Hi Gail
You are welcome to refer SA & non resident clients with tax , capital gains tax , immigration tax and exchange control queries to me.
If they sell a property for more than R2 million then 5% needs to be paid over to SARS according to Section 35A. I am nearly always able to get clients a tax directive for a lower amount. I do not charge for doing the capital gains tax calculation, but will quote for a tax directive application, if it is worth it .
You might not know but if non-residents hold 20% or more of the shareholding of a South African company(or Close Corporation), then 7.5% needs to be withheld as a "provisional capital gains tax payment"! Here again it should be possible to get a tax directive from the South African Revenue Services for a lower amount.
I could also assist with:
Advice on the entity that one should use on buying property(register in one's name or also in spouse's name or in CC or PTY or Trust; advising on the different tax rates applicable and the risk)
Assisting clients with Foreign Investment Tax Clearances to get money out of the country and other Reserve Bank rules.
Assistance with capital gains tax calculations
Assisting non-resident clients with Section 35A applications on selling property for more than R2 million (I'll do the capital gains tax calculation free of charge).
Advising clients on what is deductible against rental income(and also if an expense is in nature "income" or "capital")
Assisting clients with income tax registrations
Assisting clients with submitting income tax returns.
Assisting foreigners in opening bank accounts in South Africa and in transferring money from South Africa.
Please do not hesitate to contact me should you have any further queries.
Yours faithfully