The UK Budget 2024/25 – the potential impact on South Africans
The Labour Party’s first budget was delivered on 30 October 2024 by Chancellor Rachel Reeves. In this article we highlight three main areas to consider should you or family members have investments or other interests in the UK: Currently UK tax residents are differentiated by determining whether or not they are UK domiciled or not. […]
Donations tax or not: SA trusts
Section 7C of the Income Tax Act, 1962 (“the Act”) was introduced to levy donations tax when assets are transferred by way of an interest free or so-called low interest loan to a trust. The implication of this section is that interest forgone on the loan is deemed as a donation with donations tax being […]
What does the first transfer pricing case in SA mean for you?
Just under 30 years after transfer pricing was legislated in section 31 of the Income Tax Act, the first transfer pricing case was decided by the Tax Court. In ABD Limited v Commissioner for the South African Revenue Service (14302) [2024] ZATC 2 (14 February 2024) (“the ABD-case”), the Tax Court ruled in favour of the taxpayer […]
South Africans relocating offshore: What you should know – Part 1
Moving is emotive, moving to another country even more so. Add tax consequences to the equation and you may just reconsider it. This article guides those seeking to move offshore through the maze of exiting South Africa with a specific focus on tax considerations in order to be proactive instead of facing a myriad of […]
Planning for the future and preserving wealth in volatile times
Source: MoneyWeb Planning for the future and preserving wealth in volatile times Gold remains ‘the ultimate store of value’. By Amanda Visser 9 Jun 2022 00:03 ___ Investors have been riding the volatility wave for years. In particular, they have experienced the implosion of IT shares with the technology bubble burst, the 9/11 terror attacks in the US, […]
Estate planning for South Africans around non South African assets
You may need a separate Will dealing with your non South African assets. A Will drafted and signed in South Africa may be, but is not always, sufficient to deal with your South African and non – South African assets. If you have, for example, externalised your discretionary foreign investment allowances and now […]