BarryHeyns Posted October 23, 2017 Report Share Posted October 23, 2017 Good day Is it possible to transfer our provident fund amounts to Aus? Do we need to financially emigrate to do this? We still have property in SA which we might not be able to sell before heading over, I assume this will make it impossible to transfer our provident funds also? Regards Barry Quote Link to comment Share on other sites More sharing options...
ChrisH Posted October 23, 2017 Report Share Posted October 23, 2017 7 hours ago, BarryHeyns said: Do we need to financially emigrate to do this? Yes. We're in the same boat, house has been sold and transfer papers almost signed. This is a long process, as far as I understand it you have to close down all of your tax returns in South Africa before you can do a financial emigration so I have to wait until next tax year (and the house to transfer) before I can start the process. Quote Link to comment Share on other sites More sharing options...
Leroy Posted October 24, 2017 Report Share Posted October 24, 2017 Hi Barry / Chris We are also faced with the same problem. Do we have any clue how long the financial immigration process takes? I have heard of people that do it from AUS side but that's a lot more admin and I guess a lot of people need access to the RA's and provident funds for the journey. Quote Link to comment Share on other sites More sharing options...
Tiermelk Posted October 24, 2017 Report Share Posted October 24, 2017 My understanding is you don`t need to do financial emigration for provident fund withdraws and one allowable withdrawal from a preservation fund but it is required for RA`s. Some info here -> https://www.10x.co.za/blog/emigration-and-your-retirement-fund 1 Quote Link to comment Share on other sites More sharing options...
ChrisH Posted October 24, 2017 Report Share Posted October 24, 2017 15 hours ago, Leroy said: Hi Barry / Chris We are also faced with the same problem. Do we have any clue how long the financial immigration process takes? I have heard of people that do it from AUS side but that's a lot more admin and I guess a lot of people need access to the RA's and provident funds for the journey. I wouldn't recommend people to depend on their RA's or provident funds to fund their emigration, you have to have savings or profits from a house sale as the financial emigration process will only happen about a year after you get here, at the very least you can only kick off the process once you've done your final tax return for the previous tax year. In my case, I have to wait until the 2017 tax year is closed off because I earned a salary in South Africa for 3 months into the tax year. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.