The Only Tax Update Dedicated To South Africans Working Abroad

SARS and the National Treasury have been extremely busy before and during the Covid-19 pandemic to sharpen the tax collection approach on South Africans living or working abroad. The warning signs have been there, and the 2021 Budget Speech along with the Tax Administration Laws Amendment Act No. 24 of 2020, which was promulgated on 20 January 2021, will have a significant impact on South Africans working abroad.

Presented by Jonty Leon and Thomas Lobban (co-authors of LexisNexis’ Expatriate Tax Textbook), the webinar will focus on addressing specific areas of concern as indicated by South African expats in a recent survey we conducted while considering the 2021 Budget Speech.

We encourage you to attend the update to get in-depth understanding on –

• Tax Law Changes: Outcomes from the budget speech, the foreign employment tax law change, falling afoul to new criminal offences and the 3 year rule to withdraw retirement benefits upon emigration.
• SARS’ New Attack Strategy: Keep your foreign revenue streams safe with an insight into SARS’ new approach in auditing offshore income, trust structures and cryptocurrency transactions, which will include a discussion on the latest case law, legislative updates etc.
• Financial Emigration vs DTA: Unpacking the truth around Financially Emigration and what is changing from 1 March 2021. A comparison to applying DTA relief will be given to evidence all avenues one can use to protect foreign income from South African tax.
• Applying Covid-19 Relief: How to practically apply the amended 117/60 day rule on your 2021 tax return.
• Correcting Past Non-Compliance: Many expats are caught unaware by the law changes. We will provide practical steps to fix past returns in a manner that avoids SARS penalties and interest.

The overall purpose of the webinar is to clear up the misinformation that exists in the market and on social media while addressing your burning questions and ensuring you remain expertly informed and appropriately prepared for the various South African Emigration & Tax law changes.

MISCONCEPTIONS & COMMON QUESTIONS ADDRESSED

1. If I deregister with SARS, will I be exempt from Expat Tax?
2. How can I time my contract start date to make use of two year’s tax exemption?
3. I was stuck in RSA during lockdown, how can I use new 117/60 day rule?
4. Are Independent Contractors exempt from expat tax?
5. Ticking the “non-resident” check box on your tax return will exempt you from RSA tax.