South African tax refund

We’ll evaluate your situation to verify if the SARS assessment and tax paid were correct. This is done at no charge to you as our policy remains – no refund, no fee.

Tax refunds for South African expats

FinGlobal specialises in reclaiming overpaid tax from the South African Revenue Service (SARS). We focus mainly on individuals who have moved from South Africa either to a new country of residence or returned to their native country.

How it works

We’ll evaluate your situation to verify if the SARS assessment and tax paid were correct. This is done at no charge to you as our policy remains – no refund, no fee. You’re most likely to get a refund if you:

  • Only worked for part of the year
  • Received a lump sum payment (such as a bonus or redundancy)
  • Had more than one employer during the year
  • Received interest income in South Africa

Earning less than R350 000 per year

Currently an individual who earn less than R350 000 per tax year is not required to submit a tax return to SARS, subject to certain qualifying criteria. Since it’s not a requirement, many individuals don’t file tax returns and miss out on potential tax refunds. A possible refund might be gained from retirement annuity contribution or medical aid expense claims.

Service outside South Africa

When an individual renders services outside South Africa they could qualify for an exemption should they meet the qualifying criteria. The remuneration derived from these services will be exempt from South African tax. Under normal circumstances employers don’t take this into account when calculating the PAYE to be deducted. The individual will therefore have to claim an exemption upon submission of the tax return in order for the tax to be refunded.

Double Tax Agreement

Withholding tax on interest is a tax charged on interest paid to a foreign person from a source within South Africa, which is currently set at a final withholding tax rate of 15%.

An individual may qualify for a reduced rate in terms of the Double Tax Agreement (DTA) between South Africa and the applicable country of residence. The reduced rate is not automatically applied since an individual is required to submit a Withholding Tax on Interest Declaration to the interest payer. It is therefore possible that the payer deducted withholding tax at a higher rate, and the individual will be required to request a refund for the overpaid tax. An application must be submitted to SARS within three years after payment of the interest. The withholding tax will subsequently be refunded to the non-resident.

The FinGlobal solution

These are just some of the causes which might trigger a tax refund. However, every individual’s situation will be different and therefore needs to be reviewed independently. If you would like a free assessment simply leave your details and a very brief explanation of the tax matter you want us to investigate and we’ll contact you!

Get a free tax refund assessment

Leave your details below.

 

 

 

 

Licensed South African Financial Services Provider FSP # 42872

Exchange rates

Can't find your country? Contact us

 

Other services

 

Please Call Me

We’ll answer all your questions

Free Financial Report

Get a FREE financial report on your South African policies

Our Fees

View information on our fees

Frequently Asked Questions

Have a question? Look at our FAQ’s or request a call back

Client testimonials

Thank you FinGlobal (previously cashkows)! This was easier than we initially thought. Effortless. Highly recommended.

Anita Coleman Paulsen

This is the third time I’ve received excellent service from FinGlobal (previously cashkows) – you guys are amazing, thanks for your professional assistance.

Adrienne Samson

Is the expat romance with the UK and USA over?

The UK and the USA have always been two top expat destinations. But in the past year political and economic uncertainty in both these countries are...
Read More

7 American meals, you just have to taste

July is a big month in America. The fourth of July celebrations are anticipated throughout the year and many towns don’t just celebrate the day –...
Read More

Expats around the world called to assist on Nelson Mandela International Day

The Nelson Mandela Foundation (NMF) has urged South African expats and the international community to use this year’s Mandela Day to identify and...
Read More
Let us call you for a FREE consultation

We’ll answer all your questions. Your personal consultation is completely free and without obligation.

Please Call Me
Request a call back        Please Call Me

Welcome to FinGlobal - previously Cashkows.com

If you have any questions let us call you back and we'll answer all your questions regarding our services for South African expats.


 





You have Successfully Subscribed!