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Are you a South African living abroad? Here’s what you need to know about expatriate tax

SDK Chartered Accountants's Monthly Newsletter

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Are you a South African living abroad? Here’s what you need to know about expatriate tax
As of 1 March 2020 (2021 Tax Year), the amendment to Section 10(i)(o) of the Income Tax Act concerning the foreign employment income comes into effect. 

The amendment to this section has caused concern for the majority of South Africans on secondment or living abroad. To date expats have paid little to no tax, as they meet the requirements of Section 10(i)(o)(ii) which currently specifies that ‘Remuneration received outside of South Africa will be exempt should an individual be out of the country for more than 183 days for a 12 month period of which 61 days must be continuous’.

The amendment made to this section will now cap the exempt amount to R1 million for the year of assessment, which will mean that any and all remuneration received from a foreign employment source will now be taxed according to the South African tax sliding scale. 
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Your Last Will And Testament
ArticleImage Few things in life are as certain as continuous change.

For each of us, the arrangements regarding our assets and estate both during our lifetimes and at death, are also continuously affected by change.

These changes are of two types, namely

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Companies: Don’t Inadvertently Encourage Unethical Behaviour
ArticleImage What causes dishonesty in businesses? It’s an important question, with one survey showing that a whopping 41% of staff in a particular company had observed unethical behaviour over a 12 month period. That despite the common perception that most people are inherently honest.

Of course a lack of ethical or unlawful conduct is the last thing you want in your own business, but in reality you may - however innocently and inadvertently - actually be encouraging it. 

We identify and discuss four ways in which management could be doing this, and we share some suggestions on how to remedy a dangerous situation. 
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The CIPC Is Taking On Wrongdoing by Directors – A R4.3bn Example
ArticleImage As a director, you are held by the Companies Act to high standards of conduct, not to be taken lightly.

Now the CIPC, despite often being perceived as having no more than an administrative and recording function, is showing that it has teeth and that it will use them.

We look at how the CIPC has now issued a Compliance Notice to the Public Investment Corporation, instructing it to recover a R4.3bn investment in AYO Technology Solutions. What is a Compliance Notice and what are the implications for you as a director? Read on for the answers…
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Sugar Tax: Good for the Taxman, Bad for the Sugar Industry
ArticleImage South Africa’s “Sugar Tax” has been around for a year now, and although it was at the time widely welcomed by the health lobby, there were rumblings about its possible negative effects on our economy and employment levels.

Whilst it is still too early to gauge the tax’s impact on our healthcare costs and on the health and lifespan of our citizens, several clear trends have emerged as to its effect on the sugar industry and on revenue collections by SARS.

We examine these trends, the UK’s experience with their own version of the tax, and the question of how likely or unlikely it is that government will agree to reduce the tax at the instance of a sugar industry that is suffering and asking for relief.
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What Our New Tax Statistics Tell Us
ArticleImage There are only run-of-the-mill tax deadlines in April, but some interesting information emerged from the recently-released 2018 edition of SARS’ Tax Statistics -
  • For the first time since the Global Financial Crisis the increase in tax revenue collected lagged behind GDP growth. This reflects that (a) the days of tax collections rising at a fast clip are over and (b) tax morality is declining (something SARS is concerned about and it’s one of the factors in the setting-up of the Nugent Inquiry into tax affairs).

  • Only 24% of companies paid tax, underlining the drop off in corporate tax profitability.

  • Over 40% of all individual taxpayers are from Gauteng.


The information provided herein should not be used or relied on as professional advice. No liability can be accepted for any errors or omissions nor for any loss or damage arising from reliance upon any information herein. Always contact your professional adviser for specific and detailed advice.

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