Latest South African Emigration News & Tax Insights

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...

Hand holding a South African passport, with a graphic asking: "South African Expats: Is your South African passport at risk?"

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...

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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...

Stacks of gold coins and a global network map, next to text about panic and uncertainty regarding expatriate tax law.

Panic, Uncertainty about Expatriate Tax Law

13/09/2018

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. She says expats are unsure how it will impact their...

South Africans Abroad: Know your Tax Affairs

24/08/2018

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. This has led to many expats being under the incorrect impression that their tax affairs...

Silhouette of a person with luggage looking at an airplane at an airport window. Text: South Africans are emigrating abroad.

South Africans are emigrating abroad in record high numbers

07/08/2018

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. Leon’s sentiments echo those shared by UK visa solutions specialists,...

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What is CRS and why should I care?

19/07/2018

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...

Hands painted with the South African flag raised against a blue sky, next to text about SARS 'ordinarily resident' rules and

SARS Update - "Ordinarily Resident" - South Africans abroad, do you pass the test?

12/07/2018

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...

Hand writing with a fountain pen on a document, advertising 'Deceased Estates Inheritance Planning for South Africans

Deceased Estates – Inheritance planning for South Africans Abroad

05/07/2018

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. Thousands of...

South African Expats - Is your South African Passport at Risk

26/06/2018

There appears a remarkable amount of misinformation flying about between South African expatriates abroad on when you can legally lose your South African passport. Is there any truth in that as a South African living and working abroad, you cease South African citizenship and must hand in your South African passport? Expatriate Tax Exemption Changed...

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LATEST NEWS

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

Panic, Uncertainty about Expatriate Tax Law

South Africans Abroad: Know your Tax Affairs

South Africans are emigrating abroad in record high numbers

What is CRS and why should I care?

SARS Update - "Ordinarily Resident" - South Africans abroad, do you pass the test?

Deceased Estates – Inheritance planning for South Africans Abroad

South African Expats - Is your South African Passport at Risk

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