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Ceasing of South African Tax Residency: A Back-to-Basics Approach Deciding to emigrate is a profound financial decision that goes far beyond simply pointing to a location on a map. It demands thoughtful consideration and meticulous planning to determine why you are choosing a particular country as your new home. The process of adjusting to a […]

Timing Is Everything For SA Expatriates When It Comes To Two-Pot System Withdrawals South African expatriates considering an early withdrawal from their retirement savings in South Africa now that the new Two-Pot Retirement system is in place, should get their timing right. There is now a golden window to access your retirement funding and especially

South African Expats: How Will SARS Find You? In an exciting recent development, National Treasury published a set of draft Tax and Revenue Law Amendment Bills, together with accompanying Explanatory Memorandums thereto, for public comment. These draft Bills contained a host of robust proposed changes to tighten certain loopholes and inconsistencies in South Africa’s tax

Foreign Tax Credits – Welcome Surprise or Snare for Wealthy South African Taxpayers? In an exciting recent development, National Treasury published a set of draft Tax and Revenue Law Amendment Bills, together with accompanying Explanatory Memorandums thereto, for public comment. These draft Bills contained a host of robust proposed changes to tighten certain loopholes and

SARS Non-Residency Verification Risk For Expats Filing 2024 Tax Returns As a South African living abroad, you might assume that your tax affairs are in order. However, recent changes by the South African Revenue Service (SARS) require immediate attention to your non-resident tax status. Before submitting your 2024 tax return, it is crucial to ensure

Navigating Last-Minute Changes for Expats: A Guide to the Two-Pot Retirement System Proposed amendments to the Income Tax Act concerning the two-pot retirement system, were announced by Treasury on 1 August 2024. Coming just a month before the system’s scheduled implementation, these changes have introduced additional considerations for those South Africans living abroad. Expatriates must

MAINTAINING SOUTH AFRICAN BANK ACCOUNTS AND FINANCIAL TIES AFTER EMIGRATION Exchange Control Perplexity South Africans who have taken the leap to finalise their cessation of tax residency often overlook the banking regulations and financial consequences that may follow. Understanding these concepts is crucial to ensuring that you remain fully compliant as a non-resident taxpayer and

National Health Insurance Impact Survey – Taxpayers Speak Up President Ramaphosa’s signature to introduce National Health Insurance (NHI) on 15 May 2024 has been met with mixed reactions. The three elephants in the room are, who will foot the bill, will all doctors and healthcare workers now work directly for the government, and will all

Navigating South Africa’s NHI Bill: The Rise of Investment Migration for Health Security and Global Mobility The approval of the controversial National Health Insurance (NHI) Bill in South Africa has sparked significant concern across various segments of the population. Medical professionals are apprehensive about potential mandates to work for the government, families with at-risk members

SARS eFiling False Alarm – No Need for a Return to South Africa We have noted incorrect media coverage around South Africans abroad, which notes that to comply with “new” SARS obligations you need to be physically present in South Africa. It is then implied that this change on SARS eFiling then burdens taxpayers to