Emigrating - Important financial, tax, and exchange control considerations
CPD Hours: 2
Price: R450.00
Emigrating - Important financial, tax, and exchange control considerations
Presenters : Jonty Leon LLB, GTP(SA) , Maya Nikolova
Overview
According to a recent survey conducted by the Social Research Foundation in September 2022, 53% of university graduates aged 25 - 40 years, and 43% of those who earn more than R20 000 a month, may most likely consider leaving the country for greener pastures!
These statistics are being caused by the current negative socio-political climate that is filled with corruption, scandals, violence, high inflation and power cuts. But before making the big decision to emigrate, there are important financial, tax and exchange control considerations that one must carefully look at first.
Competencies developed in this webinar
By attending this CPD webinar you will develop the following competencies:
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Understand tax residency and how it is determined in terms of the Income Tax Act, section 1.
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Fully understand the formal process of ceasing tax residency.
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Know the requirements to expatriate funds from RSA in terms of the Income Tax Act and the Exchange Control Regulations and Manuals.
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Know the overarching requirements to overcome the burden of proof against SARS.
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Understand section 9H of the Act regarding when a person is deemed to have disposed of their assets, including the class of assets that this doesn't apply to.
Content
The webinar will cover the following topics:
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What is tax residency?
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How to determine tax residency.
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How emigration impacts the process to cease RSA tax residency.
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Requirements to expatriate funds.
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Exit tax.
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Burden of proof.
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Tax treatment of foreign vs local.
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