SA residency based tax
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SA residency based tax
For all the SA expats who are wondering whether they're going to get caught by the new residency based tax next year, the Revenue Laws Amendment Bill was passed the other day and defines who is and isn't resident for tax purposes.
Basically you are non-resident (and therefore not subject to SA tax on income earned outside SA) if you are absent for more than 183 days in any one year (I presume they mean a tax year) AND those days include a continuous period of at least 60 days.
If you don't meet the above, any income earned outside SA will be taxed at your marginal rate (ie the highest rate), less any tax paid abroad.
So now we know!
Basically you are non-resident (and therefore not subject to SA tax on income earned outside SA) if you are absent for more than 183 days in any one year (I presume they mean a tax year) AND those days include a continuous period of at least 60 days.
If you don't meet the above, any income earned outside SA will be taxed at your marginal rate (ie the highest rate), less any tax paid abroad.
So now we know!
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SARS site www.sars.gov.za
There was an article in the business section on the Sunday Times - you could try www.suntimes.co.za
Hope this helps.
There was an article in the business section on the Sunday Times - you could try www.suntimes.co.za
Hope this helps.
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Here's the SARS Briefing Note. You might need to download Adobe Acrobat Reader to read it. The reader is a freebee.
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The basic tool for the manipulation of reality is the manipulation of words. If you can control the meaning of words, you can control the people who must use the words.
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The basic tool for the manipulation of reality is the manipulation of words. If you can control the meaning of words, you can control the people who must use the words.
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Milehi,
I am not - do you ? What for ? New roads to townships ... wait let me rather shut up !
I am having a nice day in West Africa - WITHOUT paying taxes - thanks!
Wife and kids contribute MORE than enough ! I used to do my little bit as well for 18 years in the forces ... drie kleur op die onderbroek en al daai mooi goed ! (Underpants with the ols SA flag on)
Gunship
West Africa
I am not - do you ? What for ? New roads to townships ... wait let me rather shut up !
I am having a nice day in West Africa - WITHOUT paying taxes - thanks!
Wife and kids contribute MORE than enough ! I used to do my little bit as well for 18 years in the forces ... drie kleur op die onderbroek en al daai mooi goed ! (Underpants with the ols SA flag on)
Gunship
West Africa
