ADDITIONAL MATTERS OF INTEREST

    
         
    Taxation of foreign employment income

SA tax residents who work abroad and spend more than 183 days a year, of which 60 days are continuous, outside of South Africa, will be liable for tax on remuneration exceeding R1 million per annum (subject to the relevant Double Taxation Agreement).

(Effective Date: 1 March 2020)

Tax treatment of amounts received by or accrued to portfolios of collective investment schemes

Treasury has withdrawn its proposals to tax the profits of some collective investment schemes as revenue rather than capital. National Treasury has, however, agreed to work with affected stakeholders during the 2019 legislative cycle to find solutions to address the taxation of trading profits.

If you have any questions, or you would like more information in this regard, please contact your Relationship Manager. 		   
         
 
 
  Please note: The material contained in this document is for general information purposes only and does not constitute tax or investment advice.  
 
 
     
 

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