Hi guys,
Further to this topic.......
See this link
http://www.sars.gov.za/AllDocs/Legal...20presence.pdf
Of particular note is annexure B on page 10.......
I am crystal clear on the fact that we are non-resident.....and what is becoming clearer, is the fact that this is not quite as simple as claiming you are non-resident.
According to the Income Tax Act, when you become non-resident, you are considered to have disposed of your assets(to yourself), which triggers a potential capital gains tax issue.
Since I am no tax expert, I am trying to find a tame tax man who can help me formalise my non-residence as this will have the effect of lodging my status with SARS(also lodges a new valuation date for your assets).
Fortunately for me, I don't own anything of substance in SA so it should be fairly simple......but I know many of you may have extensive assets and you should seek advice from a professional, especially one who deals in CGT.
I will post further information when it is forthcoming......