Tax Consequences of Offshore Transactions – Overview for Individuals

The aim of this session is to break down the core concepts of international transactions into simple language for individuals. This session will cover:

• 
  The concept of residence: When a person is "resident" or "non-resident"
  for tax purposes

• 
  How a non-resident is taxed in South Africa

• 
  Withholding taxes levied in South Africa

• 
  How residents are taxed on worldwide income

• 
  Residents working abroad

• 
  Foreign interest

• 
  Foreign dividends

• 
  Offshore businesses

• 
  Brief overview of controlled foreign companies

• 
  Relief for double taxation Double tax agreements
  

• Exemptions
  

• Foreign tax rebate

• 
  Tax consequences when a person ceases to be a South African tax
  resident