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...
Tax Law Changes 2021: What Happens To My Pension Or Retirement Annuity If I Emigrate?
The rules are changing. In 2021 the formal process of financial emigration through the South African Reserve Bank will be phased out. What does this mean? It means that South Africans who move abroad will no longer be able to use financial emigration as a way to...
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...