SARS FAQ: Foreign Earned Income Exemption

#Tax2020Truth on the Capped Foreign Earned Income Exemption being R1 million as from 1 March 2020. First tax due 31 August 2020.

SARS now has a dedicated page dealing with:

FOREIGN EMPLOYMENT INCOME EXEMPTION

Continue reading “SARS FAQ: Foreign Earned Income Exemption”

FATCA in Afrikaans? BRS:AEOI? Is this Marmite on Toast you ask?

BRS: AEOImeans Business Requirement Specification: Automatic Exchange of Information

There is so many new tax acronyms, one can’t be blamed for not always knowing  the full phrase behind the tax acronym.

To guide you, we add a few new once, all from an SA perspective yet they are all well-known international acronyms or abbreviations.

Here they are, but it is not an exhaustive list: Continue reading “FATCA in Afrikaans? BRS:AEOI? Is this Marmite on Toast you ask?”

Ex-pat Pensioners enjoy Exchange Control Freedom

On our Exchange Control Blog we posted an interesting Exchange Control update (Circular 4 of 2014) refers. See http://wp.me/P4efR1-q

In short:

Ex-pat Pensioners residing abroad (not having formally emigrated) can now extract their monthly pension and retirement annuity income from South Africa (SA) without the need of a tax clearance certificate, despite living abroad as so called temporary non-residents. 

TAX ISSUES  Continue reading “Ex-pat Pensioners enjoy Exchange Control Freedom”

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