Section 35 A provides that a person (the purchaser) or his estate agent or the conveyancer must withhold from the amount that is due to a non-resident seller, a so-called advance tax. This is only applicable if the sale price…
As a South African Resident, a person is permitted to transfer a maximum amount of R2 Million rand per person or R 4 Million per family, as a once off payment without having to obtain any clearance from the South…
Tax in South Africa As the tax status of South African residents and non-residents may differ, it is important for an employee to determine his/her status. Two separate tests are applied to determine whether or not a person is a…
The question is asked: “Why do more and more people who wish to sell a property contact their tax consultant, before contacting an estate agent?” The answer to this question is that they want to know how much their capital…
Exchange control 1 As an individual on temporary assignment in South Africa you are treated as a non-resident for exchange controls purposes but afforded “contract worker” status. This means that you are allowed to open bank accounts and purchase property in…