
South Africans living abroad now have to pay tax on anything above their first R1.25m made outside the country. The rest of their earnings - including all fringe benefits, like housing, education and flight allowances - will now be taxed according to the normal tax tables for the year, which can go up to 45% in some cases. Amendments to South Africa's tax law came into effect on March 1, which means expat tax kicked in. The original plan called for a limit of R1m (£50,000). The expat...
To continue reading this article...
Join International Investment
Join International Investment today
Unlock members-only benefits:
- Unlimited access to real-time news, industry insights, video features and market intelligence
- Stay ahead of the curve with spotlights on international financial centres, regional trends international advice and global industry leaders
- Receive breaking news stories straight to your inbox in the daily newsletters
- Hear the latest cross jurisdictional developments in wealth planning, tax, regulation, investing, retirement and protection
- Members-only access to the Editor’s weekly news roundup newsletter
- Members-only access to analysis via our exclusive industry polls
- Be the first to hear about our events and awards programmes