SARS Earnings Exemption 2014
<h2>The South African Revenue Service Earnings Exemption 2014</h2>
South African resident taxpayers who work abroad still need to declare their foreign income in their individual income tax returns. This income can however be exempted from South African tax by claiming a tax exemption where certain conditions of absence have been met. These conditions are:
- It must be employment income; and
- The income must be earned while you were working outside South Africa; and
- The time that you must have been outside South Africa on work must be more than 183 days in any 365 day period and of this 183 days 60 days of absence must have been continuous; and
- The income must become taxable in your hands during the 365 days referred to in the previous point.
This is an important exemption and South Africans working abroad must plan the effect hereof carefully to ensure that they qualify for the exemption.
If you have any questions relating to these exemptions / deductions please contact us on 011 447 8823 Today to speak to a consultant for FREE.