Written by Marc
Posted 6 March 2014
Written by Marc
Posted 6 February 2014
I am a South African citizen and have been made an offer of employment by a Dubai-based consultancy. They will give me an employment contract to work in Dubai (among other offshore locations), they will sponsor me as a permanent resident in Dubai and will assist me in setting up a bank account for my salary to be paid into tax-free in Dubai. I will be away from south Africa for at least 183 days in each 365-day tax year.
Question: would I have to declare my earnings in my RSA tax retu...
Written by Marc
Posted 5 February 2014
Written by Marc
Posted 5 February 2014
Ok, so I was retrenched on March 27th 2013. I got a 2 month severance package. From 15th of April up to 30th August I was lucky to get consistent temp jobs. Then from September 1st to October 6th I was unemployed. I left RSA on Oct 7 to come work in Saudi Arabia. Therefore I was unemployed for 50 days and out of SA for 166 days consecutively. I will only be able to come home for 3 weeks between mid September and mid October. I do send about R35,000.00 per month home to pay bills and the bon...
Written by Marc
Posted 25 January 2014
Written by Marc
Posted 23 January 2014
Written by Marc
Posted 17 January 2014
I just have a question regarding foreign income. I am a South African resident for tax purposes, but I recently landed a job on a cruise ship overseas, which I will be starting in March 2014. I will be earning a foreign income which will be paid into my South African bank account. My contracts will be on a 4 months on, 2 months off basis, so I will be out of the country roughly 240 days a year, of which approximately 120 days will be consecutive. During my 2 months vacation I will not be earning a salary....
Written by Marc
Posted 15 January 2014
Written by Marc
Posted 10 January 2014
Written by Marc
Posted 30 December 2013
I am a dual citizen (SA & European). I am currently living abroad on my European passport and never formally emigrated from SA. As a result I still hold a bank account there, as well as unit trusts & shares. I left SA shortly after studying so never had a job there/ paid income tax/ registered with SARS. Although I still visit the country on occasion, I am no longer a resident there. I would like to consolidate all my SA assets (have it all in one place) so I would like to "cash out...
Written by Marc
Posted 10 December 2013
Written by Marc
Posted 8 December 2013
Written by Marc
Posted 3 December 2013
Written by Marc
Posted 27 November 2013
Written by Marc
Posted 27 November 2013
Written by Marc
Posted 21 November 2013
Dear TaxTimI worked 3 months (March - May 2012) of the 2013 financial year in South Africa (for which I have the IRP5, included in my efiling ITR12), the total amount earned was R24,850. Since then, from June 2012 to present, I have been employed on a full time basis and continuously present in Chile (the period exceeds the number of days required to qualify me as non-resident for tax purposes in SA - 183 days) - for all of the 2013 tax period, I have not paid tax on this income in Chile, due to...
Written by Marc
Posted 5 November 2013
I have had a complex tax year!
Firstly I am a RSA resident.
From 1/3/2013 - 18/5/2013: 79 DAYS I worked in USA, and was paid by the USA firm.
From 13/08/2013 - today: 72 DAYS I have worked in Zambia on contract, paid out of SA.
My questions are:
1. If I go passed the 183 days, will my tax be refunded?
2. What am tax am I liable for if I had to go passed the 183 days?
3. If I go on holiday for the remaining 40 days outside SA does that count, or do...
Written by Marc
Posted 1 November 2013
Written by Marc
Posted 25 October 2013
Written by Marc
Posted 26 September 2013
Written by Marc
Posted 23 September 2013
Hi Tim,
I left SA on 1/9/2011 to take up a permanent employment in UAE, with a UAE company. I also took up residency in the UAE. I sold all my fixed assets in SA, except for my primary residence, which I left for the children to complete their university studies from. I didn't have any intention to return to SA and wanted to relocate elsewhere, after my pension. Unfortunately I was retrenched w.e.f. 10/12/2012 and I returned to SA on 18/12/2012. I visited SA in Nov 2011 for 10 days in Oct 2012 for 5 days. I only started to earned an income in SA in February 2013....
Written by Marc
Posted 18 September 2013
Written by Marc
Posted 11 September 2013
Tim
I have a question. I live in the UK. I have been living here for 5 years. I have property and bank accounts in South Africa. I submit my tax returns every year, claiming a loss on my bonds over my properties. I put my foreign income under section S10(1)(o).
I want to know about off shore investments, if I decide to buy US Stock today, will this be the base cost for CGT purposes or will it be the day I return permanently to South Africa?
How would this differ...
Written by Marc
Posted 10 September 2013
Written by Marc
Posted 2 September 2013