Is foreign exchange taxable?
By Marc Sevitz · Updated
If I pay directly into the bond, I fear it will get lost in a foreign exchange holding account. But if I send to my current account and then transfer I have more control in clearing it.
What do you suggest?
If you are not paying tax in SA because you are either a non-resident or not earning in SA or exempt from paying tax due to employment then sending money to SA to pay off your bond will not be taxable and can be done either by transferring to your own account or directly into the bond.