Treasury takes aim at foreign pensions

March 24, 2025 By: Alfred0 comments

<p><img src=”https://biz-file.com/c/2503/768574.png” width=”240″ height=”135″ alt=”Treasury takes aim at foreign pensions” align=”left”><p>Section 10(1)(gC) of the Income Tax Act currently exempts, among other things, foreign sourced lump sums, pensions and annuities that are received by or accrue to a resident for past employment outside South Africa, except amounts from South African retirement funds or resident long-term insurers. This exemption was introduced into the Act when South Africa moved to a worldwide basis of taxation for residents in 2001.</p><br> <a href=”https://www.bizcommunity.com/article/treasury-takes-aim-at-foreign-pensions-258987a”>Read more…</a> | <a href=”https://www.bizcommunity.com/Request/SendToEmailRedirect.aspx?ct=1&ci=256360″>Email</a></p><div style=”clear:left”></div>