Will I be taxed on my overseas earnings?

By Marc Sevitz · Updated

I just have a question regarding foreign income. I am a South African resident for tax purposes, but I recently landed a job on a cruise ship overseas, which I will be starting in March 2014. I will be earning a foreign income which will be paid into my South African bank account. My contracts will be on a 4 months on, 2 months off basis, so I will be out of the country roughly 240 days a year, of which approximately 120 days will be consecutive. During my 2 months vacation I will not be earning a salary.

My query is whether I will have to pay income tax or not? What are the tax exemptions for the 2014 tax year?

TaxTim Marc

TaxTim Marc said:
17 January 2014 at 14:30

You will not have to pay tax on the overseas earnings as you qualify under section 10(1)(o) of the Act which exempts this kind of income.

Shanelle

Shanelle said:
17 January 2014 at 16:05

Thank you very much for your help
TaxTim Marc

TaxTim Marc said:
17 January 2014 at 18:58

Only a pleasure!
Salary / IRP5
Dividends
Foreign employment income