Residency, emigration, the impact on your taxes
South African tax resident individuals are taxed on their worldwide income. You will be classified as a South African tax resident because, your intention is to be a tax resident in South Africa (your true home test) or you spend most of your time in South Africa on a continuous basis (physical presence test).
If you are a South African tax resident, you should declare, and potentially be taxed, on income from anywhere in the world. You can still be classified as a tax resident without being present in South Africa during a tax period.
Emigration and immigration have become a normal part of the global economy. Whether a taxpayer is leaving the country or deciding to make South Africa your permanent home there would be financial and tax implications.
No information provided herein may in any way be construed as legal and/or tax advice. Professional advice should be sought with reference to specific background facts before any action is taken based on the information contained herein. We hereby disclaim any responsibility should any person act upon the contents of this publication without due consultation.
PKF South Africa Inc. is a member firm of the PKF International Limited family of legally independent firms and does not accept any responsibility or liability for the actions or inactions of any individual member or correspondent firm or firms.