226
Shares / Re: Investment Strategies for Nomads
« on: October 19, 2017, 05:05:18 pm »
That old law has been amended about 4 years ago but I have not yet read it.
If in any year you are not present for at least 91 days you will be regarded as non resident and all your assets will be regarded as sold on the day before you last left SA.
However, your primary residence will not be deemed as sold. Only when you actually sell it will CGT be apply.
SA has sole rights to CGT on all real estate but not movable property such as securities when you are non resident.
Don't take me advice as it gets complicated but get professional advice before you become a nomad.
If in any year you are not present for at least 91 days you will be regarded as non resident and all your assets will be regarded as sold on the day before you last left SA.
However, your primary residence will not be deemed as sold. Only when you actually sell it will CGT be apply.
SA has sole rights to CGT on all real estate but not movable property such as securities when you are non resident.
Don't take me advice as it gets complicated but get professional advice before you become a nomad.