Intergate Immigration Service has an expert team of immigration consultants and certified Home Affairs practitioners. The team has the latest knowledge on immigration legislation and has well established researched information on expected relocation procedures and changes.
Exchanging money can be a daunting experience. Our well-informed experts can save you avoidable charges. Incompass Financial Solutions will guide you through the exchange process. The experts will advise you on the best solutions, whether it is a lump sum of money or a staggered monthly transaction.
SA Homebuyers has been established with the aim of providing a sophisticated property buyers service. Acting as an independent property consultant, the service provides an unashamed bias towards protecting the buyers interest and assists in securing you the right property, in the right area and at the best price.
Seeking tax advice is never high up on anyone's shopping list, however the perception that tax advice is a necessary evil is not always correct. Yes it is true that tax advice helps you to comply with legislation and ensures compliance but it can also offer the opportunity to structure your affairs in the most tax advantageous fashion.
Whether it is house and home, car insurance, medical aid or commercial cover, Incompass Insurance offers a free and independent assessment on your specific insurance needs. Furthermore, Incompass Insurance is one of the biggest guest house insurance brokers in South Africa.
Opening up an appropriate bank account in South Africa often proves more difficult than you may think. We are able to provide our clients with advice on local banking, cash accounts for lump sums and Swiss banking.
Below we take you through the main South African Personal Taxes:
South Africa personal taxation is calculated on a residency based system. This means that no matter where the income comes from residents must pay tax.
That said, the tax system does allow for some exemptions for certain types of income and double taxation agreements are in place with many countries allowing credit for foreign taxes paid.
If the person is a Non South African resident, tax is only payable on their South African income.
Capital Gains Tax
Capital gains tax is a direct personal tax which is payable when certain assets are disposed. Disposal includes:
The sale of an asset;
Donation of an asset;
The loss or destruction of an asset.
Capital Gains tax is the disposal proceeds minus the base cost, the gain (profit). The first 30,000 gain is exempt and thereafter 33.3% of the gain is added to your income and tax is charged as per the income tax schedule.
Once again transfer duty is a direct tax that is levied on the taxpayer when they purchase a property.
Donations tax came to being as a measure to counter accordance of estate duty (inheritance tax). Each year an individual may donate 100,000 rand; any amount over this is taxed at 20%. Donations between spouses is exempt.
For South African residents duty is payable on the entire estate, for non residents it is payable on South African assets only. As per donations tax, Estate duty is levied at 20% on the estate but with the first 3.5 million rand not dutiable. This is increased to 7 million rand in the event of it being a married couple.
VAT (Value Added Tax)
An indirect tax which is payable on goods or services purchased at a rate of 14%.
Finding out more about South Africa Personal Taxes