The disconcerting number of high-net-worth individuals and their families leaving South Africa continues to erode the South African tax base, not just in the number of registered taxpayers but in the actual amount of tax which these individuals contribute to the fiscus, whether in the form of personal income tax, capital gains tax or estate duty.
You might be wondering: What is National Treasury and SARS doing to manage this base erosion and what new revenue streams or focus areas will they introduce in order to make up for this loss?
The following question might be at the back of your mind: What tax and emigration considerations would these high-net-worth families leaving South Africa need to take and what are the tax consequences for the remaining wealthy families?
In this webinar, we unpack and explore the following key questions and issues:
- Qualifying as a high-net-worth individual.
- Recap of the concepts of resident and non-resident.
- Family trusts and other topical tax implications for the high-net-worth individual.
- Tax emigration options post-financial emigration “switch off”.
- Tax emigrated – are you now tax and estate duty-free? Or estate duty, the expats conundrum.
- Investor visa tax benefits – why the new foreign tax-free life is tax costly in SA
- The South African Trust – now a foreign or offshore trust subject to anti-avoidance rules.
Recent developments will be unpacked, including amendments in the draft tax legislation regarding the three-year rule, Excon changes regarding loop structures, tax treaty provision, USA throwback tax and UK/AUS anti-avoidance rules against tax immigrant funders.
Hugo van Zyl
CA (SA) TEP MTP(SA) MCom (Tax)
Tax Director, BDO
SAIT member: R395
Other members: R475
Company Price: R950
This event and successful completion of the online assessment will secure 2 hours verifiable output Tax CPD points
Time: 15:00 – 17:00