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Thought I'd share my recent experience with applying and getting financial emigration status myself. I didn't use an agent, but just worked with the foreign and migrant banking department at my bank (Nedbank - the others will have similar). This was correct as at June 2016 Note that payment of RA's could follow a slightly different process if you already have permanent residency and have a certificate of residency i.e. I don't think you need to financially migrate. I'm still in transition to PR so this is the route I chose to close everything out. It was relatively sim
I just want to know when, if ever, I can stop submitting tax returns to SARS. Or do I need to do this each year forever more? So a few details on my situation. I received my PR visa in 2012 and moved to Australia in 2015. I have no assets and no RA's in South Africa, just a single bank account with about R2000 in. (Should I close this bank account??) I'm at the final stages of getting Australian citizenship (citizenship test is in 2 months) After hearing about new tax laws in SA where you might have to pay double tax if you earn more than a million rand o
I have lived in Oz since 2008 (PR since 2016) and until last year I have done my SA taxes as SA tax residence in both countries, i.e I declared my foreign income in SA. I sold my home in SA in 2015 and bought a house in Oz. Currently I have a rental property, pension and RA's in SA. Since my primary residence is outside SA, visited SA only for holiday in the last 10 years (two weeks per year) and I have no intention of returning 1. Am I still a tax resident in SA? 2. Do I still have to declare my foreign income and foreign capital gains in SA or do I only declare my SA ba
HadEnoughofJuju posted a topic in Money!Hi Everyone, I just thought I would share this little headache we have encountered with anyone intending to go through this process in the hope that we can spare someone some future pain. We are busy with financial emigration and one of the things that needs doing is your tax affairs need wrapping up and a tax clearance for emigration purposes needs to be applied for and issued before you can continue with the formal emigration process. I was (and not so proud to admit this) stupid enough to close my regular bank account. Closing the account was not so much the stupid part as not updating