When the client moves offshore, the insurance doesn’t have to
Cross-border clients can create complex insurance challenges – from foreign-currency liabilities and estate duty to tax residency, beneficiaries, and offshore compliance.
#taxresidency
New AI tool helps untangle rules for moving money abroad
The Institute for International Tax and Finance says Clara can indicate when SARS approval may be required and which supporting documents users may need.
Document checklist falls short in retirement fund withdrawal dispute
The Tribunal found that evidence of tax non-residence must be assessed against the legislation, with clear reasons given when it is considered insufficient.
Draft tax bills target spousal donations and VDP interest relief
Treasury wants to close what it sees as a tax-avoidance route involving emigrating spouses, while proposing a taxpayer-friendly change to voluntary disclosures.
Budget’s retirement threshold changes in effect despite legislative omission
IRFA also sets out how exit withdrawals now work when a member resigns and has already withdrawn from the savings component in the tax year.
Why using the correct IRP5 source code matters for SA expats
Incorrect source codes trigger unnecessary tax for hundreds of expatriates. The result is lost refunds or large tax bills.
Navigating double taxation agreements in retirement planning
DTAs shape the taxation of lump sums and annuities. This is what financial advisers can do to preserve clients’ retirement benefits.
Not understanding tax residency may result in significant tax liabilities
You can break tax residency via the SARS tax emigration process or annually via the application of a double taxation agreement.
