Please find below an article from Kevin Lings, Chief Economist, STANLIB: In 2019 the Rand strengthened by 2.8% against the US Dollar, after depreciating by -13.9% in 2018. In 2017 and 2016 the Rand had strengthened by 10.5% and 13.2% respectively, after collapsing by -25.4% against the US Dollar in 2015. Clearly the Rand is…
We have faced situations where distributions to beneficiaries of offshore trusts are problematic where the recipients are tax resident in various countries around the globe, such as the US, UK, Australia, Israel and Europe. We’ve asked Robyn to provide her expert insight, the first jurisdiction she is focussing on is the US, with the other…
With 2019 rapidly unwinding, it is an opportune time to reflect on the year that was and to cast our eyes ahead to 2020. But first, let’s rewind to 2017, an uncertain and difficult year for South Africa’s economy. As we sat on tenterhooks to find out who would lead the ANC and the country,…
The step change in the Government fiscal numbers depicted in the Budget in Feb 2019 compared with those released in the MTBPS in Oct 2019 – only 6 months later – cannot be ignored Obviously the Moody’s credit rating announcement scheduled for tonight is a primary concern for the financial markets and SA’s inclusion in…
High net worth families used to rely on creating a trust as a tax-efficient vehicle for growing their assets and passing wealth from generation to generation. But tax authorities and governments around the world have tightened up laws and regulations to prevent the affluent from using trusts to shield their income and capital gains from…
Despite some blonde global leaders recent efforts, the world is more open to emigration than ever before, capital knows no borders, and it’s increasingly common for the members of a mid to high-income South African family to be scattered around the globe. From the young professional working in Dubai for a few years before returning…
With more and more people formally emigrating from South Africa, many because they have been advised that emigration automatically terminates one’s tax residency in South Africa, it is worthwhile revisiting how one ceases to be tax resident in South Africa and the South African tax obligations of the termination of South African tax residency. An…
National Health Insurance (NHI), the Public Protector, Eskom, ANC infighting, Trump, Trade Wars, the Fed… the list goes on. These are all factors that have been impacting the rand of late and may continue to do so for the foreseeable future. The rand fell by 12% in 24 days from its intra-day low of R13.80/$ on…
With the change to the exemption for foreign-earned income coming into effect on 1 March 2020, many expatriates are being advised to financially emigrate in order to ensure that they are not taxed in South Africa on their world-wide income. Such advice is not necessarily correct and will depend on the factual circumstances applicable to…
