Three years that matter: emigration and access to retirement funds
The three-year countdown starts only when SARS formally recognises you as a non-resident – a difference of months can affect access and tax outcomes.
Emigration
The lowdown on living annuity income payments to foreign bank accounts
Whether living annuity income can be paid into your foreign bank account will depend on your tax residency, the Sarb and Sars requirements, and your insurer’s processing procedures.
New tax clearance process for emigration and remittance of funds abroad
‘The new process comes down to more detailed and targeted requests for information regarding exit capital.’
Monday briefing: a round-up of recent financial services news
Ruling on written-off car | Grid failure exclusions | Residential solar CoC | Coronation judgment implications | Grey-listing risk
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.
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 […]
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 […]
Retirement funds and emigration – Update on amendments
Towards the end of July 2020, National Treasury published the Draft Taxation Laws Amendment Bill, 2020. One of the proposals relates to an overhaul of the rule for taking retirement funds abroad. In […]
Update on phasing out of financial emigration – Three-year limit to be introduced
Towards the end of July 2020, National Treasury published the Draft Taxation Laws Amendment Bill, 2020 (Draft Tax Bill). One of the proposals of the Draft Tax Bill relates to an overhaul of the […]
