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tanyavdwes

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About tanyavdwes

  • Rank
    Member

Profile Information

  • Gender
    Male
  • Location
    Cape Town,SA
  • First Name
    Tanya
  • Last Name
    vd Westhuizen
  • SA Location
    CT
  • Language
    English
  1. Hi all, In amidst the chaos of last week where the South African Rand was sorely punished for the removal of Finance Minister Nene there was a little bit of good news for South Africans living abroad who still have funds in SA. The South African Reserve Bank released a Circular on 10 December 2015 to the effect that South African residents who are living and working abroad temporarily (so indefinitely abroad without formally emigrating) may now avail of their R 1 million single discretionary allowance and the R 10 million foreign capital allowance per calendar year without returning to South Africa. The requirement for a green bar coded ID or smart card, and a valid tax number remains a requirement. Finally, just as a reminder, residents temporarily abroad may receive their SA monthly pension and/or income on retirement annuities; as well as monetary gifts. The Rand depreciated 10% in 48 hours on the announcement of Nene’s removal from his position and then proceeded to recover 5% with the change in mindset and subsequent appointment of Pravin Gordhan. A net loss though of 5% in 3 working days! We saw the Rand trade as high as 16.05 on USD, 11.40 on AUD and 24.40 on GBP on Friday in extremely volatile conditions. Fortunately some sanity has returned to the markets as Pravin Gordhan has returned to the position of finance minister, a position he vacated in 2014 and the recovery in the Rand appears to be a clear indication that markets are much happier with his ability to manage South Africa’s financial affairs. The Rand recovered to levels of 15.15 on USD, 10.95 on AUD and 22.90 on GBP and appears a little more stable for now. Please contact me to assist you with your transfers, tax clearances and also emigration process. Wishing all out clients a happy Christmas, a restful holiday season and best wishes for the New Year. FX Capital Currency Risk Management Specialists and International Trade Solutions Cell: 079 877 2325 Tel: 021-671 0804 e-mail: tanya[at]forexcapital.co.za Financial Services Board License No 37166 www.forexcapital.co.za
  2. tanyavdwes

    Resbank Travel Allowance Pit Falls

    Hi all, Please contact me with any questions or concerns about the R1mil Discretionary allowance, R10mil foreign investment allowance as well as emigration. Also an interesting article this morning, Pravin back as Minister of Finance, rand has strengthened already this morning.: http://www.bdlive.co.za/national/2015/12/13/zuma-brings-back-gordhan-drops-van-rooyen Have a blessed Christmas! Tanya vd Westhuizen Forex Capital Foreign exchange services Tel: 0027 79 877 2325 0027 21 671 0804 www.forexcapital.co.za
  3. tanyavdwes

    Workingin Expo 28 Feb- 1 March 2015

    Hi all, For those of you still in SA, "The Working IN opportunity Expo' is being held at the INDABA Hotel this weekend. Below is a link to the event website and list of exhibitors:. http://www.workingin-events.com/events/working-international-expo-johannesburg-28-february-1-march-2015/#.VO2ML_mUckE Please contact me for more information. Hope to see you there :-) Tanya vd Westhuizen tanya[at]forexcapital.co.za Office nr: 021 671 0804
  4. tanyavdwes

    Forex Capital Foreign Exchange Services

    Hi everyone, Happy new year ! Below is a summary of the allowances you can use to transfer funds out of SA: Single discretionary allowance Residents (natural persons), who are over the age of 18 years may be permitted to avail of a single allowance within an overall limit of R1 000 000 per individual per calendar year, without the requirement to obtain a Tax Clearance Certificate, which may be apportioned as follows: · Monetary gifts and loans · donations to missionaries · maintenance transfers · alimony and child support payments · wedding expenses and other special occasions · foreign capital allowance( investment allowance ) · travel allowance · study allowance Foreign Investment allowance: R4mil per calendar year: Tax registered individuals over 18 years, a tax clearance for foreign investment purposes required ( we can do the clearance application at no charge). Takes 1-3 days. Our other services include: Formal emigration process Open non-resident bank accounts with Investec Tax clearance applications Corporate forex solutions We have been in the industry for 11 years and we are authorised intermediaries for Investec and Bidvest. Please feel free to send me a PM or email me at tanya[at]forexcapital.co.za with any enquiries or assistance. Thank you for the continued support during 2014
  5. tanyavdwes

    Sarb: Discretionary Allowance Explained

    Hi everyone, Below is a summary of the SARB Excon regulation , for the "Single Discretionary allowance". I know there has been some confusion regarding when you are allowed to use this allowance. Single discretionary allowance Residents (natural persons), who are over the age of 18 years may be permitted to avail of a single allowance within an overall limit of R1 000 000 per individual per calendar year, without the requirement to obtain a Tax Clearance Certificate, which may be apportioned as follows: · Monetary gifts and loans · donations to missionaries · maintenance transfers · alimony and child support payments · wedding expenses and other special occasions · foreign capital allowance( investment allowance ) · travel allowance · study allowance Except for GIFTS, the single discretionary allowance may not be availed of by residents living temporarily abroad nor may the single discretionary allowance be used to disguise transfers for other purposes for which foreign exchange would otherwise be refused. Thus, if you have moved to or been living in Australia (before 1 Jan 2014 - current calender year), you need to use the Foreign Investment allowance option to transfer your funds, as you are now a SA Resident temporarily abroad. We can assist you with the tax clearance applications as well as the transfer of funds. Please feel free to send me a PM or email me at tanya[at]forexcapital.co.za.
  6. tanyavdwes

