Don’t leave your heirs to handle your expat tax problems
For an expat to receive an inheritance from South Africa abroad, they need to be formally approved as non-tax resident by SARS.
For an expat to receive an inheritance from South Africa abroad, they need to be formally approved as non-tax resident by SARS.
Now that financial emigration no longer exists, there’s a new process to follow. Sable International explains everything you need to know.
Leaving SA? There are financial factors to consider to minimise tax liabilities. William Louw speaks to BizNews about how to navigate SA’s tax system.
Now, the government needs another way to determine whether a person has emigrated before they’re granted access to their retirement funds.
National Treasury is going ahead with a controversial plan to stop emigrants from withdrawing their pension money for at least three years.
There’s a change in SA retirement funding – rand-denominated ETFs with purely offshore investments are now grouped as ‘domestic’ not ‘foreign’.
The key change for expats is that financial emigration through the South African Reserve Bank (SARB) is to be phased out from next year.
Emigrating or investing offshore are tricky for South Africans because there are many legal complexities around your rights to invest and move your money wherever you please.
Many South Africans who have relocated abroad, or are thinking of doing so, are concerned about the change to the Income Tax Act in March 2020.
Some tax practitioners and financial advisors are saying that financial emigration is the only requirement to avoid the “expat tax”. We’re setting the record straight.