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Will I be taxed on my overseas earnings?

Posted 17 January 2014 under Tax Q&A


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I just have a question regarding foreign income. I am a South African resident for tax purposes, but I recently landed a job on a cruise ship overseas, which I will be starting in March 2014. I will be earning a foreign income which will be paid into my South African bank account. My contracts will be on a 4 months on, 2 months off basis, so I will be out of the country roughly 240 days a year, of which approximately 120 days will be consecutive. During my 2 months vacation I will not be earning a salary.

My query is whether I will have to pay income tax or not? What are the tax exemptions for the 2014 tax year?

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TaxTim TaxTim says:
17 January 2014 at 14:30

You will not have to pay tax on the overseas earnings as you qualify under section 10(1)(o) of the Act which exempts this kind of income.

Shanelle says:
17 January 2014 at 16:05

Thank you very much for your help

TaxTim TaxTim says:
17 January 2014 at 18:58

Only a pleasure!


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