Tax and emigration
By Marc Sevitz · Updated
As someone who was born in South Africa and have always resided in South Africa what are the tax implications if I decided to emigrate? Is there an exit tax?
There is no exit tax as such, but you are deemed to have disposed of all your assets and will pay CGT on those disposals.
Once again thank you for your assistance. CGT would only apply to the sale of property, shares etc. not the cash you have in the bank - is that correct?
That is correct yes, cash never carries a CGT element.