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The SAIT Accounting Officer
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Gain a competitive edge with SAIT’s new Accounting Officer designations
– supplementary qualifications that offer dual recognition under one professional
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Foreign Pension Tax Relief: What Treasury’s Latest Move Means for South African Retirees

Foreign Pension Tax Relief: What Treasury’s Latest Move Means for South African Retirees

SAIT welcomed the National Treasury’s decision to partially accept the withdrawal of the tax exemption under Section 10(1)(gC)(ii). This provides crucial relief and certainty for South African retirees receiving income from past employment abroad.

The initial proposal would have fully removed the exemption, making foreign retirement benefits like pensions, annuities, and lump sums fully taxable in South Africa. This could have jeopardised the financial stability of thousands who planned retirements based on the current tax framework. In this interview, SAIT’s Acting Deputy CEO, Keitumetse Sesana, examines the National Treasury’s decision and its implications for the South African tax regime, including SAIT’s pivotal role in submitting formal commentary opposing the full repeal.

30-minute audio

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