Expats Among Millions of South Africans Tapping into Two Pot-Windfall
Only two months into the new tax year, many South Africans have again dipped into their retirement fund Savings Pot, after also making a withdrawal in the previous six months.
Entries by dta-admin
Important Tax Directive Updates from SARS will impact expats’ withdrawal of retirement interests
On 8 April 2025, the South African Revenue Service (SARS) announced a set of updates on tax directive system changes which will impact South Africans who have already left the country or are in the process of cutting tax ties. This will come into full force on 11 April 2025.
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 to the tax levied as per SARS’ Tax Tables.
Don’t be misled: No waiting period for SA expats who want to cease tax residency
Many South African expatriates have unknowingly missed out on paying lower taxes in South Africa for years while living abroad, due to confusing or misguided advice that they must reside outside the country for a number of years before officially ceasing tax residency in South Africa.
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 are questioning whether now is the right time to move their […]
2025 Budget Speech: August House Adjourned – Is it time to make the move?
The unexpected postponement of the 2025 Budget is causing endless speculation as well as heightened unease and uncertainty among business owners, investors as well as South African taxpayers about what the immediate future holds. Maybe even more so for South African expatriates who have moved abroad and those considering relocating to another country, as the […]
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 ensure more jobs are filled by Saudi and UAE nationals.
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 Revenue Service (SARS) wants to know the finer details of when […]
5 Common Misconceptions That Expats Must Know About
What is a Double Taxation Agreement (“DTA”)? A DTA is a legal and binding bi-lateral treaty between two countries that specifies which country’s tax authority holds the right to tax you on your earnings. In other words, where you are tax resident in one country and earning income in another, a DTA will determine taxing […]