How foreign employment income tax will impact South African expats

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Do not believe the fear mongers suggesting you must emigrate formally to correct non-compliance.

Read more in The South Africa NewsPaper

Have questions? Make Contact with Hugo

The current hype into formal emigration being the absolute and final solution to escape the tax consequences of the new #Tax2020 rule has resulted in too many expats South Africans incorrectly opting for formal emigration.

Any expat that is concerned about the pending changes should immediately ask the following question: Did I file all my tax returns up to February 2018 and am I correctly registered as a provisional taxpayer? Being tax-exempt does not exempt you from tax filing obligations.

The R1m capped exemption was increased to R1,25m

Before one gets overly concerned about the March 2020 [#Tax2020] liability, you need to address the issue of outstanding and overdue tax returns. Anyone impacted by the new rules should have been tax filing with SARS.

If not tax filing for some years, one must ensure you have correctly tax emigrated and paid your exit levy on time. Doing a financial emigration in the current tax year, will not shield you against tax penalties and interest on the unpaid taxes.

Continue reading on https://www.thesouthafrican.com/south-african-expats-foreign-employment-income-tax/

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Published by Hugo van Zyl CA(SA) TEP MTP(SA)

I am a qualified Chartered Accountant (South Africa) and a registered Master Tax Practitioner (South Africa) and Trust and Estate Practitioner. I live in Cape Town yet many clients and intermediaries are based in Sandton, Durban, Bloemfontein ad Pretoria. I, therefore, commute on a regular basis. I have been married for some 20 years, we have no children and we love to travel. We share an affinity for good company, interesting food and good value for money wines.

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