 5 THINGS YOU NEED TO KNOW

22/12/2020

5 THINGS YOU NEED TO KNOW 1 March 2021 marks a watershed for retirement funds in South Africa, says Jean du Toit, attorney and head of tax technical at Tax Consulting South Africa. Most are focussed on the annuitisation rules that have been pending since 1 March 2015, otherwise known as ‘T-day’. While these reforms...

Cookie	Duration	Description
cookielawinfo-checkbox-analytics	11 months	This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional	11 months	The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary	11 months	This cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others	11 months	This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance	11 months	This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy	11 months	The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.

LATEST NEWS

SARS ATTACK ON SOUTH AFRICAN TAXPAYERS ABROAD

FINANCIAL EMIGRATION AND THE CAPITAL GAINS TAX ‘PARTING GIFT’ TO SARS

EXPATS CAN CASH IN RETIREMENT ANNUITIES TO HEDGE AGAINST VOLATILE RAND

WHAT EMIGRATING TAXPAYERS NEED TO KNOW IN 2021

FINANCIAL EMIGRATION REMAINS THE CLEANEST ROUTE OUT OF SOUTH AFRICA

THE NEW FINANCIAL EMIGRATION ANNOUNCED BY SARB

PRESIDENT RAMAPHOSA SIGNS 3 YEAR RETIREMENT FUND LOCK-IN INTO LAW

RELIEF FOR EXPATS CONFIRMED WITH PROMULGATION OF TAX LEGISLATION

2020 TAX PROPOSALS SIGNED INTO LAW – 10 KEY CHANGES

SARS IS AWARE OF YOUR OFFSHORE ASSETS

LAST CHANCE FOR SA EXPATRIATES TO COME CLEAN WITH SARS

MARCH 2021 A WATERSHED FOR RETIREMENT FUNDS IN SOUTH AFRICA: 5 THINGS YOU NEED TO KNOW

Find Us

Contact Details

In the News

LATEST NEWS

Find Us

Contact Details

In the News

This Website Uses Cookies