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State pensions received from foreign country

Posted 9 August 2014 under Tax Q&A


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Are state pensions received from a foreign country taxable in South Africa in cases were contributions to such pension fund was paid while permanently residing and working in said foreign country? Must such amounts be declared as income? Are the banks obliged to advise SARS of such pension money transfers from foreign source?

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TaxTim TaxTim says:
10 August 2014 at 21:50

No these are not taxable in SA and are specifically exempt in terms of the Tax Act.

Hewo says:
12 August 2014 at 20:34

I would appreciate if you could please quote the tax reference in the Act, so that I can look it up on the Internet.

Kind regards
Heiri Wolfensberger

TaxTim TaxTim says:
13 August 2014 at 4:39

s(10)(1)(gC):

gC)any-
i)amount received by or accrued to any resident under the social security system of any other country; or
ii)pension received by or accrued to any resident from a source outside the Republic, as consideration for past employment outside the Republic;


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