In the wake of the global skills shortage, South Africans are finding themselves in high demand globally, prompting many to contemplate a life abroad.
2023 has seen SARS expanding its compliance arsenal, implementing processes such as the Approval of International Transfer (AIT) process, and sending out waves of Handover to 3rd Party Debt collector Notices to non-compliant taxpayers.
The South African Reserve Bank (SARB), in collaboration with various financial institutions, maintains a comprehensive record of the residency status of all South African banking customers.
For South Africans who have ceased their tax residency, unlocking one’s retirement savings becomes a nuanced journey filled with complexity and uncertainty.
In the wake of the recent National Health Insurance (NHI) presentation on October 31st, a significant proposal has been put forward: the elimination of existing medical aid credits for employees enrolled in registered medical aid plans.