This has been a hot topic and we have been preparing for these changes for a while, but let’s break it down to understand why this is now important and needs to be considered per individual.

If we go back to what the act says about residency, in South Africa we have a tax-residency based system. This means that South Africans are subject to tax on worldwide income. You are a SA resident if you are ordinarily resident (defined in common law) in South Africa during a year of assessment.