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Tax and emigration

Posted 27 January 2016 under Tax Questions


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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?

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TaxTimTaxTim 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?


TaxTimTaxTim says:
27 January 2016 at 17:21

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


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