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Articles by Niel Pretorius

  • carrot-incentive-running-track

    UK pensions: Between a QROP and a hard place? Or is it a damp SIPP?

    by Niel Pretorius | Jun 21, 2018
    Those who have worked in the UK for a few years, and then left to live elsewhere, will know just how hard it is to make sure your UK pension is both reasonably accessible and not overly taxed. Innumerable people from around the world have worked in the UK and have retirement savings from the work they did there. There has been a lot of noise in this space over the last few years, and a lot of unscrupulous advisors have made a lot of money as a result. If you have a UK pension and no longer live in the UK, then you need to continue reading.
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  • piggy-bank-dollar

    What to do with your living annuity when you retire abroad

    by Niel Pretorius | Jun 11, 2018
    If you have a living annuity in South Africa but no longer live in The Republic, you will need to make sure that you plan accordingly to minimise your tax liabilities in your adopted home.
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  • Hand-currency-blue

    Saying goodbye to South Africa? Financial emigration can give you access to your RA before you turn 55

    by Niel Pretorius | Apr 13, 2018
    South Africans who have already emigrated, or are thinking of doing so, have probably heard of the process of financial emigration. This process is more than just sending your South African assets overseas when you leave. Financial emigration allows you to withdraw and transfer your retirement annuities offshore before the age of 55. This way you don’t have to leave your retirement savings behind when you emigrate.
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  • Piggy-banks-thinking

    Financial emigration: Transfer your retirement annuities out of South Africa

    by Niel Pretorius | Oct 20, 2017
    If you’re a South African who is thinking about moving abroad, or who has already moved, you should consider financially emigrating. Among other things, financial emigration allows you to withdraw and transfer your South African retirement annuities offshore. Below is a case study illustrating the benefits of proceeding with formalising your emigration.
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  • man-pushed-over-the-edge

    The war on South African expats continues

    by Niel Pretorius | Aug 10, 2017
    South Africans working abroad are already reeling at the proposed repeal of the foreign employment income tax exemption, which was recently promulgated and is currently awaiting public comment. That’s not all though, the government has recently introduced a White Paper containing a further proposal that will have a dramatic impact on South African expats who are working abroad.
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  • Coin pile behind South African flag

    How SARS plans to target South African expats

    by Niel Pretorius | Jul 21, 2017
    Mark Twain said it best – “The difference between a taxidermist and a tax collector is that the taxidermist only takes your skin”. In the 2017 budget speech the then Minister of Finance, Pravin Gordhan, stated that the government intends to review the exemption on foreign employment income where a person works outside of South Africa for more than 183 days per year.
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  • tax-piggy-bank-man-running-web

    Nowhere to run: South African tax payers and the Common Reporting Standard

    by Niel Pretorius | May 04, 2017
    Martha & the Vandellas’ hit released 40 years ago seems more apt than ever. A government keen on increasing tax revenues at all costs and new international agreements between tax authorities across the world mean that if you are a wealthy South African you could find your international assets being taxed like never before. Before we explain what could be taxed, let’s take a look at how we got to this point.
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  • Skyline of Dubai with images of sunset

    South Africans working abroad: Protect your earnings from proposed SARS tax rules

    by Niel Pretorius | Mar 27, 2017
    If you are a South African tax resident working abroad in a country that does not tax you on domestic earnings, like the UAE and many other middle eastern states, you need to be aware that SARS is planning to tax you on those earnings. There are ways you can avoid paying South African tax on your foreign earnings and I strongly advise that you take a long hard look at your options before it’s too late.
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  • hourglass

    Inheritance Tax in South Africa – how the government is looking to increase tax collection

    by Niel Pretorius | Sep 21, 2016
    Government is always looking for ways to increase tax collection and in a society such as South Africa, where there still exists great inequality, the fiscus will look to the wealthy to fund it. Estate duty provides it with such a mechanism by effectively imposing a wealth tax on a person on death.
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  • lighthouse-night-ocean

    Offshore investment for South Africans

    by Niel Pretorius | May 26, 2016
    As a financial planner and offshore investment specialist at Sable International, I frequently help South Africans invest offshore. In this article, I answer some of the most common questions I get asked by these clients.
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