International Mobility Group Breakfast Johannesburg – 26 September 2018 – 07:00 – 10:00
The tax law changing the tax exemption on South Africans working abroad has now been fully promulgated and takes effect on 1 March 2020. The initial implementation date of 1 March 2019 has been extended by Parliament to specifically allow employers and expatriates to plan their tax affairs before the implementation date.
Guest speaker, Jerry Botha, will cover insights into the law changes and key considerations for future expatriations.
Jerry represented the Expatriate Petition Group and SARA members in submissions to the National Treasury and Parliament that were material in tapering the initial recommendation of total removal of the 183- and 60-day exemption to the now promulgated R1m tax exemption threshold.
The event will cover:
- The reason for the tax law change and why there is a further opportunity for SARA advocacy on the matter;
- The items on which National Treasury / SARS has not as yet conceded, and where the lobby process must continue for a balanced outcome;
- The key concerns faced by expatriates based on extensive interaction with them;
- The challenge now faced by employers – reduced take-home pay, tax gross-up or risk of losing expatriates, with practical examples;
- An overview of typical legal jargon with which tax experts may confuse you, demystifying concepts like foreign tax credits, double tax agreements (how does it actually work), tie-breaker clauses and CGT deemed disposal;
- Financial emigration vs. Double Tax Treaty relief to break South African tax residency; and
- Strategies we have seen adopted by employers to plan for the change and minimise or fully mitigate the impact of the changes.
About Jerry Botha
Jerry Botha specialises in employee remuneration, benefits and tax. He holds his own FSB license, is a Master Reward Specialist, CFP®, Chairman of the PFI Tax ISG, SARA Executive Committee Member, Chair’s the SARA Employee Benefit and Tax Committee.