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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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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. |
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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? |
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TaxTim says: 27 January 2016 at 17:21 That is correct yes, cash never carries a CGT element. |
