Inescapable Even In Death – SARS’ Tax Debt Collections In The Afterlife
Wealth planning is common in these times, as many wealthy, and often high-net-worth individuals, must ensure the protection of their hard-earned money and assets. What should be just as common, is estate planning, so your legacy remains long after you have left this world.
Planning A Family Holiday While Working Remotely On The Side? Think Again.
Because of digital advances, in part fuelled by worldwide lockdowns and social distancing, there are many professions that no longer require staff to be permanently office-bound.
Living Abroad? SARS Is Stepping Up Their Prosecuting Game
South Africans living abroad should be aware of the seriousness with which SARS is dealing with non-compliance. Provided that you are working abroad and have not ceased your tax residency, while not filing tax returns or declaring your foreign income, you are most likely non-compliant.
Mauritius Revenue Authority Declares That Foreign Trusts Are No Longer Exempt From Paying Tax
Recently the Mauritius Revenue Authority (“MRA”) announced by way of a Statement of Practice (“SOP”) that foreign trusts held in Mauritius will no longer be exempt from income taxes.
Policy Withdrawals After Financial Emigration – SARS’ Current Challenges
There are many reasons why South African tax residents undertake to cease tax residency through the financial emigration process. One of the reasons is that a successful financial emigration provides one with the rare opportunity to fully encash your policy funds.