Latest South African Emigration News & Tax Insights

A hand in a suit jacket presses an official stamp onto a document, symbolizing government approval or certification.

SOUTH AFRICAN GOVERNMENT ISSUED CERTIFICATES 101: WHAT YOU NEED TO KNOW

04/11/2020

The protracted lockdown in South Africa resulted in the Department of Home Affairs (“DHA”) offering limited emergency services. South African citizens and permanent residents seeking Civic Services such as unabridged birth and marriage certificates were left frustrated as existing applications were indefinitely delayed. Even now that Civic Services have resumed post-lockdown, the backlog has created...

Hand moving a white chess king on a chessboard, symbolizing strategic decision-making and careful planning.

TREASURY AND SARS OUTLINE NEW TAX CHANGES FOR SOUTH AFRICA

16/10/2020

National Treasury has responded to some of the key changes proposed in its Draft Tax Law Amendment Bill (TLAB) and Draft Tax Administration Laws Amendment Bill (Draft TALAB) – including questions around emigration and harsher punishments for taxpayers. Treasury was responding to submissions on the new bills alongside the South African Revenue Service (SARS) in...

Hand stopping falling wooden dominoes, symbolizing timely tax relief preventing a cascading financial crisis for expatriates.

UNEXPECTED TAX RELIEF FOR EXPATRIATES “STUCK” IN SOUTH AFRICA

14/10/2020

South African expatriates who were unable to leave South Africa on account of the lockdown will be relieved to learn that the requirements of the foreign employment exemption (Section10(1)(o)(ii)) will be relaxed. On 13 October 2020, National Treasury and SARS published their draft Response Document on the latest tax Bills, wherein the unexpected proposal was...

Vintage bronze alarm clock with Roman numerals on a wooden surface, showing 6:30, against a dark background.

NATIONAL TREASURY CONFIRMS EMIGRANT RETIREMENT 3 YEAR CAPTURE

14/10/2020

South Africans who have emigrated or plan to permanently leave South Africa have until 28 February 2021, just over four months from now, to effect financial emigration. National Treasury has laid down the new law and made it clear - the consequence otherwise is your retirement money will be locked in for three years, you...

Person in grey suit and red tie signing or reviewing a document with a silver pen.

ON A KNIFE-EDGE: SARS’ FOCUS ON EXPATRIATES THIS FILING SEASON

13/10/2020

This year has been a journey into unchartered waters for us all, and a particularly tense time as far as South African expatriates are concerned. For many expats, more and more questions have been left unanswered as this filing season, and the current tax year begins to draw to a close. One thing, however, is...

A clear glass jar containing a collection of various coins, symbolizing savings or a financial fund.

VERDICT ON RETIREMENT FUND WITHDRAWAL COMING SOON

12/10/2020

The time for South Africans who consider emigrating to learn their fate around their pensions is drawing closer. We have come a long way since publication of the draft tax Bills on 31 July this year, and on 7 October 2020, the Standing Committee on Finance (“the Committee”) heard oral submissions on the proposed tax...

A dark green South African passport, open slightly, resting on a vintage brown suitcase. The coat of arms is visible.

WARNING OVER GOVERNMENT’S PLANS TO CHANGE SOUTH AFRICA’S EMIGRATION RULES

09/10/2020

A number of tax and financial groups have issued warnings over a new draft bill which will introduce changes for South Africans looking to take their retirement funds out of the country. Under the current system, members of preservation funds and retirement annuity funds may withdraw from such funds if they formally emigrate from South...

Blindfolded Lady Justice statue holding scales against a plain background, symbolizing law and fairness.

EXPATS WHO DEREGISTER TO AVOID TAX WILL PAY MORE IN THE END

10/09/2020

“Expats who follow shady advice to deregister as taxpayers with SARS will suffer in the long run,” says Jonty Leon, Legal Manager (Expatriate Tax) at Tax Consulting SA. This follows reports that some tax advisors are directing their expatriate clients to deregister with SARS to avoid paying tax on their non-exempt foreign income. According to...

Close-up of a rusty, antique safe dial with numbers 30, 40, 50, and part of 'LEFT' visible.

NEW TAX BILLS – A STEP CLOSER TO RETIREMENT REFORM IN SA AND IMMEDIATE 3-YEAR LOCKUP

17/08/2020

A STEP CLOSER TO RETIREMENT REFORM IN SA AND IMMEDIATE 3-YEAR LOCKUP The draft Taxation Laws Amendment Bill (“TLAB”) was published on 31 July 2020. As announced in the Budget Speech, any South African leaving in future will be subject to a much stricter process from 1 March 2021 onwards. But there was also a...

Close-up of a hand typing on a laptop keyboard.

THINK TWICE BEFORE ACCEPTING YOUR SARS AUTO-ASSESSMENT

13/08/2020

SARS’ announcement that it has started auto-assessing certain taxpayers may lead some people to believe they no longer need to worry about their tax submissions. This is not the case, according to Thamsanqa Msiza, Head of Individual Tax Returns at Tax Consulting South Africa. “The onus still lies with the taxpayer to ensure all information...

Wooden judge's gavel with a brass band resting on its matching sound block on a light wooden surface.

NEW TAX BILLS IMPOSE STRICTER RULES TO TAKE RETIREMENT FUNDS ABROAD

06/08/2020

The draft Taxation Laws Amendment Bill (“TLAB”) was published on 31 July 2020 and with it comes an overhaul of the regime for taking your retirement funds abroad. In terms of the proposed amendments, expatriation of these benefits will be subject to a much stricter process from 1 March 2021 onwards. Current position Under the...

Gold chess queen stands on a chessboard, with blurred silver chess pieces in the background, symbolizing strategy and

NATIONAL TREASURY SEEKS MUCH MORE BITE FOR SARS ON CRIMINAL TAX OFFENCES

05/08/2020

FOR SARS ON CRIMINAL TAX OFFENSES The new Draft Tax Administration Laws Amendment Bill (“TALAB”), released on 31 July 2020, proposes a law change that will effectively lower the threshold for SARS and the National Prosecuting Authority (NPA) to criminally prosecute taxpayers. The Proposed Amendment The proposed amendment is directed at paragraph 30 of the...

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LATEST NEWS

SOUTH AFRICAN GOVERNMENT ISSUED CERTIFICATES 101: WHAT YOU NEED TO KNOW

TREASURY AND SARS OUTLINE NEW TAX CHANGES FOR SOUTH AFRICA

UNEXPECTED TAX RELIEF FOR EXPATRIATES “STUCK” IN SOUTH AFRICA

NATIONAL TREASURY CONFIRMS EMIGRANT RETIREMENT 3 YEAR CAPTURE

ON A KNIFE-EDGE: SARS’ FOCUS ON EXPATRIATES THIS FILING SEASON

VERDICT ON RETIREMENT FUND WITHDRAWAL COMING SOON

WARNING OVER GOVERNMENT’S PLANS TO CHANGE SOUTH AFRICA’S EMIGRATION RULES

EXPATS WHO DEREGISTER TO AVOID TAX WILL PAY MORE IN THE END

NEW TAX BILLS – A STEP CLOSER TO RETIREMENT REFORM IN SA AND IMMEDIATE 3-YEAR LOCKUP

THINK TWICE BEFORE ACCEPTING YOUR SARS AUTO-ASSESSMENT

NEW TAX BILLS IMPOSE STRICTER RULES TO TAKE RETIREMENT FUNDS ABROAD

NATIONAL TREASURY SEEKS MUCH MORE BITE FOR SARS ON CRIMINAL TAX OFFENCES

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