Advice and Support for South Africans Immigrating to New Zealand

South Africans Going To New Zealand

Author Topic: Tax Questions  (Read 1819 times)

Offline antonjl

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Tax Questions
« on: April 04, 2007, 07:42:36 pm »
Call me an  :idiot2: but I am actually considering selling the house,car etc and giving up my job....
Contacted estate agents today for proposals and the house might go on the market next week!
Taking a huge risk here but it somehow feels right....cant explain it.
The doubts are there....make no mistake about it.
The plan would be to get all documentation ready before leaving and submitting ITA in NZ and hopefully securing a job offer as well.
If worst comes to worst re time frame a second EOI will be submitted inc job offer which should fast track the process............
 :crazy2:
What does one do about a tax clearance without burning your bridges with SARS ie leaving discreetly?
Should one give someone power of attorney to take care on your behalf of such matters?
To file tax stuff even if you are not here?
« Last Edit: April 04, 2007, 07:47:26 pm by antonjl »



Offline Nolan

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Re: Tax Questions
« Reply #1 on: April 04, 2007, 09:53:34 pm »
Hi Anton, yes it obviously a risk, but you know your circumstances and what you are willing to risk.

Tax Clearances - you simply go to the tax offices and get a tax clearance form and fill it in, as I understand it takes a week or two to get clearance. If you want to leave discreetly, just NEVER mention that you are immigrating, especially to the bank - they are legally bound to close your accounts then  :police:

To get your money out, you need to open an overseas bank account and then through the bank transfer the money over. Tell them that you are going over on contract for a few years and need the money. You will need to prove where the money comes from (so they know it is not stolen). Your tax clearance will be needed to show that you don't owe the tax man any money.

ALWAYS give someone comprehensive power of attorney before leaving. Make sure it is somebody that you trust 200%. Also make sure ALL your post is redirected to their address, otherwise you may come back to a surprise ITC / summons or two. Leave money with your POT to ensure they can pay any outstanding bills that arrive after you have left.

See the Getting Ready To Move checklist

SA Going to NZ Advice Forum

Re: Tax Questions
« Reply #1 on: April 04, 2007, 09:53:34 pm »

Offline zatexnz

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Re: Tax Questions
« Reply #2 on: April 05, 2007, 12:07:57 am »
What we did was get the tax clearance, and on the form just stated we were going temporarily.  Then with the actual money - we left a positive balance in our credit card (in SA that actually accrues interest!) to be able to pay for some things, and keep our account "current".  Most of our money we took over as travellers checks - all R48000 of it.  And then paid that into an account here once we'd opened it.  That way they didn't think we were immigrating.
lekker sweet as, y'all
~ Colleen

Offline Happy Expat

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Re: Tax Questions
« Reply #3 on: April 05, 2007, 05:58:10 am »
We did the same Colleen! O0


Offline MJ

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Re: Tax Questions
« Reply #4 on: April 05, 2007, 06:08:00 am »
Hi there

It is not a big thing to get a tax clearance, just ask your accountant to organise it.  When my husband went to Australia to work we told FNB that we might be going overseas for two years and they gave us a letter of good standing.  At least with online banking most of us will be able to still transfer money and pay accounts.  I get most of my accounts emailed to me so I am going to keep my mweb account for a few months after we have gone.  I think it is good to put money in your credit card as it earns good interest and you can use your card anywhere if you need it.



Offline zatexnz

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Re: Tax Questions
« Reply #5 on: April 05, 2007, 06:19:01 am »
BTW, it was rather a shocker for us that we could not use our credit card as a savings here in the States, like we did in SA.   In SA, we earned (at the time) 11% interest on real money in there, vs only 7% on the normal savings account at the bank.  So we decided to use our credit card as our savings account, and then whenever we needed to buy a big item, or an emergency came by, we were paying with our own money, but with the convenience of a credit card.  NOt here (and probably not in NZ either).  Here, when we overpaid on what we owed on our credit card, they sent us a cheq for the difference!!!  :o   So now we only use the Credit card to get "points", and pay it off at the end of each month.  We don't like living in debt. :)
lekker sweet as, y'all
~ Colleen

Offline Happy Expat

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Re: Tax Questions
« Reply #6 on: April 05, 2007, 06:26:42 am »
It does work the same here with credit cards Colleen. :(
I think SA is the only place that you can save on a CC?? :(


SA Going to NZ Advice Forum

Re: Tax Questions
« Reply #6 on: April 05, 2007, 06:26:42 am »

Offline zatexnz

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Re: Tax Questions
« Reply #7 on: April 05, 2007, 06:37:18 am »
If it wasn't that the Rand was so weak in comparison, I'd invest all my money there, and just use the credit card overseas!    But somehow I just don't trust the idea of leaving my money there.... so I'll just take it along with me... 
Hmm.. wonder what the investment portfolios are like...
lekker sweet as, y'all
~ Colleen