Please HELP with tax clearance!!!!

[LouisB]

HI Gee gou raad asseblief,

I need to fill in the form to get tax clearance to invest my money in Aus.

I do not know if some of the questions on the forms are loaded and have WRONG answers.

Q1 What type of investment are you going to make?

should i say a residential property that I will stay in Or is that incrimminating and the wrong answer

Should I say shares or fixed deposit I dont know

Q2 I must supply an asset and liability statement and it will be obvious that I have liquidated my whole estate

dont own a car or a house no more? and have no debt at the moment.

This all looks like a person leaving the country Is this gounds for SARS to be dufficult?

Has anybody got thoughts or some experience on this matter

PLEASE HELP.

Julle kan in afrikaans ook antwoord

Groete

LouisB

[Pixi]

Louis, hulle het geen been om moeilik te wees - so op assets en liabilities sit jy basies net jou geldwaarde . As dit geld in die bank is, noem dit Bank en as dit geld is wat jy in die geldmark of op ander beleggings het, noem dit investments. Het jy al die huis aan die anderkant reg, of gaan dit 'n paar maande vat. As dit 'n rukkie gaan neem, dan se jy fixed deposit en sit jou geld op 'n vaste termyn. As jy reeds besig is om die huis te koop, dan se jy vir aankoop van belegging in eiendom. Moenie se of dit jou ouma of jouself of die kat is wat daar gaan bly - jy volunteer nooit onnodige inligting .

[PFP]

Fortunately moving to another country is not a crime.

Louis, remember this form is used for people living in SA and wanting to invest offshore as well as people leaving the country. Therefore SARS want to know what investments will be made with the funds as foreign interest and dividend returns are taxable in SA for the local investor subject to the applicable tax free limits. Once you are in Aus for 6 months the interest income is no longer declarable in SA - although the Aus authorities will then claim their share.

Regarding assets and liabilities - SARS require this to verify that you have the funds to move and that they are aligned with your income. Eg if you have been earning an average income of R80k per year for the last 5 years as declared to SARS and now suddenly want to move R2m they are going to want to ask how you could afford to accumulate these assets on such a low income.

Bottom line, if your financial affairs are in order and you have always played ball with SARS, then there is nothing to fear. My personal experience is that they are more helpful than one realises. The easiest & quickest way to get your allowance completed is to go to a SARS office and discuss with one of the client service agents.

Remember, you need to take along proof of your assets so will need bank & unit trust statements, property transfers docs etc.