For taxpayers looking to benefit from tax credits for solar PV installations, SARS wants to use third-party information from solar PV installers to determine if you qualify for a rebate.
Tax Consulting South Africa recently deployed a team on a week-long fact-finding mission to the Crown Dependencies, specifically Jersey and Guernsey. "This is not our first time on the islands; we visit regularly to ensure we can offer fresh, accurate insights on migrating wealth to these popular investment destinations," said Darren Britz, the firm's Head of Legal. Other party members included Roxanna Naidoo, Admitted Attorney, and Colleen Kaufmann, Tax Attorney.
The South African Reserve Bank (SARB) may no longer be a visible part of the process to cease residency in South Africa. However, when it comes to moving money out of the country during or after emigration, the Reserve Bank is still very much involved. This is especially true for amounts above R10-million. "Currently, we're not only seeing people leave the country for better prospects abroad but also a rise in those moving funds over R10-million offshore," says Lovemore Ndlovu, Head of SARB Engagement and Expatriate Compliance at Financial Emigration, a division of Tax Consulting South Africa.
Hybrid offshore pensions are not immune to tax iol.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from iol.co.za Daily Mail and Mail on Sunday newspapers.
A proposed wealth tax could drive a huge amount of wealthy and skilled South Africans out iol.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from iol.co.za Daily Mail and Mail on Sunday newspapers.