THE TAX LEGISLATIVE AMENDMENT CYCLE
With the Budget Address by Finance Minister Tito Mboweni having passed, it is useful to consider how the proposed tax amendments raised during the Budget Speech eventually become law. As a starting point, it is important to remember that the South African Revenue Service (SARS) does not make tax law. In South Africa, Parliament is […]
HOW WILL EXPAT TAX AFFECT YOU?
One of the most important announcements made by Finance Minister Tito Mboweni in his 2020 Budget Speech is the tax exemption threshold on “expat tax” that is being raised to R1.25 million as of 1 March 2020. “Expat tax” will henceforth be deducted from any foreign employment income (in excess of R1.25 million) garnered in by a South African tax resident who works abroad for 183 full days of a year (of […]