Foreign employment income: 10 most popular posts
Posted 22 July 2020
I have been working overseas and will be doing so for the whole of 2021 tax year making me provisional:
a. What average exchange rate will I use as February 2021 has not yet arrived?
b. When is the first Provisional tax return due and, if necessary payable?
c. Can I deduct my overseas pension and medical from my gross income or is this only if I have a pension/RA and medical in South Africa?
d. I know that R1. 25 mil is exempt so how would I work out the tax on that as I know...Read more →
Foreign Employment and Tax Implications
Posted 29 April 2020
I am a South African resident currently employed full time. I earn a monthly salary of R23000 (before tax). I have recently started consulting part time for a foreign company that will pay me in dollars. On average $2000 every 3 months.
Foreign income with online forex trading
Posted 24 October 2019
How one would declare Income/Loss that is derived from online forex trading. The trading account is in USD so I assume foreign income.
1. Where would one declare this income/loss with TaxTim/eFiling tax return under foreign income?
2. Is it necessary to declare if only a loss was made?
3. Can withdrawal fees/currency exchange and bank fees be deducted from overall profit.
4. What documentation would SARS require? The only documentation that can be acquired from the trading platform is trading history showing profit/loss but no tax certificates. ...Read more →
Submitting a tax return and foreign income
Posted 5 June 2019
I have been living abroad for a while, since February 2018 to be exact. I filed my tax return for the 2017/2018 financial year, as it reflected my income for the previous year, during which I was employed in South Africa. I would like to maintain an unbroken record with SARS, but I'm not sure how to file for income earned abroad. My current income is well below the R1 million limit impostor in South Africans working abroad. I will be tax returning to SA in March 2019. So, I would like to know wh...Read more →
Tax on foreign employment
Posted 28 May 2019
I was living in Dubai from March 2014 up until December 2016, I however did not earn any income while living there. I then moved to Namibia, where I am currently employed and getting an income, I am a registered taxpayer in Namibia. Also, I am a registered taxpayer in South Africa because I worked there before moving to Dubai. I've received no income from South Africa since moving out of the country. I'd like to find out if I still need to submit a tax return to SARS?
Which option do I select on eFiling?
Posted 5 July 2017
Which field do I select on eFiling to add income (in dollars) earned from freelancing?
Earning dollars as a freelancer
Posted 2 July 2017
I've been working as a freelancer (part-time) for the past year and I've been earning money in dollars. How will this affect my tax return?
I also work as a full-time employee.
Offshore earnings tax
Posted 1 June 2017
i need to know how my offshore tax will be calculated as I don't meet the 183 criteria for tax exemption.
Tax returns foreign vs local income
Posted 29 May 2017
I've been working outside of the country more than 6 months in a 12 month period with
more than 182/60 day rule passed so that money should be tax free. If I
earn in between those periods in South Africa, does that affect my tax free
income that I am earning outside South Africa?
Is the Package Correct?
Posted 27 March 2017
I'm filling out my 2017 tax return for Individual Return. My income is covered in part by an IRP5, and in part by a foreign deposit. Can I declare both on TaxTim?
I also just bought the TaxTim Ultra package because of the foreign income, but the email says I should only use the voucher on July 1st. Have I bought the wrong product?
Cruise Ship employee and Tax Laws
Posted 26 March 2017
I'm a SA resident and work on a cruise ship as a waiter for a company that travels all over the world. Most of my income is derived through gratuity from passengers. How would this relate to the new tax law for foreign income mentioned in the latest budget speech affect us? Will I be subjected to pay tax on the gratuity I earn?
Living in Namibia, but working for a company in SA.
Posted 17 March 2017
I live in Namibia, but work for a South African company.
I'm a South African citizen. Under the new changes brought in with the budget, how will my tax work? I'm still working for the same company (I have been working for 7 years in total).
Posted 16 March 2017
I'm currently staying in South Africa. I receive income from foreigners, for hunting trips outside of SA borders. I'm usually out of the country for a week or two at a time. Is this income I'm earning taxable in SA?
