TAX, MONEY, BANK ACC

[SalomeCilliers]

Good day,

I do not understand we are not going to the financial immigration part.

 

Bud still want to close all bank accounts.My husband is the main applicant.

Do i also need Tax stuff?Dont know how to really explain sorry about that. 

[Hugo2]

Hi

 

I do not really understand your challenge or frustration, but allow me to give you some tips

 

Whilst you have an active SARS number, be careful in closing your SA bank accounts. SARS will pay refunds to foreign accounts, but it is not an easy process

If you on a PR and have NO but NO SA assets, no RA, no preservation fund, yes close your tax file in SA, no formal emigration required

 

If you on a 457 you are liable for tax filing in SA- http://www.thesouthafrican.com/do-south-african-expats-need-to-file-a-south-african-tax-return/

 

Read also

http://www.thesouthafrican.com/south-african-taxpayers-and-the-exemption-on-foreign-income/

 

 

You refer to main applicant: in respect of what is this application? SARS deals separately with each spouse. We have no joint account options in SA. It is either your account with co-signatory or agent or is is a partnership account (as in business account)

 

In de-activating your SA SARS number, ensure you forward a copy of the tax residency certificate obtained from ATO, ensure you have reply from SARS

 

http://www.sars.gov.za/ClientSegments/Individuals/Tax-Stages/Tax-and-Non-Residents/Pages/default.aspx

[SalomeCilliers]

Thank you for all the info..

 

I am Married in Community of property.. 

So i wasnt sure because of that if i also need to show any docs regardig the SARS .. 

 

We do not have a house or anything on our name exept the Car payment from Nedbank.. Bud we are planing on selling before we go.. My Salary goes into my Hubbys account... 

 

So the finance part i struggled with wasnt sure about things..

 

 

[SurferMan]

Hi SalomeCilliers,

 

You only need to file tax returns for one year. I stopped filing after I was in Aus 1 year, cos I think the rule states if you are gone more than 183 days and your primary residence is no longer SA and you do not intend to return. @Hugo2, SARS told me that when I left SA I was supposed to tell the Reserve Bank I was leaving and SARS and that I was meant to "financially emigrate" But I refused and told them I had no assets, no money, no RA etc as you mentioned earlier, so whats the point? 

 

They resisted paying me in Aus, but in the end they relented. They are bound by law to refund in any currency to any recognised bank in the world, but as you say they are a pesky bunch. Salome, make SURE you get issued with a Tax Clearance Certificate that shows you are in good standing with SARS. If I were you keep your nose clean. 

[Hugo2]

On 1/16/2016 at 4:28 AM, SurferMan said:

Hi SalomeCilliers,

 

You only need to file tax returns for one year. I stopped filing after I was in Aus 1 year, cos I think the rule states if you are gone more than 183 days and your primary residence is no longer SA and you do not intend to return

 

 

Hi, this is not true - the rule says that if you out 183/60 days then you are not taxed in SA on Australian earnings. The days test does NOT speak to tax filing obligation.

 

You are tax resident until the day you are ATO tax resident on worldwide income; that could be on day 2 of your arrival. 

 

What permit /visa / passport are you on?

 

457 work permit residents are resident tax worldwide in SA and in Australia you file Oz source income ONLY. Then you need to file tax in SA until you obtain Oz PR or marry an Oz national 

[Hugo2]

On 1/16/2016 at 4:28 AM, SurferMan said:

They are bound by law to refund in any currency to any recognised bank in the world, but as you say they are a pesky bunch. 

 

 

they are obliged to pay you in RAND to any bank account wherever in the world, provided that you have no bank account in SA and that you have notified you your bankers in SA that you are  a residents temporary abroad. The debt equalisation team in Centurion will insist on a letter from your bank confirming that you have signed the temp abroad undertaking. In the old days that included an undertaking to cancel your SA credit or not to sue your SA credit card. The minute you retained a SA credit card you lost the right to be refunded wherever in the world. You then stuck to taking payment from SARS in CMA area. So the general statement above rings true but ignores a lot of ifs and buts

[SurferMan]

Agreed, and also shows just varying the "advice" from SARS can be, depending on whom you speak with. I should have said in Rands to any target currency you account is held in. In my case they converted Rands to Aussie Dollars.