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R600.00 pp one way from Cape Town to JHB. Much cheaper than flights and more enjoyable. You can do the JHB to Durban cheaper.

Financial results out next week for CML.

Dunno but about 4 days ago she hit support and made a confirmed Morning Star Candle reversal. So up she goes.

Part two.

Now you are officially emigrated but will still keep your SA citizenship if applicable. ie You were a SA citizen. You do not loose it.

All your Capital Gains from stocks held in SA that are non property after you have emigrated will be tax free but if you are still a trader and sell stocks within the 3 year thingy then you will still pay normal tax as you are carrying on a trade in SA.

This is why I chose Portugal as they become a tax haven.

Before I get to this I must add that Portugal has a cost of living that is cheaper than SA especially in the North or inland. The South has become too British and expensive. I can live cheaper in Portugal than in SA. Some may say that Eastern Europe is cheaper and I agree but the winters are too harsh for me.

Back to the tax haven.
As a SA emigrant, I will not pay tax on my SA Capital Gains as I do not own property stocks. Portugal has a new system that allows immigrants to register as Non Habitual Residents and be tax free for 10 years to attract foreign money.

This means that I pay no tax anywhere. How good is that?

They also have a Golden Visa for non EU residents where you can get Portugal citizenship if you have big bucks or employ 10 locals. You will only pay 20% flat rate tax. No matter how big your business.

So if you are considering emigration, I would suggest Portugal.
 

 

 

 

You are a non resident temporally overseas according to SARS.
You have to file your e-filing every year and if you are considered as a trader in SA, then you will be a Provisional Taxpayer and must file twice per year plus the end of year normal tax.
Your gains as a trader will attract normal tax and you will pay tax on Capital Gains at 33.3% added to your yearly income that would be zero as you don't have other income here. Less the 30k exclusion.
Your income is taxed in Australia so it won't affect your SA stuff so I would not declare it. You can but it will not be included as SA only taxes at SA source and it was not sourced here.

That said. You have a predicament now. Once your SA stocks are held for 3 years, you will continue to pay CGT in SA on any disposals as long as you have not formally emigrated.

Once you have formally emigrated, your Capital Gains are tax free (for non property stocks) as is Divies and Interest. This, you may be taxed on in Australia at their rates though. You will have to do your own research there.
If you do get taxed there on SA stuff then it really makes makes no diffs where you pay it as the difference will be minimal and you get credit for any tax paid in SA due to the DTA.

As to your FX question. No ways. This is your prob and will have to live with it. Exchange rates and bank fees as far as I know are not tax deductible with money transfers.

You can officially emigrate without coming to SA to do it. I can give you details and it is not expensive. 




 

1533

Yes but only had about R300K in it so not too worried.