SOUTH AFRICA EXPAT TAX UPDATE #2020

Income Tax Act Amendment (2017)

FINANCIAL EMIGRATION

ORDINARILY RESIDENT TEST

  • An intention to be ordinarily resident in the Republic
  • The natural person’s most fixed and settled place of residence
  • The natural person’s habitual abode, that is, the place where that person stays most often, and his or her present habits and mode of life
  • The place of business and personal interests of the natural person and his or her family
  • Employment and economic factors
  • The status of the individual in the Republic and in other countries, for example, whether he or she is an immigrant and what the work permit periods and conditions are
  • The location of the natural person’s personal belongings
  • The natural person’s nationality
  • Family and social relations (for example, schools, places of worship and sports or social clubs)
  • Political, cultural or other activities
  • That natural person’s application for permanent residence or citizenship
  • Periods abroad, purpose and nature of visits
  • Frequency of and reasons for visits

PHYSICAL PRESENCE TEST

  • 91 days in aggregate during the year of assessment under consideration; and
  • 91 days in aggregate during each of the five years of assessment preceding the year of assessment under consideration; and
  • 915 days in aggregate during the five preceding years of assessment.

DOUBLE TAXATION AGREEMENT

WHAT IS A DOUBLE TAXATION AGREEMENT?

ADVANTAGES & DISADVANTAGES

PROCESS OF ACQUIRING A DTA CERTIFICATE

Conclusion

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Mike Coady — Financial Coach in Dubai

Mike Coady — Financial Coach in Dubai

22 Followers

Qualified to UK FCA standards, a member of the CII, a Fellow of the ISM, a Fellow of IoD, and a highly qualified Financial Adviser in Which Financial Adviser.