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Ultra-rich South Africans are bailing on Joburg, Cape Town and other top cities

South Africans

Data from Henley & Partners shows that high-net-worth individuals (HNWI) continue to leave the country’s economic hubs. The latest Henley Global Citizens Report 2022 Q3, compiled in collaboration with New World Wealth, reported that Johannesburg has seen a 5% decrease in the number of HNWIs to date in 2022, while Cape Town has seen a […]

2 Documents South African Expats Need To Avoid Being Taxed By SARS

South African expats

It is increasingly important that South African ex-pats are aware of the proper tax compliance procedure amid digital platforms creating misinformation, says Lovemore Ndlovu, a South African Reserve Bank (SARB) and South African Revenue Service (SARS) complaint manager for Tax Consulting SA.

South Africa is getting a new ID system – how it will work

Smart ID in Hand

Government is in the process of developing the new National Identity System (NIS), which will replace the current National Population Register and become the backbone of all Home Affairs functions in South Africa. The system, which is expected to be operational by March 2024, will enable the security and reliability of civic and immigration status […]

New vaping rules and taxes planned for South Africa

New Vaping Rules

The National Treasury has published a discussion paper outlining a proposal on the taxation of electronic nicotine and non-nicotine delivery systems (ENDS). This follows signals from the government in its previous two budget speeches that it plans to start taxing these two products. “ENDS are part of new generation products that have been introduced in […]

New SARS change could be a ‘trojan horse’, say tax experts

SARS Tax Payer Service

The South African Revenue Service (SARS) recently began sending out letters to taxpayers working abroad, confirming their change in status to non-residents for tax purposes. This is a somewhat peculiar development for expatriates who have previously ceased their tax residency, as they are now requiring an additional step to objectively support their non-residency as issued […]

Home office for tax purposes in South Africa

Webinar

In a year where Covid has been rampant and many of the working conditions have changed, there should be some account of the additional costs incurred by taxpayers for working from home. Marty SantanaTaxpayers can claim a tax deduction if they have worked from home for more than half of their total working hours or […]

SARS is now issuing this letter to taxpayers leaving South Africa

SARS

One of the challenges faced by taxpayers who have left South Africa and ceased their South African tax residency has been obtaining objective confirmation. This would typically require a taxpayer to provide a raft of objective evidence to demonstrate the fact that they are non-resident, including a TCS Pin from the South African Revenue Service […]