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Tax on foreign money

Posted 3 November 2015 under Tax Q&A


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Tina says:
3 November 2015 at 9:27

If a SA resident invested money overseas and want to bring some of that now back to SA to live off as he is retiring, what will the tax implications be?

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

TaxTim TaxTim says:
3 November 2015 at 14:55

There are no tax implications on bringing money into South Africa. However, a SA resident will pay tax on his world wide income and therefore there will be capital gains tax on the disposal of his investments that will need to be declared in his Tax Return.

Tina says:
3 November 2015 at 15:01

Thank you very much.

TaxTim TaxTim says:
3 November 2015 at 16:44

Only a pleasure!


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