Immigration South Africa
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Visas

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.

Foreign Exchange

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.

Property

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.

Tax

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.

Insurance

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.

Banking

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.
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South Africa Personal Taxation

Background

South Africa operates under a residency-based system of taxation.
In essence this means if one is viewed as resident for tax purposes, you are liable to taxation on your worldwide income. It does however have in place a dual taxation agreement with most European countries, specifically to ensure fair and equitable treatment of an individual.

Your positions inside South Africa are to be one of a financer, shareholder and employee.
Each of these positions can carry with it different tax implications:

Financer – in this capacity you are lending money to the Closed corporation, in terms of the actual loan there are no tax repercussions, however the charging of interest is liable to income tax.

Shareholder – profits that are distributed via dividends are taxable within the Private Company (normal company tax 29%, secondary tax on dividends).

Employee – should the Pty be employing you, it will have to register you for SITE or PAYE depending upon your remuneration package.

There is an overriding factor in residency-based taxation and that is the source of the income.
If the source is from an employer based within South Africa it is liable to taxation.

As with most countries, SARS dictates a level where one must register for income tax, currently R60 000 per annum.

Employers are obliged to register for SITE or PAYE.

Value Added Tax (VAT)

  • In terms of VAT registration businesses are required to register for VAT where turnover of in excess of R300 000 in a 12-month period is expected to be exceeded.
  • Where turnover is less than R300 000 but exceeds R20 000 (R60 000 in the case of commercial rental establishments) in a 12 month period the owner/s may volunteer to be VAT registered.
  • Where turnover is less than R1 000 000 in a 12 month period VAT returns can be completed every 4 months, if less than R30 000 000 then every two months.

Please get in touch with us for a consultation on taxation issues!

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