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Understanding South Africa’s Exit Tax and the Proposed Tax on Retirement Interests A misunderstanding of certain sections in the Income Tax Act has many South Africans who moved abroad and ceased tax residency, worried that they will also be liable to pay Capital Gains Tax (CGT) on the withdrawal of their retirement funds, in addition […]

Talk of a Wealth Tax in South Africa is just not going away The ever-present talk of imposing a wealth tax on South Africans as a source of revenue has resurfaced after National Treasury’s plan to collect an additional R58 billion mainly from higher VAT in the 2025/26 financial year, was stopped in its tracks

South Africa’s Financial Future in Limbo – Should You Exit Now? The initial disbelief and shock on the postponement of the 2025 Budget Speech may have made way for cooler heads and the hope that more deliberations will deliver better budget outcomes for vulnerable citizens and a platform for economic growth, but many South Africans

Saudi’s national employment targets leave many South African expatriates high and dry South Africans are among a growing number of global expatriates in Saudi Arabia and the United Arab Emirates (UAE) who are forced to return home due to strict local employment targets.  Commonly known as Saudization and Emiratisation, these policies aim to increase and

Returning to South Africa? SARS is Waiting for Expats Coming Home Be it the call of South Africa’s pleasant weather, a desire to raise a family close to parents, or retiring to the high-life, many thousands of South African expats elect to return home every year. No matter the reasons for repatriation, the South African

Leaving South Africa: know the difference between Financial Emigration and Physical Emigration With almost 1 million South Africans who have moved abroad to start a new life overseas in the last two decades, it is clear emigration is top of mind for many. According to the latest available data, more than 120,000 South Africans left

All must be in order with the Tax Man to ensure you can smoothly transfer funds overseas An unsuspecting taxpayer recently faced a dilemma when he had to transfer money overseas, but found SARS had cancelled his Tax Compliance Status (TCS) PIN approval, a critical component for taxpayers who need to transfer funds internationally or

Worried about your assets when you break tax ties with South Africa, here are some tips. We all want to protect our assets best we can, but just know that the Tax Man is always watching. For South Africans who are leaving to live overseas, it is not just a question of pack up and

Understanding and Changing Your Tax Residency Status in South Africa South Africans who have settled in other countries may not be aware that a change in tax residency is not automatic. As a result, these expatriates fail to notify the South African Revenue Service (SARS) of their tax status change, thereby remaining a resident of

Avoid nasty tax surprises by checking your tax residency status with SARS South Africans working and residing overseas, even those who left the sunny shores decades ago, may find they are literally not on the same page as the South African Revenue Service (SARS) when it comes to their tax residency status, and that can