An amendment to the South African Income Tax Act, which will have hard-hitting consequences for citizens working outside South Africa, will come into force in March 2020. South Africans earning an income abroad should be considering their options, says Sovereign Trust SA. As it currently stands, South Africans working abroad for more than 183 days..
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Here’s a look at South Africa’s big expat tax to hit you and your options
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South Africa’s big expat tax is coming – major changes to be introduced in tax exemption on South African expatriates
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In 2017 the National Treasury and SARS announced that they would be introducing major changes in the tax exemption on South African expatriates. According to Claudia Aires Apicella, head of Financial Emigration at Tax Consulting SA, the legislative amendment is set to come into effect on 1 March 2020. It states that South African tax..
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Here’s how the taxman will come after South African expats
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If you have a good job overseas‚ living in a country where the tax rate is 25%‚ but your salary falls into South Africa’s 45% tax bracket‚ the taxman now wants to come after you to collect the difference of 20%. Jerry Botha‚ a managing partner at Tax Consulting‚ said the draft tax law amendments..
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