Important tax issues for South African expats returning home

May 23, 2022 | Financial Planning, South African Expats

If you are moving back home after living and working abroad, significant tax issues need your attention and consideration.

South African expats returning home

Many things need attention when moving home across borders, your tax affairs are one of the most important because they have a material impact on your overall wealth.

Inform SARS immediately on your return

Your tax position changes as soon as you return to South Africa. The onus is on the taxpayer to inform SARS of your change in status and meet your new obligations as a resident.

Repatriated funds

No tax is due on funds you take back into South Africa, so those funds are tax-free if you have grown a nest egg overseas.

However, pay close attention to exchange control regulations and ensure you meet all the criteria when moving funds.

Offshore Investments

No tax is due on any return your investments earned during your time overseas, and there is also no tax due on the capital sum held.

However, be aware that tax on the return on investment (ROI) measures from the day you return to South Africa as a tax resident to the date the funds are received.

Estate Tax

An estate tax is due on the full value of all your accrued assets on death, including any investments or assets held overseas.

Plan in advance

South Africans going back home should ensure they are fully aware of the financial implications of their return. Cross-border tax rules can be complicated, and it is best to be fully informed before you move, and your tax status changes. Advanced financial planning could mean significant tax savings and a trouble-free move.

To ensure your return home runs smoothly from a financial perspective, please book a call with Michele.



Schedule a call at a
time that suits you


To receive our regular updates


Get in touch anytime