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Tax people familiar with RSA and OZ Tax Laws


BriD

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Hiya Peeps

Does anyone have recommendations of someone to help us with tax that that is familiar with both South African and Australian laws? They can be either in RSA or Aus.

Would really appreciate any recommendations on this.

Thanks so much!

Bri

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Hi BriD

I looked for someone a couple of years ago. Could never find anyone and I spoke to a couple of accountants. I simply took all the SA assets etc to my Aussie accountant and got him to put the info into my Aussie return as SA had said that I didn't need to do a tax return - presumably because no longer a tax resident.

We have one major asset left in SA and I'm not looking forward to working out what to do when we finally get to sell, as we will probably have to pay SA CGT before we will get clearance to remit funds. Not sure if tax residency applies to CGT - problem being that in Aus the capital gain simply gets included in your income if an exemption doesn't apply.

Maybe ask CashKows if they can recommend someone in SA who can liaise with your Aussie accountant and they can help with the SARS tax clearance (I'm hoping).

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You don't need to officially emigrate to get your funds out. Doing that will cost you a packet. Get Hugo van Zyl to do it for you. He is a charted accountant and works independently. He was with Cashkows and posts here. He has been a tremendous help to me and he lectures SARS staff on international tax matters.

Just Google his name and you will see it splattered all over the net.

PM me if you want his email address. Not sure if I can post it here. Don't go to any accountant that does not know the international tax regulations. Hugo is the man.

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Hi BriD

I can help - sent you PM

Regards

Louis


Further to Sunnyskies post:

  • CGT will probably apply in RSA and AUS but CGT discounts and Income tax offsets would apply if applicable
  • Also need to ensure a valid valuation is obtained for all RSA assets at date you become a tax resident in Australia.

Regards

Louis

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You may be a bit late to sell the property at 2014 CGT. At the moment it is 33.3% after the R30 000.00 exclusion that is added to your SARS taxable income. As I type, the minister of finance is busy with the budget speech. Expect this to increase to 50% for 2015.

Did not increase as expected. Stays at 33.3%.

Edited by Shampoo
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  • 1 month later...

Tax is a subject best left to the experts. I just received notice from my broker that they are investigating why I paid R6K dividends withholdings tax as I am non resident and have a Blocked ZAR account with them.

This shows the lack of SA tax knowledge and the lack of info available on SARS website.

I know that I have to pay this tax but am afraid for those that don't due to lack of information and then get penalties and interest added.

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