According to experts operating within the field of emigration, South Africans are expected to break emigration records in 2018. Speaking to 702 Talk Radio, the manager at Financial Emigration, Jonty Leon, discussed the sharp spike in the number of South Africans looking to relocate abroad.
One of the reasons collective investment schemes, such as unit trusts, are so popular among individual investors is that buying and selling underlying assets is not subject to capital gains tax (CGT). The Taxation Laws Amendment Bill (TLAB), published earlier this month, includes an amendment that may change this.
A trend of increased delays and frustration with the South African Revenue Service’s (SARS’) dispute resolution process, are becoming apparent among taxpayers and tax practitioners alike.