Accessing retirement fund withdrawal benefits on emigration – changes effective 01 March 2021
The Taxation Laws Amendment Act 23 of 2020 (TLAA 2020) was passed into our law books on 20 January 2021. In doing so, changes were introduced that effectively reset the opportunity in our tax law that allowed South African tax residents to access their retirement fund...
Can I Cash in My Retirement Annuity Early in South Africa?
If you have been doing some research into how emigration impacts on retirement annuities in South Africa, you will probably have stumbled across the fact that most South Africans end up cashing in their retirement annuity (RA) when leaving the country. Most people...
Cashing In Your Retirement Annuity Early – The Rules Are Changing in 2021
If you’re a South African expat living abroad with retirement funds back home, pay close attention. Changes that were made to tax laws last year effectively seek to prevent South Africans who no longer pay tax in SA from withdrawing their retirement funds until they...
The Expat’s Guide to: Buying Off Your Retirement Annuity
South Africans currently living abroad have until 28 February 2021 to use formal emigration as an immediate means by which to access their retirement annuities early. Thereafter expats will have to show that they have ceased to be a tax resident for a period of three...