| Item | While resident | After ceasing residency |
|---|---|---|
| Tax on worldwide income | Yes | No, South African source only |
| Single discretionary allowance | R2 million a year | Not available |
| Foreign investment allowance | R10 million a year with AIT | Not available |
| Bank accounts | Resident accounts | Converted to non-resident accounts |
| Transferring funds out | Under the allowances | AIT TCS PIN, case by case |
| Exit tax | Not applicable | Deemed disposal of worldwide assets |
| Item | Rule |
|---|---|
| What triggers it | Ceasing to be a South African tax resident |
| What it taxes | A deemed disposal of worldwide assets at market value |
| What is excluded | South African immovable property, and some retirement interests |
| Rate | Capital gains tax at your applicable inclusion rate |
| When payable | In the year residency ceases |
| Asset | May still hold |
|---|---|
| South African property | Yes |
| A non-resident bank account | Yes |
| JSE shares | Yes, through a non-resident account |
| A retirement annuity | Yes, with a three-year lock before withdrawal |
| A tax-free savings account | Yes, but contributions usually stop |
Data maintained by TradeAnswers · updated as the figures change