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...
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...