Bulletin | October 14, 2021

Preserving Inter-Generational Wealth Through Succession Planning

An overview of International Pension Plans (IPP’s) One of the most important aspects of financial planning is ensuring the passing on of wealth to a spouse, family and future generations on one’s demise. However, this is one area of financial planning that can become very complex when the deceased person’s assets or accounts are in different countries, and this is
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Bulletin | September 7, 2021

Reporting Requirements for Modelo 720: OPES and COPIA

It is important to understand the obligations as a Spanish resident to report under Modelo 720. This Q&A considers such obligations in respect of Foreign Pensions offered by Overseas Trust and Pension (OTAP) including OPES (Spain) and COPIA. What is the Modelo 720? It is a report that is submitted online by a person who becomes resident in Spain within
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News | May 20, 2021

Taxation around Foreign Pensions – Judge Dennis Davis

On the 15th of May 2021, News24 issued a press release focusing on Honourable Judge Dennis Davis’s (JDD) speech at the Glacier International Webinar, where he spoke about taxation around foreign pensions. In case you missed it, we have provided a summary below. In short, JDD confirmed that the Davis Tax Committee (DTC) has made no recommendations in respect of
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Bulletin | April 15, 2021

Lifting of the Prohibition on Loops – Opportunity or Not?

On the 4th of January 2021, not only were South African residents already planning the normal “New Year New Me” resolutions, but the South African Reserve Bank (SARB) wasted no time by following up on their statements in the 2020 Medium Term Budget speech, pertaining to the abolition on the prohibition of ‘Loop Structures’. SARB Exchange Control Circular No. 1/2021
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Bulletin | December 5, 2020

South African Nationals Living and Working Abroad

This aid provides general information which may be useful to financial advisers who advise South African nationals, given the Tax changes which come into force in March 2020. It considers a number of related topics including residency, tax and several options available in respect of these. The content of the bulletin is referenced to specific sources which have authoritative standing
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Bulletin | December 5, 2020

Considerations Regarding International Employee Benefits & South Africans Working Aboard Post 2020

Overview Significant criticism has been levelled at the South African Revenue Services (SARS) and National Treasury given the repeal of the income tax exemption on earnings from foreign employment, which commences on 1 March 2020. The main thrust of this criticism has come from South Africans who are ordinarily resident for tax purposes and are i) permanent employees residing in
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