Inheritance tax only applies to gifts given by UK residents. If for example, the donor lives in Australia (no inheritance tax), gives a gift to someone living in the UK, they are not liable for inheritance tax.
I see on SARS website:
Who is liable for donations tax?
Donations tax applies to any person (for example: individual, company or a Trust) that is a resident. Hence, non-residents are not liable for donations tax.
Yo!
Question for those in the know...
If a person (foreign) purchases a UK property for a South African resident, do they need to pay SARS a % as donations tax?
Cheers!
Richmond is a really beautiful area, and I'd love to live there. But if it were my first time visiting London, I wouldn't recommend staying there. Too far out. And the District line can be crap - always delays.
Re the Premier Inn @ Kings Cross, how long are you in London and what are you planning on doing, or where are you planning on going?
You could certainly do far worse. Kings X station itself is an excellent base for getting around (almost every tube line intersects at Kings X) and the area...
Thanks very much for the response! And yes, she definitely would ;-) But based on what you've said, and what I suspect, I doubt that'd be possible. Will tell her to check with home affairs, but I doubt he has anything left here in SA.
Hi all,
I know a lady who got divorced 35 years ago, but just realised, after going through documents in her cupboard, that she neglected to actually lodge the papers. Meanwhile her ex-husband remarried overseas, had a child etc.
Can someone with expertise in this area please tell me if the...
You want compulsory voting in South Africa? Seriously? In one of the least educated countries on the planet? What we need is LESS people voting, not more.
Hi all,
Looking to offload our client base of shared web hosting clients to a reputable potential buyer who'll take great care of them.
215 cPanel web hosting customers + 17 cPanel reseller hosting customers (±500 cPanel accounts on server)
12 Plesk web hosting customers
±600 local domain...
Yes I do recall that as well. They used to limit to R1m, but can't find that anywhere either. Maybe it has changed with the regulations? Since SARB's regulations now stipulate "purchasing crypto from foreign exchanges".
Right, but that still doesn't answer the rest of my question, re transferring to a wallet. Otherwise what is to stop people bypassing the SARB foreign allowance by purchasing on Luno, transferring to a wallet and taking their money overseas with them. Or is the answer, absolutely nothing?
Irrelevant. Per SARB's website:
"Individuals may purchase crypto assets from abroad using their single discretionary allowance of up to R1 million and/or their individual foreign capital allowance of up to R10 million with a tax clearance certificate per calendar year."
Back to my Q, if I buy...