Ronel Talks Money: Expat Tax & Exchange Control
Introduction:
Many people are considering emigrating; or looking for a job abroad or would like to build an offshore investment portfolio. There is however no way to hide from paying taxes and it is important that people are aware of the tax implications also referred to as expat tax as well as any exchange control regulations that might apply before making these big decisions. In this Ronel Talks Money interview, tax expert and founder of @Wegkaner, Hugo van Zyl helps us to demystify the complicated topic of expat tax and exchange control.
A few of the questions we answer in this interview:
- Tell us more about @Wegkaner and what you do?
- Why did you decide to venture into expat tax and exchange control?
- Explain the concept of expat tax in layman’s terms?
- Explain the concepts of financial and tax emigration in layman’s terms?
- Tax impact if you remain SA resident but work abroad for a while?
- Tax impact if you reside in SA but start a business overseas?
- What to do with your SA assets if you want to emigrate?
- If you keep your primary residence in SA when you emigrate and sell it later, will CGT then be payable?
- Let us talk about the tax impact on retirement savings and emigration?
- What is the best way to build an offshore portfolio from a tax and legality point of view? What are the exchange control regulations investors should be aware of?
- What is your word of advice to people who are considering emigrating?
Recent ‘Ronel Talks Money’ interview: Money Market Funds
Related online course: Master Investments 101
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