Big Bay Business Advisory

23/12/2021

#3 I have , and interests in South Africa. How are these affected if I formally emigrate.

In short, you can still be a shareholder of a business, you can still invest in SA and you can own property. However, do note that any income generated from these local interests and assets, will be taxed at source.

23/12/2021

#1 Defined:
Formal Emigration is the formal process to declare oneself as a non-resident for tax in South Africa. Formal emigration from SARS formalises your exit from South Africa. Financial emigration is one of the processes from the South African Reserve Bank that is required to finalise your formal application with SARS.
Considering leaving South Africa? Call us +27 65 672 3836.

23/12/2021

In our next content series, Krigan Naicker, Co-Founder of Big Bay Business Advisory, explains all things financial emigration and how you can comply with the updated requirements as set out by SARS in March 2021.

23/12/2021

" The Master’s Office has been overwhelmed, resulting in delays that affect the lives of beneficiaries and heirs. "

The pandemic initially highlighted the importance of emergency savings and risk cover – but other issues have appeared that investors need to be aware of.

29/11/2021

South Africa is in the Top 10 most heavily taxed countries around the world. For every R1 spent on petrol, 70c goes to the tax man. Scary right? Let us help minimise your tax burden, legally. Contact us on [email protected]

29/11/2021

Save tax by doing good. By supporting a registered PBO’s (Public benefit Organisation), you can deduct up to 10% of your taxable income. Any donations exceeding this limit are carried forward and can be claimed as a deduction in the following tax year. We can help you find a SARS approved PBO. [email protected]

29/11/2021

Did you know? As a parent, you’re able to open a tax-free savings account for your minor child(ren). There are some things you need to be aware of. Like if you do, any contributions you make to this account on their behalf counts towards their annual and lifetime contribution limit (R500 000 in a lifetime). We can help you set up all your tax free savings accounts.

29/11/2021

25/11/2021

On the lighter side 😂🤣😂🤣😂🤣

25/11/2021

💥. PRO TIP 💥.
Use a tax-free investment account to benefit from long-term tax savings. A tax-free investment account is a product introduced by government to encourage the public to save our after-tax money. An individual can invest R33,000 per year (up to a maximum of R500,000 over your lifetime) and benefit from growth free of dividends tax, income tax on interest and capital gains tax. Connect with us for more info. https://bigbaybusinessadvisory.co.za/

25/11/2021

‼ Reducing your estate by donating to the family trust. ‼

Each individual taxpayer may make donations up to R100,000 per annum free of donations tax. Such donations must be made in cash or kind. If one is using a trust for estate planning (or any other) purposes, such donations might be made to the trust. This has the effect of lowering the personal estate and increasing the assets of the trust. Both the taxpayer and spouse may make tax-free donations as described, provided this is done before 28 February. We can help. https://bigbaybusinessadvisory.co.za/