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Found 12 results

  1. timothy

    SARS income tax return

    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
  2. 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
  3. We are on PR but have not formally emigrated, but are now giving it some more thought - essentially SARS driven. (In process of applying for AU citizenship, but first applied to RSA to keep RSA citizenship). Is the only way of closing ours SARS tax accounts by going the path of Formal (Financial) emigration through the Reserve Bank? (If so, then seems like this is the only way of really protecting oneself from possible tax law changes that may have implications further down the road) A related aspect that has me a bit concerned is the possible future tax implicat
  4. JJDLmoving

    Steps to financial emigration

    Hi all you financial brains I need to please clarify the steps needed to financially emigrate. Just some background info: Wife and I are still employed and will stop working in about Nov 18. We will be relocating shortly thereafter to Melbourne Steps?: Get Tax clearance certificated for both wife and I (how long are these valid)? Move to OZ and start living life there Submit final SARS Tax returns in July 19 Receive refunds into existing FNB accounts Close FNB account Submit SARS financial emigration documents (can this be done
  5. Mauro

    SARS Income Tax Address Details

    Hi, We have recently moved to Australia on a PR Visa and are busy completing our SA tax forms. I see that our tax forms on eFiling still have our South African Address and contact details and I was wondering if we should: Update them with our Australian details Update them to a relative in SA Just leave the address as it currently is My concern is that if we change it we may have to provide proof of this and it may be difficult from here, so I'm leaning towards option 3?
  6. Hi all, A general question in closing up affairs (including tax) in South Africa. We have sold our house in SA, but the 'capital gain' was under the threshold to pay any capital gains. My question is whether we need to disclose the sale of the house in our annual tax return to SARS or just leave it out as it falls under the threshold? Thanks
  7. Caz

    SARS - how to deregister

    Hi, I am hopeful that someone can help me with this. We currently have no assets, bank accounts, RA's or anything in South Africa. However, our SARS profiles are still active and every year I receive a reminder to complete my return (which I dutifully do). Every year I also end up having to send a letter, etc stating that we are permanent residents (hopefully citizens soon) and that we are filing zero returns. I am getting a bit tired of this run around and would prefer to deregister from SARS (or whatever the appropriate term is). Can someone please advi
  8. Lynnie

    Financial Emigration process..

    Hi Everyone, I need some advice, please? Hubby and I have been Australian Citizens (not dual) for 2 years now. Hubby still has an FNB account in SA as well as a retirement annuity and some shares. I have closed my FNB account years ago already. I only have a retirement annuity in SA. I have received the necessary forms from our retirement annuity funds, but I am unsure what to do first. Do both hubby and I need to open separate blocked accounts (and do we do this via SARB?) or at FNB? Do we request Tax clearance certificates from SARS or will our
  9. Hello, My father-in-law has to pay a SARS income tax bill of R2000.00. They do not have any SA bank accounts. I spoke to SARS and they gave me 19 digit payment reference : TaxfilenumberT00000000 Bank Account : SARS-FOR-999 and SWIFT Address: FIRNZAJJ The problem is when I go onto ANZ internet bank they can't accept a bank account with - . Any guidance on how to make this payment please let me know... Thanks in advance Terence
  10. Hi All I am in the process of doing research online in respect of closing off all my dealings with SARS. The process seems fairly complex and arduous. Could anyone provide me with the details of reputable, cost effective tax consultant who has successfully assisted them with this process? I am based in Sandton, Johannesburg, so somebody in close proximity would be preferred. Many thanks Dave
  11. SurferMan

    YEES!! Deregistered from SARS!

    I finally deregistered from the SARS money scheme. Got my letter today, after 2 years of fighting, squabbling and endless excuses, new requirements, documents etc from SARS. I eventually cornered the bastards and forced them to issue my letter to say I am no longer registered in the Republic of SA as a taxpayer and I have no account with them. What a blissful day. Thought I would share this great news with those of you who wish to do the same. It. Is. Possible.
  12. This question has been asked a few times in different ways - I've read the responses and I'm still a little confused. Hoping one of the resident experts here can guide me please. We will be heading over to Aus on a 457 visa. We are renting out our house so will be receiving some 'income' in SA. Question is - what do we do with our bank accounts in SA? I've read about 'blocked' accounts - does that apply to us on a 457? We will close all but one account and use that to receive rent and send funds to Aus. What about investments? Share accounts? Can I still trade equities online while in Aus on a
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