The finalisation of a deceased estate is in itself a time consuming and frustrating process for South Africans. Further complexity and exasperation is caused when one of the heirs is an expatriate.
Property Practitioners, including Estate Agents, Candidate Estate Agents, and Property Managing Agents (“the Agents”), have for years been regulated by the Estate Agency Affairs Act, 112 of 1976 (“EAA”). However, as of 01 February 2022, this era has come to an end, with the enactment of the Property Practitioners Act, 22 of 2019 (“the Act”).
The obtaining of a SARS Non-Resident Confirmation Letter is a key part of the tax roadmap for many of our clients. This is where SARS formally confirms that you are non-resident for tax purposes. They run a system and check to make sure that they relinquish their world-wide taxing right, as this is not something […]
There are many South Africans working abroad who have made the decision to return to their home country. For many, the pandemic was the roll of the dice that sealed their fates. For others, the idea of being far away from extended family was the drawing card that tugged at their heart strings. Regardless of […]
Reflecting their bearish view on the rand, South African expatriates holding rand-denominated life policies are increasingly opting to convert their policies to the dollar, providing a hedge to the rand while exempting them from domestic estate tax.
A new landmark study is set to call out the most significant operational, regulatory and legislative challenges experienced by tax practitioners in South Africa with a view to improving the level of support provided by industry bodies and expediting often-onerous interactions with government tax agencies.
The South African Revenue Service (SARS) continues to make good its commitment to call non-compliant South African taxpayers to account, most recently collaborating with the Irish Tax Authority (“ITA”) to identify South Africans operating Airbnb businesses in Ireland.
It has come to light in March 2022, that the Irish Tax Authority (“ITA”) has reached out to Airbnb Ireland UC (“Airbnb”), for the disclosure of specific information, as pertains to income generated from the online accommodation booking platform, across both current and historical transactions.
As the South African Revenue Service (SARS) intensifies its focus on the tax compliance of high net-worth individuals (HNWI), a self-governing island nation located in the Irish Sea has steadily emerged as an appealing emigration destination for prospective South African expatriates.
What Are The New Rules? Since the announcement by Treasury effective 1 March 2021 to the process of Financial Emigration and ceasing ones tax residency, the transfer of funds offshore for expatriates (emigrants as known under exchange control), has in some regards become more flexible, in terms of allowing you more than one authorised dealer, […]
