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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

The High Stakes of South African Expat Retirement Planning While planning and packing to move abroad may seem simple, many expatriates often wonder about what will happen to the fortune of their accumulated retirement funds. The questions on how to navigate the withdrawal of the different types of funds remain a difficult and confusing topic.

National Health Insurance’s impact on Emigration and the 10 steps of formal emigration The signing of the National Health Insurance (NHI) in South Africa has sparked a wave of concern among various South Africans, especially with medical professionals, medically high-risk individuals, and cautious taxpayers. This healthcare reform initiative promises to provide universal healthcare coverage to