The determination of whether an individual ceases to be a tax resident in South Africa is based on the manner in which such an individual has been a tax resident in South Africa. If the taxpayer has been an ordinary…
There are different tax rules for South Africans working abroad on land and those out on the sea (oil rigs, etc.). Section 10(1)(o)(ii) applies to people working on land and section 10(1)(o)(i) to people working on boats, oil rig, etc….
National Treasury has changed the provision in the tax law that exempts South African tax residents from paying tax on income from foreign employment. Currently, anyone who renders services outside of South Africa for more than 183 days in a…
Tax returns for 2017 tax year that ended 28 February 2017, could be submitted from 1 July 2017. Taxpayers have time until November 2017 to submit it. South Africans that live and work abroad and who are only maybe once…
Income Tax: Notice to Furnish Returns for the 2011 Year of Assessment 1. Notice is hereby given in terms of section 66(1) of the Income Tax Act, 1962 (Act No. 58 of 1962) (“the Act”), that every person who…
I would like to share a contribution I have made to the Car Insurance Blog earlier today! The Car Insurance Blog is a Blog developed with the intention to create awareness of why it is important to ensure your car –…
The question is asked: “Why do more and more foreigners wishing to sell their South African property contact a tax consultant, before contacting an estate agent?” The answer to this question is that they want to know how much…
Tax Clearance Certificates – Foreign Investments by South Africans 1) Foreign Capital Allowance a) Individuals, older than 18 years, in good standing with SARS, may invest R2 Million (previously R750 000) abroad during their lifetime. b) Income accruing thereon…
Why use a “non-resident” consultant? The South African Reserve Bank has stringent exchange control regulations relating to the purchase by non-residents of property in South Africa. The “non-resident” consultant can assist the international purchaser in smoothing the financial process at…
An allowance is available in respect of new commercial buildings or improvements to existing buildings. The allowance is equal to 5% of the cost to the taxpayer of any new and unused building owned by the taxpayer if that…