Tax Consulting South Africa and Firzt Realty have scheduled a free webinar on the 15^th  March 2021 to discuss how financial emigration is changing and the implications it poses on retirement fund members wanting to emigrate from South Africa.

Jonty Leon, (co-authors of LexisNexis’ Expatriate Tax Textbook) will unpack in the webinar the changes around the laws of the South African Reserve Bank (“SARB”) component for Financial Emigration. The changes will come into effect from 1 March 2021 and will effectively prevent South Africans who wish to emigrate and exit South Africa’s tax base on the basis of residency, from withdrawing their retirement funds from South Africa, until an uninterrupted period of 3 years. This will no doubt throw a spanner in the works for many South Africans looking to leave South Africa permanently. Those who previously delayed, may now need to accelerate their plans to leave or avoid having one’s retirement “nest egg” trapped in South Africa.

Denese Zaslansky, CEO of Firzt Realty will cover factors to take into account when selling your property and considerations vital to any homeowner looking to sell their property, including guidance from the planning phase to accepting an offer.

• What Expat Tax will mean to South African tax residents working internationally.
• Understanding the increase of the exemption cap.
• The increase in South Africans ceasing residency through financial emigration.
• Government to remove some of the emigration formalities from an exchange control perspective.
• Retirement funds and Emigration.
• Considerations when selling your property.
• How to avoid paying penalty interest on a bond.
• Why it is in your best interest to choose a professional agent.
• How you can determine what a realistic selling price is for your property.
• Implication of Capital Gains Tax when selling your property.