South Africans who have emigrated and earn over a R1 million will from next month be required to pay income tax in South Africa. The new expat tax is an amendment to the income tax act and will ensure that those who have emigrated are taxed according to South Africa’s tax requirements. Consumers also need to make a plan on how to handle their savings, retirement and insurance policies when emigrating.
Maggie Ntombela from Deloitte is in studio to discuss this.
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