A reader asks whether the tax on his retirement savings is calculated on the fund's value at emigration or withdrawal.
A reader asks if the tax on his retirement savings is calculated on the fund’s value at emigration or withdrawalI emigrated from South Africa in August 2021. I am recognised by the South African Revenue Service as a tax nonresident with effect from my date of emigration.
Is the tax upon withdrawal calculated with reference to the fund value as at my emigration date with interest charged to withdrawal date, or is it calculated based on the fund value as at withdrawal date?
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