    Money Transfer From Rsa To Usa

    Hi, You are welcome to contact me on tanya[at]forexcapital.co.za We specialise in Forex transfers and cross border administration. Thanks Tanya vd Westhuizen FX Capital
  7. tanyavdwes

    Sa Immigration On Final Departure

    Hi guys, Yes it's R8 m per family, you can apply to SARB to take out more. The allowances I mention above is calendar -year allowances. We do assist with the tax clearance applications as well. SARS has recently changed their systems again... used to be able to get the clearances in a day or 2, they now have a turnaround of 21 days.... We also assist with the formal emigration process. Please feel free to email me or send a PM and I can send more info. Thanks
  8. tanyavdwes

    Sa Immigration On Final Departure

    Hi SA Exchange control allowances is as follows: R1mil discretionary allowance ( which includes travel allowance), no tax clearance required. R4mil Foreign investment allowance: You need "tax clearance for foreign investment purposes" ( you can be living abroad and use this allowance). Anything over and above this you need to apply to SARB. if you have an RA, you need to formally(financially) emigrate to get the RA funds out. Please contact me for any foreign exchange or exchange control enquiries: tanya vd Westhuizen Forex Capital tanya[at]forexcapital.co.za
  9. tanyavdwes

    Sa Bank Account

    Hi all, You are welcome to PM for more information about sending funds back to SA ( and also out of SA.) We report to the Reserve Bank via our Authorised dealer bank, Investec, and the rates are far better that what the retail banks are offering. Tanya vd Westhuizen Forex Capital Office nr: +27 21 671 0804
  10. tanyavdwes

    Forex Capital Foreign Exchange Services

    Hi, Ja dis een van die groot voordele, ons koerse is baie beter as die banke en die bank kostes ook baie laer. ( Ons werk met Investec Bank en kry uitsekende koerse) Stuur vir my n epos as jy kwotasie wil kry dalk of as jy vrae het oor die proses om geld uit te stuur of terug na SA. Dankie tanya [at]forexcapital.co,za
  11. tanyavdwes

    Forex Capital Foreign Exchange Services

    FX Capital is a financial services company that specialises in foreign exchange. Established in 2004, FX Capital is FSB registered, SARB approved and underwritten by Chartis SA Ltd. Our current trade volume exceeds R1.5 billion per annum enabling us to secure the very best rates from our partner banks and pass on savings to our clients in the form of both better exchange rates and lower bank fees. FX Capital has offices in Durban and Cape Town. Our clients include companies that Import and Export and Private Individuals: emigrating, sending money abroad or receiving money from abroad. Excellent exchange rates achieving significant savings for our clients Assistance with all documentation where required. Lower bank fees Tax clearance applications Personalised service Please feel free to contact: tanya[at]forexcapital.co.za Cell: 079 877 2325 Tel: 021-6710804
  12. tanyavdwes

    Exchange4Free Foreign Exchange Services

    Hi all , Exchange4free is an authorised financial services provider, that facilitates the transfer of funds via our Authorised dealer bank/ SARB. We ensure you receive the best possible rates and don't charge you transfer fees. We can also assist you in doing your SARS tax clearances for foreign investment. All of this can be done for you even after you have left SA. Please feel free to contact me to discuss any money transfer/opening of bank accounts/tax clearance issues or queries you may have. We can also assist you with doing transfers out of US. This is a paperless process and also much cheaper than using foreign banks. Our global platform reports directly into the SA Reserve bank system to ensure compliance and SARB regulations are followed to also ensure there is no risk involved. My contact details: Tanya vd Westhuizen Tel: +27 82 832 4867 / 0114537818 tanya[at]exchange4free.com
  13. tanyavdwes

    Sarb Exchange Control Changes

    Hi all, ** Important Exchange Control Changes ** South African resident individuals may now use their R1 Million Single Discretionary Allowance for Foreign Investment purposes without having to obtain a SARS Tax Clearance Certificate. In addition to the above, clients can still use their annual R4M Foreign Investment Allowance as per normal by obtaining a SARS Tax Clearance Certificate. New limits are as follows: R1,000,000 pa per adult - No SARS Tax Clearance Certificate required(travel, gift also included in this allowance) R4,000,000 pa per adult - SARS Tax Clearance Required Please give me a call or send me an email for any questions or assistance. Tanya vd Westhuizen Exchange4free Tel: 082 832 4837 tanya [at] exchange4free.com
  14. ** BREAKING NEWS ** SARB Relaxes Exchange Controls Further Foreign Investment Allowance R4 000 000 to R 5 000 000 Foreign Investment and Discretionary Allowance (including Travel, Study, Alimony and Others) will now be combined into One Annual Foreign Investment Allowance of up to R5M per annum. More information to follow from the SA Reserve Bank! i will post the information as they become available! Please contact Tanya on 082 832 4867 for further information or email: tanya[at]exchange4free.com
  15. tanyavdwes

    Money Transfers To And From The Us

    Hi All, Please remember you can be in touch with me if you have any questions on the process of transferring funds to and from the US/globally. Exchange4free provides a foreign exchange service, much cheaper than the banks and we can also assist you with your tax clearance certificates. My contact details: tanya[at]exchange4free.com Tel: 082 832 4867 Thanks Tanya vd westhuizen
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