Does income earned in Mozambique need to be included in my SA tax return if I reside in South Africa
Posted 15 February 2017
I work remotely for a Mozambique company in South Africa, do I have to include the income earned in Mozambique in my SA tax return?
Legal tax deduction?
Posted 3 February 2017
Good Day I would like to know who is right in this scenario: a SA resident and the SA company I work for received a construction contract in Sierra Leone, November 2015 we left with promises that there will be no tax deducted. Just before we left our SA employment was terminated and we were rehired by the newly established Sierra Leone company (same name, just now Sierra Leone ltd). We work everything according to the SARS 183/60 rule In the meantime, salary and tax deductions went on like norma...Read more →
How to declare foreign trading income
Posted 31 January 2017
My declared foreign income is the same as I declared as the profit for a business because of online graphic design work - I get paid in USD via Paypal and via FNB. Should I only declare this once and remove it from the business? I would hate to pay tax for twice that of my earnings! Please help, thank you.
UK pounds income, how do I declare it?
Posted 27 January 2017
I earn my salary in UK pounds< can you tell me how I'd declare this please?
How do I pay tax on my foreign earned income?
Posted 26 December 2016
If I work for a USA company and earn e.g. $65,000 per year and the company does not have a brand and or is not registered in South Africa, what is the tax process?
I imagine - (please correct me). I receive full amount monthly and need to register as a provisional tax payer and pay SARS normal PAYE twice per year? Note I will not be traveling more than 183 days per year. Is there a possible benefit of registering a business and paying myself from the business a lower amount?
Can I apply the 183 rule to my income?
Posted 14 November 2016
I worked in RSA as a full time employee from 1 March 2015 until 30 September 2015. During this time, I earned R660 000. During this time, I was out of the country for 60 days, for business. From 1 October 2015 to 29 February 2016, I worked in the UK as a full time employee of a UK organisation. During this time, I earned R600 000 (in GBP). During this time, I was out of the country for 126 days.
During the full tax year, I spent 186 days outside of South Africa, of which 60 were consecutive, which means that I qualify for the exempt income provision (sec10(1)(o)(ii))...Read more →
Notice of assessment from SARS
Posted 8 July 2016
I submitted my tax on the 1st July after which SARS requested my documents which I submitted the very same day. Then I received a notification stating my income tax has been assessed and SARS will issue a Notice of assessment. My question is how long does it take to receive the (updated) Notice of assessment from SARS.
60 day rule
Posted 6 July 2016
I have an employment contract outside of SA and my employer does not deduct PAYE, do I have to be outside of SA for 183 days of which 60 must be consecutive in a tax year or just in a 12 month period (if contract is from 15 April 2015 - 15 April 2016)?
Tax exemption for Offshore workers
Posted 5 June 2016
I read a previous post about "Offshore workers" and tax exemption. I fit the profile with my work situation, but do I still need to stay out of the country for 60 consecutive days?
Deposit of foreign income into South African bank account, is it taxable?
Posted 27 May 2016
If I am working outside the country and wanted to send a large sum of money as a deposit for property within South Africa what are the Tax implications if any. I believe that because it is a large sum of money that it would need to be declared to the South African Reserve Bank beforehand.
Posted 26 May 2016
I received a total salary of R183477. 00 as from 01/07/2015 up to 29/02/2016. I would like to know how much PAYE was I suppose to pay. Take note I was working only for 8 months
Calculation of 183 & 60 days by working backwards a 12 month period from the last day of employment
Posted 23 May 2016
I started working abroad in Hong Kong on 1 Jun 2014 and am comfortable meeting the 183 & 60 days requirement for the 2014/2015 & 2015/2016 SA tax year of assessments. However, I need clarification on the 2016/2017 SA tax year of assessment as I will be tax returning back to SA permanently on 30 Sept 2016. I would have met the 60 days continuous requirement, but not the 183 days, it will only be a 122 days from 1 Jun 2016 to 30 Sept 2016. Reading Income Tax Interpretation Note No. 16, specificall...Read more →
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