It is essential that South Africans cease thier tax residency before they move abroad.
Taxpayers must not assume they have left the South African tax system behind just because they have left the country, says Danielle Luwes, a tax manager at Hobbs Sinclair.
“It’s important to take the necessary steps to ensure that you are no longer considered a tax resident when you take up residence in a foreign country,” she added. She stated, however, that some exceptions may apply; for example, a taxpayer will not be liable for capital tax on their South African property assets, including their personal home.
Following this, once the taxpayer is considered a non-tax resident, they will only be liable for South African taxes on domestic-sourced income.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
South Africans Await Go Ahead to Get ARVs Without Doctor's ScriptIn August 2021, the South African Pharmacy Council (SAPC) published legislation in the Government Gazette to enable pharmacists to prescribe and dispense antiretroviral medicines (ART) for the treatment and prevention of HIV. The initiative, known as Pharmacist-Initiated Management of ART, or PIMART, aims to address the low rates of uptake of ART prophylactic treatment in South Africa and close the gap between the numbers of people diagnosed with HIV and those initiated onto treatment, reports Catherine Tomlinson for Spotlight. Yet, almost two years after the legislation was published, pharmacists remain unable to initiate ART in South Africa. This is because a legal challenge has been brought against the PIMART legislation and its introduction by the Independent Practitioners Association (IPA) Foundation. PIMART aims to expand uptake of PrEP by allowing pharmacists to prescribe and dispense PrEP, which is taken as a daily tablet, without requiring that people first attend and pay for a doctor's visit and script or first have to visit a public sector clinic. PrEP is available free of charge in designated public sector healthcare facilities. PrEP, which can be used on an ongoing basis for long-term protection or over an anticipated period of risky sexual behaviour, is highly effective in preventing HIV. Yet, use of PrEP in South Africa remains extremely low despite the ongoing high rates of new HIV infections in the country.
Read more »
Unemployment a top worry for South Africans: surveyUnemployment a top worry for South Africans: survey: As the country grapples with joblessness and slow economic growth, the Ipsos What Worries the World survey shows almost 70% of South Africans cited unemployment as their top concern.
Read more »
Unemployment a top worry for South Africans: surveyAs the country grapples with joblessness and slow economic growth, the Ipsos What Worries the World survey shows almost 70% of South Africans cited unemployment as their top concern.
Read more »
Unemployment a top worry for South Africans: surveyAs the country grapples with joblessness and slow economic growth, the Ipsos What Worries the World survey shows almost 70% of South Africans cited unemployment as their top concern.
Read more »
Unemployment a top worry for South Africans: surveyAs the country grapples with joblessness and slow economic growth, the Ipsos What Worries the World survey shows almost 70% of South Africans cited unemployment as their top concern.
Read more »
Make sure your car and home insurance is on track | The CitizenSPONSORED: 📃🚗🏡 It's important to take time to review your insurance plan regularly. Make sure your car and home insurance are on track and suitable to your needs. DiscoveryInsure Get the details here ⬇️
Read more »