Hide
Earn under R350,000? Click here to see why you still need to file to get your Tax Refund.
CLOSE
Get SARS Tax Dates and Deadlines in your Inbox
 

We'll tell you when you need to file, along with tax tips and updates.

Tax and emigration

Posted 27 January 2016 under Tax Q&A


Let TaxTim
help you
submit your
Tax returns!


TaxTim will help you:

 Do Your Tax Return Easily
 Avoid penalties
 Maximise your refund

Tim uses your answers to complete your income tax return instantly and professionally, with everything filled in in the right place.

Let Tim submit your tax return direct to SARS in just a few clicks!

Get started

Blog Categories


Ask TaxTim

Got a question you want answered about tax?

Visit our helpdesk →
Mike says:
26 January 2016 at 20:07

As someone who was born in South Africa and have always resided in South Africa what are the tax implications if I decided to emigrate? Is there an exit tax?

This entry was posted in Tax Q&A and tagged , , , , . Bookmark the permalink.

TaxTim TaxTim says:
27 January 2016 at 8:10

There is no exit tax as such, but you are deemed to have disposed of all your assets and will pay CGT on those disposals.

Mike says:
27 January 2016 at 9:25

Once again thank you for your assistance. CGT would only apply to the sale of property, shares etc. not the cash you have in the bank - is that correct?

TaxTim TaxTim says:
27 January 2016 at 17:21

That is correct yes, cash never carries a CGT element.


Get SARS Tax Dates and Deadlines in your Inbox
 

We'll tell you when you need to file, along with tax tips and updates.

Blog Categories


Let TaxTim
help you
submit your
Tax returns!


TaxTim will help you:

 Do Your Tax Return Easily
 Avoid penalties
 Maximise your refund

Tim uses your answers to complete your income tax return instantly and professionally, with everything filled in in the right place.

Let Tim submit your tax return direct to SARS in just a few clicks!

Get started