Expatriate tax and tax emigration in practice
Presenters : Roné Loubser
Overview
This video was presented in two parts. The first part discusses a practical approach to deal with expat tax at SARS, with the focus on foreign employment earnings of South African residents. We discussed relevant aspects to the SARS requirements as well as the implications of South African tax when submitting an income return to SARS.
During the second part of this video, we dealt with the cessation of tax residency and the process to facilitate a change in resident status through SARS efficiently. We discussed the SARS requirements for becoming a non-resident and the resulting capital gain effect thereof. Potential pitfalls and suggested work-arounds will be highlighted, based on practical experience gained over the last couple of years.
Video content
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Difference between South African expats and tax non-residents
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SARS requirements for South African expats on foreign employment earnings
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Methods of changing your tax residency status (Ordinary vs DTA)
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The consequences of ceasing your South African tax residency including the benefits of becoming a tax non-resident
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Deemed disposal capital gains tax on cessation (assets included and excluded)
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Practical examples and scenarios relating to both expats and non-residents
Competencies developed in this video
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Understanding the differences between resident vs non-resident
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Understanding the consequences and benefits of resident vs non-resident
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Ability to do tax planning and inform clients of the impact of resident vs non-resident
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Collaborating with clients about the impact of ceasing residency
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Collaborating with clients about the impact of remaining an expat
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Ability to make informed decisions and provide comprehensive advice to clients
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Updated with important changes of the SARS process in practice
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Informed about the SARS requirements and tax legislation
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