Advice and Support for South Africans Immigrating to New Zealand

South Africans Going To New Zealand

Author Topic: Tax man (SARS) query  (Read 1454 times)

Offline Gazza2015

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Tax man (SARS) query
« on: March 18, 2015, 10:34:40 am »
Howdy Everyone

For those who have recently made the move, what did you do in terms of notifying SARS about your move... or didn't you say anything? :confused:

I definitely don't want to get arrested in a few year's time when I go to SA to visit family.

Thanks
G

Offline Katvis

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Re: Tax man (SARS) query
« Reply #1 on: March 18, 2015, 10:59:27 am »
Following....

SA Going to NZ Advice Forum

Re: Tax man (SARS) query
« Reply #1 on: March 18, 2015, 10:59:27 am »

Offline iduncan

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Re: Tax man (SARS) query
« Reply #2 on: March 18, 2015, 08:31:01 pm »
Hi,

I went to SARS before I left for China last year to ask this question, because I heard that you need to notify them when you leave the country. They told me that I don't have to inform SARS of anything unless I emigrate for good. The officer said that it is only important to do so if you bring back a lot of money to SA "of which no tax was deducted in the country it was earned".


The only thing I did was to get a tax clearance certificate from them, to show that I don't owe them anything. If I were you, I would just give them a call to be sure.

It is, however, very important that you notify your bank.

Sorry If this is not much help to you.

Offline Zedd

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Re: Tax man (SARS) query
« Reply #3 on: March 18, 2015, 10:31:27 pm »
NZ has tax agreements with SA.  If you live and work in NZ, you pay tax here and not in SA and vice versa. I'm not an accountant. If you "financially emigrate", then you close all your SA bank accounts and are able to prematurely withdraw your SA pension (16% tax) plus all the other fees of people like Cashkows that notify SARB and SARS and hunt around for any monies that may be stashed in policies.  You can't go back and work in SA for 5 years after that or SARS will nail you with extra tax.  There's all sorts of discretionary allowances that will enable you to move your money (R1 mill - but few people need to worry about that one lol) per annum.
18 March 2013 - EOI submitted
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Offline DavidInNZ

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Re: Tax man (SARS) query
« Reply #4 on: March 20, 2015, 12:21:40 am »
Tell banks and SARS only on a "need to know" basis, and if you have to, say you are planning to come back in a year or two. We have been in NZ for just over a year now, and we have not told anyone. We only just informed SARS that we are no longer tax residents, but that we are planning to come back within a year or so. We did close most of our bank accounts, but now have to open new ones so that our tax refunds can be paid directly into them; it can be done but it is difficult. Rather open savings accounts for all members of the family while still over there (minimum monthly fees e.g. Capitec), make sure that your internet banking works properly, and then you can always close them once you have been here for a while. Also, keep in mind that any income from renting out your house (while e.g. waiting for it to be sold), would be tax free. You are being taxed on this side only on your NZ income for the first 4 years, and since you have left SA, you are not liable for any tax on that side.