Around 23,000 tax residents leave South Africa each year – and government is about to tighten the noose. The Budget Review 2021 includes a proposal to impose a deemed retirement withdrawal tax on retirement assets of emigrants as an exit tax.
Finance Minister Tito Mboweni tabled a taxpayer-friendly Budget, which has taken into account the enormous strain that the COVID-19 pandemic has placed on households and businesses.
At WJ Mitchell and Associates we offer a full accounting service, taking time to get to know you, our client and the culture of your business, this enables us to offer the correct service and financial guidance tailored to each and every statement of the market.
We have a feeling and stand in agreement with Josh Graff in the article below that we'll end up looking back at 2020 as a watershed moment for wellness. It's a time when wellness stopped being a buzzword that people referred to now and then – and started being an issue that businesses need to seriou...
From 1 January 2021, there is no longer a prohibition on loop structures in South Africa. This is a significant exchange control relaxation that will impact many structures for both corporates and individuals, says Peter Dachs, executive at law firm ENSAfrica.
In a nutshell, if you’re planning on relocating, or have already moved abroad, financial emigration from South Africa can help you access and transfer your financial assets out of the country. However, this type of formal emigration does not mean that you are automatically considered a non-resident ...
