Specialising in tax and exchange control, Johan spent time with PwC in the UK, the financial capital of the globe, and on his return spent 3 years with PwC Cape Town in the Corporate International Tax department before joining STBB as a candidate attorney in 2011. Johan practices within the Corporate Commercial department and has extensive commercial drafting experience with a specific focus on business acquisitions, going-concern transactions and advises on tax aspects of commercial and property-related transactions. Since 2015 Johan heads the Non-Resident practice within STBB. His expert services range from assisting foreign investors in remitting their proceeds from fixed property out of South Africa and drafting and regularising loan agreements through the SARB to obtaining Tax Directives and various types of Tax Clearance Certificates from SARS. As an admitted attorney, conveyancer and registered tax practitioner, Johan’s skill set makes him an invaluable asset in advising and assisting STBB’s diverse clients.

Thought of the Week | Moved Abroad but Buying Property in SA

We receive many queries from South Africans who have moved abroad, seeking to buy property in South Africa and rent it out pending an anticipated future return.

If you have not formally emigrated and have a South African ID, you remain a ‘financial resident’ of SA. This means that you can remit R10 million abroad annually as an investment provided that you have a tax clearance certificate when remitting more than R1 million per annum, for example where you sell the property before returning to SA.

To ensure hassle-free payment of periodic rental income abroad, the lease agreement must be registered with the Reserve Bank who will in such case provide a specific reference number allowing the foreign transfer of such funds.

STBB’s Non-Resident Department can assist in the process, including registering the lease agreement with the Reserve Bank and applying for tax clearance certificates.

Contact us at STBB or on www.stbb.co.za