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Local taxation of UK Pension?

Posted 9 November 2013 under Tax Q&A


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I turned 65 in February and after a brief visit to UK established that I qualify for a small pension based on what I paid in before emigrating to SA. It amounts to some R40k per annum. I am presently unemployed (no salary presently) due to losing my business last year, but I am working on changing this situation (may be salaried later this year). Two questions:1) if un-salaried would this small amount of pension be subject to tax by SARS.2) if I had the tax from UK paid into my local bank account, when the funds arrive here (every month) the bank will call me & ask what it is for & I will have to answer that it is UK pension. This would then be reported to the Reserve Bank. Would SARS then become aware of this pension. The alternative would be to have a family member send it to me as a loan, not mentioning anything about pension, thus not being taxable.Please advise.

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TaxTim TaxTim says:
9 November 2013 at 11:59

Foreign pensions are exempt from Tax in South Africa, but the R40 000 is below the tax threshold anyway and therefore no tax would be paid on this amount.


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