Treasury moves to end ‘double dipping’ the TFSA and retirement fund tax exemptions
An anomaly in the Act results in the creation of two years of assessment during a single 12-month period when an individual ceases to be a tax resident.
Tax Residency
SARS pays back R10bn, but some taxpayers’ refunds are being withheld
Taxpayers should inform SARS if they have been unemployed for a full year or longer, to avoid being flagged as non-compliant.
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Two pots will add complexity to the tax treatment of retirement benefit withdrawals
Withdrawals from the savings and retirement pots will be taxed in different ways.
How tax residency affects your ability to receive an SA inheritance
The finalisation of a deceased estate is a time-consuming and frustrating process for South Africans. There is additional complexity and exasperation when one of the heirs is an expatriate. When you live outside […]
No more ‘double dipping’ when ceasing tax residency
National Treasury intends to close an anomaly in the Income Tax Act that enables individuals whose tax residency ceases to double dip into certain exemptions and exclusions, according to the 2022 Budget Review. […]
Three ways to tell you’re getting dodgy advice about tax residency
Access to information has become the saving grace for expatriates. However, with the advent of social media platforms came an accompanying surge of opportunistic advisers who unknowingly, and sometimes knowingly, mislead vulnerable expatriates […]
The new rules around citizenship, exchange control and tax residency: part 2
The concept of “emigration”, as recognised by the Financial Surveillance Department (FSD) of the South African Reserve Bank (SARB), has been phased out with effect from 1 March 2021. This has created even […]
The new rules around citizenship, exchange control and tax residency: part 2
The concept of “emigration”, as recognised by the Financial Surveillance Department (FSD) of the South African Reserve Bank (SARB), has been phased out with effect from 1 March 2021. This has created even […]
The new rules around citizenship, exchange control and tax residency: part 1
The concept of “emigration”, as recognised by the Financial Surveillance Department of the South African Reserve Bank (SARB), has been phased out with effect 1 March 2021. This has created even more confusion […]
The new rules around citizenship, exchange control and tax residency: part 1
The concept of “emigration”, as recognised by the Financial Surveillance Department of the South African Reserve Bank (SARB), has been phased out with effect 1 March 2021. This has created even more confusion […]
New way to inform Sars that tax residency has ceased
The SA Revenue Service (Sars) has introduced a new declaration form that can be used to inform it that a taxpayer has broken South African tax residency, says Daniel Baines, manager at PwC […]
Taxing times for would-be emigrants
If you thought that emigrating was just a case of “pack up your troubles in your old kit bag and smile, smile, smile”, you are likely to experience more than a grimace or […]
Taxing times for would-be emigrants
If you thought that emigrating was just a case of “pack up your troubles in your old kit bag and smile, smile, smile”, you are likely to experience more than a grimace or […]
