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Thuto says: 10 April 2022 at 12:37 I have a relative that has unfortunately passed on and I am the dependent that will receive all the savings from this relative- these savings are coming from an international bank account, in Norway. This would be my first time having to claim this and making sure that I do it correctly. What I would like to find out is, what would I need to do on my side to ensure that I am safe and clear with SARS and the laws of the country? |
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TaxTim says: 10 April 2022 at 14:51 Kindly note that foreign inheritances are not taxable in South Africa, you are however still required to declare this income to SARS, please enter this income on your tax return under the non-taxable income section of your return. You need to contact SARS or check your tax compliance via SARS on eFiling to see if your tax affairs are up to date as this might prevent SARS from issuing your tax compliance pin to the Reserve bank. Should you have any outstanding tax returns, you can use our site to submit it, please register with us and connect your eFiling profile to ours so that we can submit the return for you. |
